Investment declines led to a net non-operating loss of $365 million at the parent company of Kaiser Permanente, Oakland, Calif., which helped drag the provider's third-quarter total net income down to a loss of $45 million, according to a news release from Kaiser Foundation Hospitals and the Kaiser Foundation Health Plan. Kaiser had posted net income of $634 million in the same quarter ending Sept. 30 last year, according to the release.
Kaiser sees 3Q loss as investments slip
A drop in operating income also contributed to the quarterly decline, with operating income falling to $320 million this year compared with operating income of $366 million the previous year, according to the release.
Total operating revenue increased, though, to $11.9 billion in the quarter, up from $11.1 billion in the same year-earlier quarter.
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