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Kaiser Foundation Health Plan and Hospitals Report Third Quarter 2009 Financial Results
Date:11/6/2009

OAKLAND, Calif., Nov. 6 /PRNewswire/ -- Kaiser Foundation Health Plan, Inc., Kaiser Foundation Hospitals (KFHP/H), and their subsidiaries reported today a combined total operating revenue of $10.5 billion for the quarter ended September 30, 2009, compared to $10.2 billion in the third quarter of last year. Operating income in the third quarter was $336 million, compared to $307 million in the third quarter of last year. Net non-operating income was $233 million in the third quarter, compared to a net non-operating loss of $706 million in the third quarter of last year. As a result, third quarter net income was $569 million, versus a $399 million net loss in the third quarter of last year. These represent the combined operating results for Kaiser Foundation Health Plan, Inc., Kaiser Foundation Hospitals, and their subsidiaries.

Year-to-date total operating revenue was $31.6 billion, compared to $30.3 billion in the same period last year. Year-to-date operating income was $1.4 billion, which is comparable to the same period last year. Net non-operating income was $248 million in the first nine months of the year, compared to a net non-operating loss of $1.1 billion in the same period last year. As a result, year-to-date net income was approximately $1.6 billion, versus net income of $202 million in the same period last year.

Total membership declined by 63,000 members in the first nine months of the year and stands at 8.58 million. Capital spending totaled approximately $1.7 billion in the year-to-date period, versus $1.8 billion of capital spending reported in the same period last year.

"While we are seeing some positive activity in the financial markets, uncertainty in the economy and health care industry continues," said Kathy Lancaster, executive vice president and chief financial officer. "Though we are pleased with our performance, we continue to focus on making our high-quality care and service as affordable as possi
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SOURCE Kaiser Permanente
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