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Kaiser Foundation Health Plan and Hospitals Report First Quarter 2009 Financial Results
Date:5/8/2009

OAKLAND, Calif., May 8 /PRNewswire/ -- Kaiser Foundation Health Plan, Inc., Kaiser Foundation Hospitals and their subsidiaries (KFHP/H) reported today total operating revenue of $10.6 billion for the quarter ended March 31, 2009, compared to $10.1 billion in the same period last year. Operating income in the first quarter was $624 million, versus $545 million in the first quarter of 2008. Declines in the financial markets impacted KFHP/H's investment portfolio in the first quarter of the year, resulting in net non-operating loss of $194 million, versus net non-operating loss of $295 million in the first quarter of 2008. Net income in the first three months of the year was $430 million, compared to $250 million in the same period last year.

KFHP/H added more than 12,000 new members in the first quarter of the year, and total membership was more than 8.6 million members, as of March 31, 2009. "Given the uncertainty in the economy and financial markets, we are pleased with our results in the first quarter," said Executive Vice President and Chief Financial Officer Kathy Lancaster. "As unemployment levels continue to rise, however, we are preparing for additional challenges by focusing on member retention and on membership growth in targeted markets."

In the first three months of the year, KFHP/H's capital spending totaled $558 million, compared to $508 million in the same period last year. "We continue to invest prudently in our technology-enabled, integrated care delivery system," said Chairman and Chief Executive Officer George Halvorson. "The enhancements we are making to our information technology systems, care delivery programs, and facilities provide our clinical and professional teams with the capabilities to deliver better care and service, and operate more efficiently."

KFHP/H continued to expand Kaiser Permanente HealthConnect(R), the world's largest civilian electronic health record, during the first quarter of 2009. A key part of KFHP/H's information technology platform and tools, KP HealthConnect provides members with valuable information about their health and medical care. All members can access their personal health records online securely and communicate with their physicians and clinicians through My Health Manager on kp.org. Members send an average of 600,000 secure messages each month to Kaiser Permanente physicians, nurses, and other clinicians through KP HealthConnect. In the first three months of the year, members also refilled more than 1.5 million prescriptions through kp.org.

As not-for-profit organizations, KFHP/H also use their resources to support a wide range of community benefit programs, which provide care for low-income individuals and support community-based health partnerships, research, training, and community health organizations. In the first quarter of 2009, KFHP/H continued to support a broad and growing range of programs to serve the needs of its communities, approving more than 400 grants and donations. In 2008, KFHP/H provided nearly $1.2 billion to support community benefit programs and services. "As the recession continues to create hardships for those who are economically vulnerable, we are working to make our community benefit efforts even more robust and meaningful," said Halvorson.

About Kaiser Permanente

Kaiser Permanente is committed to helping shape the future of health care. We are recognized as one of America's leading health care providers and not-for-profit health plans. Founded in 1945, our mission is to provide high-quality, affordable health care services to improve the health of our members and the communities we serve. We currently serve 8.6 million members in nine states and the District of Columbia. Care for members and patients is focused on their total health and guided by their personal physicians, specialists and team of caregivers. Our expert and caring medical teams are empowered and supported by industry-leading technology advances and tools for health promotion, disease prevention, state-of-the art care delivery and world-class chronic disease management. Kaiser Permanente is dedicated to care innovations, clinical research, health education and the support of community health. For more information, go to: www.kp.org/newscenter.


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SOURCE Kaiser Permanente
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