Kaiser cuts fourth-quarter loss following restructuring
Advertiser Staff
Kaiser Permanente Hawai'i reported its fourth-quarter loss narrowed from a year earlier. The results were helped by higher investment income and operating revenue that increased faster than operating expenses.
THE NUMBERS
Operating Revenue: $210.3 million vs. $206 million year ago.
Investment income: $4.1 million vs. 2.9 million year ago.
Net loss: $2.9 million vs. $5.3 million year ago.
2006 revenue: $862.6 million vs. $830 million year ago.
2006 investment income: $12.7 million vs. $9.7 million in 2005.
2006 net income: $5.5 million vs. loss of $500,000 in 2005.
REASONS
WHAT THEY ARE SAYING
"The restructuring efforts that began in late 2005 have resulted in progress towards reducing our overall cost trend, allowing Kaiser Permanente to position itself for the challenges facing the health-care industry."
Susan murrayKaiser Permanente Hawaii acting regional president
WHAT'S NEXT
Work is 30 percent complete on a 106-bed tower at Kaiser's Moanalua Medical Center.
An announcement on a new chief financial officer is expected shortly while a new regional president starts next week.
Kaiser expects to add more features that can be used by members in its automated medical records system.
Kaiser expects more challenges this year as Medicare reimbursements increase slower than costs for providing medical care.
