Oakland, Calif.-based Kaiser Permanente, a 34-hospital health system that also operates a health plan, has reported operating income of $741 million for the first quarter of 2015, down from $820 million a year ago.
Here are five key points from Kaiser's first-quarter financials:
1. Kaiser posted $15 billion of operating revenue in the first quarter of fiscal 2015, compared to $13.9 billion in the same period of 2014.
2. Kaiser added 464,000 new health plan members, including about 70,000 new Medicaid enrollees, in the first quarter, bringing Kaiser's total membership to more than 10 million. "To now cover and care for more than 10 million Americans is a significant milestone for our organization because it validates that we are on the right path with our agenda to advance quality, service and affordability," said Kaiser Chairman and CEO Bernard J. Tyson.
3. Kaiser reported $740 million in capital spending for the first quarter of fiscal 2015, down from $827 million in the same period of 2014.
4. Kaiser's net income for the first-quarter of fiscal 2015 was $1 billion, down from $1.1 billion for the same period of last year, with both operating and nonoperating income dipping.
5. Regarding Kaiser's first-quarter financials, Kaiser CFO Kathy Lancaster said, "We remain committed to managing our cost trends while maintaining our focus on high-quality care and service."