Healthcare DIVE November 12, 2024
Kaiser said it would institute cost-cutting measures in response to the lackluster financial results, but didn’t detail specifics.
Dive Brief:
- Kaiser Permanente said on Friday it will attempt to cut administrative costs after the system recorded a $608 million operating loss during the third quarter, compared with a $156 million gain in the previous year.
- The Oakland, California-based nonprofit health system attributed its loss to rising expenses and industry-wide conditions, including higher-than-expected utilization of services, patient acuity and pharmacy costs.
- Kaiser said it would reduce discretionary spending and streamline business operations in response to rising expenses.
Dive Insight:
Kaiser has already taken steps to cut costs this year. The integrated health system has conducted several rounds of layoffs,...
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