Oakland, Calif.-based Kaiser Permanente reported higher revenue and operating income for its nonprofit hospital and health plan units in the third quarter of 2017, according to recently released bondholder documents.
Kaiser saw revenue increase to $18.3 billion in the third quarter of this year. That's up nearly 13 percent from revenue of $16.2 billion in the same period of 2016.
The boost was attributable, in part, to the system's health plan unit. Since Dec. 31, Kaiser has added approximately 1 million health plan members. This growth was partially attributable to Kaiser's acquisition of Seattle-based Group Health Cooperative in February. As of Sept. 30, Kaiser had about 11.7 million members.
Kaiser reported operating income of $850 million in the third quarter of this year, up from $672 million in the same period of 2016.
After factoring in non-operating income, Kaiser ended the third quarter of 2017 with net income of $1.3 billion, up from net income of $1.1 billion in the third quarter of the year prior.
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