Dive Brief:
- Kaiser Foundation Health Plan and Kaiser Foundation Hospitals announced their Q4 and full 2015 financial results.
- The organization touted its membership growth of 6.7% from 2014 -- nearly 650,000 new consumers -- across its individual, employer group, Medicare and Medicaid businesses.
- Despite the membership growth, Kaiser's 2015 operating income was $1.8 billion, down from $2.2 billion in 2014, and its 2015 net income was $1.9 billion, down from $3.1 billion in 2014.
Dive Insight:
Kaiser attributes its membership growth to its performance on service, access, quality, and affordability.
"As a result, more people are choosing Kaiser Permanente," Chairman and CEO Bernard J. Tyson said. "We believe our model is the right approach for the future of health and healthcare in this country, and we are committed to ensuring that our members receive the care and services they need at a price they can afford."
The organization's capital spending was comparable over the past two years, at $2.7 billion for 2015, and $2.8 billion for 2014. It says spending last year was focused on investments in technology and facilities, as well as increasing its capacity for further membership growth. Last year saw the completion of nine new Kaiser medical buildings as well as the last of its 13 seismic replacement hospitals, Kaiser reports.