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Kaiser s profit rebounds to $2 billion in first quarter
Kaiser s profit rebounds to $2 billion in first quarter
Los Angeles Times via Getty Images
Kaiser Permanente kicked off 2021 on a high note, having drawn $2 billion in profit in the first quarter.
Oakland, Calif.-based Kaiser s strong net income in the quarter ended March 31 was a significant swing from its $1.1 billion net loss in the prior-year period, according to results released Friday. But the not-for-profit system noted $2 billion is still down about 60% from its net income of $3.2 billion in the first quarter of 2019, about a year before the COVID-19 pandemic struck.
Tom Meier, Kaiser s corporate treasurer, told Modern Healthcare the system has benefited from a pretty significant year-over-year positive swing in investment income.