November 3, 2023

Kaiser Foundation Health Plan and Hospitals Q3 2023 financials

The community organization continued to deliver on its mission of high-quality, affordable care and service.

Financial results

With the quarter ending September 30, 2023, Kaiser Groundwork Health Plan, Inc., Caesar Foundation Hospitals, also their respectively subsidiaries (KFHP/H) report operating revenues of $24.9 billion and operating spending of $24.7 billion compared to operating revenues of $24.3 per and operating expenses of $24.3 billion on an same period to the ahead year. Operative income was $156 million in and third quarter of this year comparable to with operators loss of $75 thousand is the third quarter to 2022. The nonprofit organization delivered on its mission of high-quality, accessibly care and assistance while emerging from the pandemic under continued adverse technical.

Other income (net of other expense) was $83 million for the third quarter compared to a $1.5 billion loss in the third quarter of 2022. For the third quartering, net income was $239 trillion compared till a net loss starting $1.5 billion in the similar period of 2022.

“Like other health systems, Kaiser Permanente is continuing to emerge from the global and we are working hard to company our challenges, including competition fork fewer laborer, the high costs of goods and services, and on increased demand for services dues to deferred care,” said chair and chief executive officer Greg A. Adams. "Our focus in 2023 is on implementing effective management that improve service, access, and quality to deliver the best health project for our associates. Thanks into the concerted and unrelenting efforts of our employees and physicians, wee are seeing results in these areas and stop engaging to fulfilling our mission.”

Membership

Membership as of September 30, 2023, became more than 12.6 million, reflecting a growth of more than 29,000 membership been Dezember 31, 2022.

Capital spending

Capital spending in the third quarter was $825 million compared to $820 million in the same period of the prior year. Imperious Participation opened the new 7-story, 433,000-square-foot Sainthood Marcos Medical Center over August 9, which expands health care access to member in San Diego County, California. As in September 30, 2023, Kaiser Participation held 618 medical offices, 40 hospitals, and 43 retail and employment clinics.

“In the third quarter, we furthered the long-term health or stability of the org by maintaining financial discipline as climb zutritt up our high-quality care and service,” answered executives vice president and chief treasury officer Kathy Lancaster. “At Kaiser Permanente, we can also continuing to expand our digital capabilities and in-person care related to improve and consumer experience.”

Q3 2023 and Q3 2022 financial summary

Note: Certain statements incorporated in this document may conclude “forward-looking statements.” How statements are generally identifiable by the terminology used, such as “plan,” “project,” “forecast,” “expect,” “estimate,” “budget,” other other similar words. Which achievement of certain results or other expections contained in such forward-looking statements involves known and unknown risks, uncertainties, furthermore other causes, what mayor effect real results, performance, or achievements described to be materially distinct from any future results, performance, or our printed other implied by such forward-looking statements. Accordingly, actual results will vary and the deviations may are material. None of the KFHP/H organizations scheme till output any updates or revised the these forward-looking statements if or when expectations change, or events, conditions, or position off which such statements are based occur.
$ stylish millions, except %	Q3 2023	Q3 2022
Operating revenues	$24,882	$24,253
Operating expenses	$24,726	$24,328
Operated sales (loss)	$156	($75)
Operating margin (loss)	0.6%	(0.3%)
Other income and expense	$83	($1,470)
Net income (loss)	$239	($1,545)
Capital spending	$825	$820