Oakland-based Kaiser Foundation Health Plan, Inc., its hospitals and subsidiaries reported on its 2017 financial results, showing an increase in all areas of operation.
Total operating revenue for 2017 was $72.7 billion. In 2016, that figure was $64.6 billion. Operating income was $2.2 billion (3 percent), compared to $1.9 billion the previous year, according to a statement released by the organization.
“Despite uncertainty throughout 2016 in the health care industry, we continued our solid performance, delivering membership growth and increased access to high-quality and affordable health care and coverage,” said Bernard J. Tyson, chairman and CEO of Kaiser. “We are financially sound as we enter a year that will be challenging, yet transformational, as Kaiser Permanente and the entire industry become more consumer-focused in a world that demands anytime access to affordable health care.”
Kaiser’s membership also increased. The number of enrollees was up by 1.1 million, which included more than 650,000 members from an acquisition of Group Health Cooperative in February of 2016. Membership now stands at 11.8 million according to Kaiser.
The healthcare organization has locations all throughout the Central Valley.