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News release: Colorado - Denver/BoulderNovember 2, 1999 For more information, call: Colorado region remains in the black for third quarter Denver, CO – Kaiser Permanente's Colorado region ended the third quarter of 1999 with revenues exceeding expenses by $14.5 million, which is ahead of projections. Quarterly financial figures also were released Tuesday from the health care organization's national headquarters in Oakland, Calif. Those national figures show an operating loss of $9 million, which includes losses attributed to the divestiture of operations in the Northeast and North Carolina. Kaiser Permanente is pulling out of those states because operations there have not been financially self-sustaining. Both the Colorado and national programs are working to turn around losses reported in 1998. The Colorado region lost $10.6 million last year, while the national loss stood at $288 million. In Colorado, turnaround efforts have included selective rate increases and closer monitoring of costs. Kaiser Permanente, a non-profit organization, needs to generate just enough surplus revenues to finance new equipment and facilities. For-profit health insurance companies typically do not own medical offices; their profits go to investors. Kaiser Permanente is the oldest health maintenance organization in Colorado, and the largest to operate on a group practice model. It cares for 358,000 members in the Denver/Boulder metropolitan area and in Colorado Springs.
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