Kaiser Permanente reported Friday a $15 billion increase in operating revenue for 2024 with the addition of Risant Health.
Treasurer Tom Meier said about 60% of the revenue growth stemmed from Kaiser's core hospital and health plan operations, while the rest can be attributed to Risant and its acquisitions of Geisinger Health in March and Cone Health in December. The combined operating revenue of $115.8 billion in 2024 includes nine months of Geisinger operations and one month of Cone operations, he said.
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Kaiser launched Risant last spring as a separate nonprofit to buy up health systems and build a national value-based care network. Risant leaders have said the organization plans to add a few more systems to the network.
Meier declined to comment on whether another Risant acquisition is in the pipeline this year.
Net income in 2024 was $12.9 billion, including a one-time $6.8 billion boost from the Risant acquisitions, according to the system's financial report released Friday. Kaiser reported net income of $4.1 billion in 2023.
In the report, Kaiser noted financial pressures due to higher costs on goods and services and increased patient volume in ambulatory settings. In 2024, Kaiser worked to reduce administrative expenses, control discretionary spending and streamline business operations.
Kaiser will continue combine its financial results with Risant in future earnings. Kaiser and Risant operate a combined 841 medical offices, 55 hospitals and 40 clinics.
