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News release: Colorado - Denver/BoulderMarch 1, 2004 For more information, call: Kaiser Permanente on solid financial ground for future Denver, CO – Kaiser Permanente Colorado is reporting 2003 total income of $1.3 billion and net income of almost $101 million, a net income margin of 7.6 percent. During the past five years, Kaiser Permanente's net income margin has averaged 4.7 percent. As a nonprofit organization, that margin is invested back into the organization; no money goes to investors. "The people of Kaiser Permanente work hard at placing quality care first and that's helped eliminate waste, while providing better service to our members," said regional president Chris Binkley. "Our members are the ones who truly benefit from our fiscal responsibility and being good stewards of their money." The net income puts Kaiser Permanente on solid financial ground as it makes major investments in facilities and information technology in 2004. Every dollar earned by the nonprofit health plan in 2003 will be spent in 2004 -- and it will be spent in Colorado on new medical offices, advanced equipment and Kaiser Permanente HealthConnect, a state-of-the-art automated medical record and administrative system. In 2003 and 2004, the organization will spend $194 million on facilities and IT. Kaiser Permanente is building a new primary/specialty care medical office in Lafayette and two new medical offices in the south Metro area. It is also undertaking major renovations at the Franklin Medical Office, its existing specialty facility in central Denver, as well as launching the Kaiser Permanente HealthConnect information system. These major investments are part of Kaiser Permanente's mission to improve the health of its members and the communities it serves. Investing in new medical offices and technology is a key to serving the total health care needs of the community. The Institute of Medicine report Crossing the Quality Chasm noted that an automated medical record is a core component of high quality medical care and can help improve patient safety. In addition, Kaiser Permanente's community investments include: major contributions to an accelerated nursing program at Metropolitan State College; an extensive contributions program to benefit the medically underserved in Colorado Springs; sponsoring an annual health fair for the uninsured in Denver; and donations of automated external defibrillators to DIA and throughout the Denver and Colorado Springs areas. Kaiser Permanente is a nonprofit organization and the largest private health care provider in Colorado. It is rated among the top ten accredited health care organizations in the country for clinical quality by the National Committee for Quality Assurance. Kaiser Permanente cares for more than 409,000 members in the Denver/Boulder and Colorado Springs areas. In the Denver/Boulder area, care is provided by a coordinated team of physicians, nurses, pharmacists, dietitians, mental health counselors and physical therapists. In Colorado Springs, Kaiser Permanente cares for its members through an affiliated network of community-based physicians and other health care providers.
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