First-quarter net income for Kaiser Foundation Hospitals and Health Plan rose 64 percent to $706 million, mainly due to investment gains, according to a release from Kaiser Permanente.
But Kaiser's first-quarter statement, which does not include its large physicians group, showed a 23 percent decline in earnings from operations, to $481 million from $624 million the year before. It said this was in part due to the flu season and a decline in Medicare Advantage payments.
Kaiser also launched its HealthConnect electronic health record system in all 36 of its hospitals and all 431 of its medical offices in the first quarter.
Looking forward, "We are encouraged by the move toward universal coverage in this country," George Halvorson, chairman and CEO of Kaiser, said in the release. He said the company would make "many significant changes" under health reform.
Read the release on Kaiser Permanente earnings.
But Kaiser's first-quarter statement, which does not include its large physicians group, showed a 23 percent decline in earnings from operations, to $481 million from $624 million the year before. It said this was in part due to the flu season and a decline in Medicare Advantage payments.
Kaiser also launched its HealthConnect electronic health record system in all 36 of its hospitals and all 431 of its medical offices in the first quarter.
Looking forward, "We are encouraged by the move toward universal coverage in this country," George Halvorson, chairman and CEO of Kaiser, said in the release. He said the company would make "many significant changes" under health reform.
Read the release on Kaiser Permanente earnings.