> their own execs all getting their own bonuses, etc
While we love to critique big insurance, and some of it may be earned, that industry is not known for the skyhigh profits OR margins like IT is.
Here is an HMO for ya
> OAKLAND, Calif. — Kaiser Foundation Health Plan, Inc., Kaiser Foundation Hospitals, and their respective subsidiaries (KFHP/H) reported 2021 annual financial results. Total operating revenues for 2021 were $93.1 billion compared to $88.7 billion in 2020. Total operating expenses were $92.5 billion compared to $86.5 billion in the prior year. Operating income was $611 million, or 0.7% of operating revenues, compared to $2.2 billion in 2020. Increased care delivery expenses due to COVID-19 surges contributed to the decline in operating income.
> “After almost 2 years, the COVID-19 pandemic continues to impact Kaiser Permanente just as it does our daily lives,” said chair and chief executive officer Greg A. Adams. “We rapidly rolled out vaccines, and now boosters, and administered more than 9 million COVID-19 tests while managing new and unpredictable variants like delta and omicron as they surfaced. Throughout this crisis, gratitude goes to our dedicated employees and physicians who have remained focused on providing care and strong support for members and communities.”
> Like other organizations, Kaiser Permanente benefited from strong investment performance due to robust financial markets during the year, resulting in total other income and expense of $7.5 billion compared to $4.1 billion in 2020. This sharp increase in investment performance more than offset the $1.6 billion decrease in operating income, resulting in 2021 net income of $8.1 billion compared to net income of $6.4 billion in 2020.
> Capital spending totaled $3.5 billion compared to $4.0 billion the year prior. During 2021 Kaiser Permanente opened 11 medical offices. Kaiser Permanente now includes 734 medical offices, 39 owned and operated hospitals, and 58 retail and worksite clinics.
and regular insurance
> United Healthgroup Profit as % of Revenues 6%, Profits as % of Assets 7.8%, Profits as % of Stockholder Equity 23.5% for CY2021
While we love to critique big insurance, and some of it may be earned, that industry is not known for the skyhigh profits OR margins like IT is.
Here is an HMO for ya
> OAKLAND, Calif. — Kaiser Foundation Health Plan, Inc., Kaiser Foundation Hospitals, and their respective subsidiaries (KFHP/H) reported 2021 annual financial results. Total operating revenues for 2021 were $93.1 billion compared to $88.7 billion in 2020. Total operating expenses were $92.5 billion compared to $86.5 billion in the prior year. Operating income was $611 million, or 0.7% of operating revenues, compared to $2.2 billion in 2020. Increased care delivery expenses due to COVID-19 surges contributed to the decline in operating income.
> “After almost 2 years, the COVID-19 pandemic continues to impact Kaiser Permanente just as it does our daily lives,” said chair and chief executive officer Greg A. Adams. “We rapidly rolled out vaccines, and now boosters, and administered more than 9 million COVID-19 tests while managing new and unpredictable variants like delta and omicron as they surfaced. Throughout this crisis, gratitude goes to our dedicated employees and physicians who have remained focused on providing care and strong support for members and communities.”
> Like other organizations, Kaiser Permanente benefited from strong investment performance due to robust financial markets during the year, resulting in total other income and expense of $7.5 billion compared to $4.1 billion in 2020. This sharp increase in investment performance more than offset the $1.6 billion decrease in operating income, resulting in 2021 net income of $8.1 billion compared to net income of $6.4 billion in 2020.
> Capital spending totaled $3.5 billion compared to $4.0 billion the year prior. During 2021 Kaiser Permanente opened 11 medical offices. Kaiser Permanente now includes 734 medical offices, 39 owned and operated hospitals, and 58 retail and worksite clinics.
and regular insurance
> United Healthgroup Profit as % of Revenues 6%, Profits as % of Assets 7.8%, Profits as % of Stockholder Equity 23.5% for CY2021