03/02/2004 - Courtesy Of Californiahealthline
Oakland-based HMO Kaiser Permanente on Monday reported a 3.9% operating margin for the fiscal year that ended Dec. 31, compared with 0.6% for 2002, the Sacramento Bee reports. The 2002 figure includes a $442 million write off for the HMO's computerized medical record system. Without the write off, Kaiser would have had a 3% operating margin for 2002. Kaiser reported a net income of $996 million and operating income of $998 million on revenue of $25.3 billion for 2003. Premium increases were the primary source of the increase in operating income; while membership declined in 2003 from 8.4 million to 8.2 million systemwide, premiums increased by an average of 13%. "One of our challenges will be keeping our HMO rate increases as low as possible.
Continue reading "Kaiser Reports Financial Data For 2003" »
