Kaiser Permanente kicked off 2021 on a excessive notice, having drawn $2 billion in revenue within the first quarter.
Oakland, Calif.-based Kaiser’s sturdy web earnings within the quarter ended March 31 was a big swing from its $1.1 billion web loss within the prior-year interval, based on outcomes launched Friday. However the not-for-profit system famous $2 billion continues to be down about 60% from its web earnings of $3.2 billion within the first quarter of 2019, a couple of 12 months earlier than the COVID-19 pandemic struck.
Tom Meier, Kaiser’s company treasurer, advised Trendy Healthcare the system has benefited from a “fairly vital” year-over-year constructive swing in funding earnings.
“We’re comfortable to see the monetary markets have stabilized a little bit bit from the volatility we had a 12 months in the past,” he stated. “We’re happy with our outcomes.”
However regardless of the stronger revenue, Kaiser’s working margin was