Kaiser Foundation Hospitals and Health Plan posted higher revenue, profit and income from continuing operations in 2014 as membership climbed, the company announced last week.
Kaiser pulled in $56.4 billion in revenue 2014, compared to to $53.1 billion in the prior year, and earned a profit of $3.1 billion compared to 42.7 billion in 2013.
Membership in the company’s health plan grew by 510,000 in the year to nearly 9.6 million, Kaiser said in a statement.
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Capital spending slid slightly in the year to $2.8 billion in 2014, the same year it unveiled new California hospital projects in Oakland, Redwood City and San Leandro, compared to $3.3 billion in 2013.
The company also earned $3 million in net income from discontinued operations compared to a loss of $119 million in the prior year.
“Our financial performance has positioned us to offer lower premium increases for 2015 while also ensuring that we can make the necessary ongoing investments in our care delivery system to continue providing our members, patients, customers and communities with high-quality and affordable 21st-century healthcare,” Chief Financial Officer and Executive Vice President Kathy Lancaster said in a statement.
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