- Kaiser Permanente closed out 2022 with an operating loss of $1.3 billion and a net loss of nearly $4.5 billion, according to a press release with the system’s top-line financials released Friday. A $4.2 billion rise in operating expenses, despite the $2.3 billion rise in operating revenues, put the nonprofit health system’s operating loss in stark contrast to its $611 million operating income in 2021. It’s a $4.5 billion net loss compared to a net income of $8.1 billion in 2021. The increase in operating expenses was driven by higher care volumes, higher costs of goods and services and increasing labor costs “due to a highly competitive labor market,” per the announcement. (Press release here; Articles here and here)
February 14, 2023
Providers | Tea Leaves