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TMCNet:  Kaiser Foundation Hospitals and Health Plan Report Fiscal Year 2012 and Fourth Quarter Financial Results

[February 08, 2013]

Kaiser Foundation Hospitals and Health Plan Report Fiscal Year 2012 and Fourth Quarter Financial Results

OAKLAND, Calif., Feb. 8, 2013 /PRNewswire via COMTEX/ -- Kaiser Foundation Hospitals, Kaiser Foundation Health Plan, Inc., and their subsidiaries (KFH/HP) reported today that combined total operating revenue for 2012 was $50.6 billion, compared to $47.9 billion in 2011. Operating income for 2012 was $1.7 billion, equal to 3.3 percent of operating revenue, compared to $1.6 billion, equal to 3.3 percent of operating revenue, in 2011. Net non-operating income was $925 million in 2012, compared to $426 million in 2011. As a result, net income for 2012 was $2.6 billion, compared to $2.0 billion in 2011.


As not-for-profit organizations, KFH/HP use their net income to make investments in care-delivery facilities and technology supporting our members, patients and the communities we serve. Capital spending by KFH/HP in 2012 was $3.5 billion, compared to $3.2 billion in 2011. Capital investments in new and upgraded health care facilities made KFH/HP a major source of construction jobs in California. KFH/HP's capital spending includes the current phase of seismic upgrades occurring throughout California. KFH/HP opened one new hospital and 12 new medical office locations across its regions in 2012.

Combined total operating revenue for the quarter ending Dec. 31, 2012, was $12.7 billion, compared to $12.1 billion in the same period in 2011. Operating income was $179 million in the fourth quarter of 2012, compared to $247 million in the same quarter of the prior year. Net non-operating income was $330 million in the fourth quarter of 2012, compared to a net non-operating income of $227 million in the same quarter of 2011. As a result, net income for the fourth quarter was $509 million, versus $474 million for the same period in 2011. Capital spending in the fourth quarter of 2012 was $1.0 billion, compared to the same amount in the fourth quarter of 2011.

Total membership increased by approximately 131,000 members over the past year. As of Dec. 31, 2012, membership totaled more than 9 million members.

"Our year-end operating income as a percent of revenue is consistent with the prior year's performance," said Chief Financial Officer and Executive Vice President Kathy Lancaster. "We are pleased that our performance allows us to continue to make capital investments in our facility infrastructure and IT systems that allow us to deliver high-quality, affordable health care to our members and the communities we serve." Kaiser Permanente has demonstrated ongoing leadership in providing new and innovative ways to improve care and the total health of its members and patients. All Kaiser Permanente members can access My Health Manager, Kaiser Permanente's personal health record, to manage their personal health information online. In 2012, Kaiser Permanente members viewed 33.3 million laboratory results, exchanged 13.4 million emails with their Kaiser Permanente doctors and caregivers and refilled 11.9 million prescriptions online.

"Our members enjoy 24/7 connectivity to support their total health," said Chairman and Chief Executive Officer George Halvorson. "From securely emailing doctors, viewing lab results, making appointments, or refilling prescriptions -- our new levels of connectivity are available online and via mobile devices. We also are leading the way on improved health as caregivers prescribe exercise as first-line medication, and track activity as a vital sign on our members' electronic health records." In 2012, KFH/HP provided approximately $2.0 billion, 3.9 percent of its operating revenue, in support to community benefit programs and services. KFH/HP devote resources to improve the health of our members and the communities we serve. Our community benefit investment supports a wide range of programs that provide care for low-income individuals, support community-based health partnerships, conduct research, train health care workers, and expand access to health care within the safety net.

Except for historical information contained herein, the matters discussed in this media release are forward-looking statements that involve risks and uncertainties. Actual results may differ materially based on a number of factors including, but not limited to: the impact of competitive products and pricing; government regulations; changing membership requirements and the change in business and economic conditions. Forward-looking statements are based on information as of the date of this press release, and we assume no obligation to update or revise any of these forward-looking statements, whether as a result of new information, future events or otherwise.

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 and to improve the health of our members and the communities we serve. We serve more than 9 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: kp.org/newscenter.

For more information, contact: 510-414-9245, Laura.C.Dunn@kp.org SOURCE Kaiser Permanente http://rt.prnewswire.com/rt.gif NewsItemId=SF57259&Transmission_Id=201302081500PR_NEWS_USPR_____SF57259&DateId=20130208

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