Kaiser Reports Increased Operating Revenue for Q2 2008

Kaiser Permanente posted a 7.4 percent increase in operating revenue for its foundation health plan and hospitals on August 4, 2008.

In a news release issued after the close of business, Kaiser reported that it was posting $10.1 billion in operating revenue for the quarter ended June 30, compared with $9.4 billion the prior year quarter.

“Though the difficult economic climate and turbulence in the financial markets dampened our second quarter results, our strong financial position enables us to continue making important investments in our integrated health care delivery system,” said Kathy Lancaster, executive vice president and chief financial officer in a prepared statement.

Membership remained at nearly 8.7 million members and capital spending was $628 million, according to Kaiser. Among investments made by the hospital group, Kaiser CEO George Halvorson pointed to the opening of a new hospital in Irvine, and a hospital tower expansion in Moanalua, Hawaii.