Despite total operating revenue for Kaiser Permanente's 28-hospital system increasing roughly 7 percent last year, the company posted a net loss of $794 million in 2008 reports Modern Healthcare. Just two years ago, Kaiser posted a net-income of $2.2 billion.
Most of the company's losses were due to poor investments, with more than $2.3 billion in value lost last year; in the third quarter alone, Kaiser lost almost $400 million in investments. Kaiser also opened three new hospitals last year, while increasing its capital spending to $2.9 billion, and reducing projects and deferring project timelines for this year.
For more information:
- here's the full Modern Healthcare article