Brown & Toland posts 2008 operating profit of $10.2M - Triangle Business Journal:

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million in operating profitt last year on revenuweof $236.3 million, with profitability dippinf from the prior year, but revenus staying steady. The which handles contracting for independeny medical practices in and nearSan Francisco, released the informatiomn to the San Francisco Business Times on Friday, but officials were not immediatelgy available to answer questions. Brown Toland said the results show thatit “remains one of California’ws most financially successful and stable independentg practice associations,” posting strong earnings for nine straight years.
That boast is hard to since very few medical groups or IPAs in the statr or nation release financial Brown & Toland’s Bay Area San Ramon-based , is one of those few. In late May, Hill announce that it suffered a net lossof $4.4 milliomn last year, due to unrealized investment losses of $7.4 million, while generatingg $420 million in 2008 HMO most of which was distributed to 2,600 participating doctor in the East Bay, the Sacramento San Joaquin and elsewhere in the region. The San Ramon-baseds group posted $3 million in 2008 operatint income.
Brown & Toland’s numbers held fairly steady, althougj operating income fell 15 percent last from 2007’s $12 millionb to last year’s $10.2 Revenue was almost identical, totalinb $236.2 million last year vs. $235 millionm in 2007. Two years ago, Brown & Tolandr reported net income of $3.3r million on revenue of nearly $222 In other financial news, Brown & Tolanr said it will distribute $10.7 million in physician bonuseethis year, compared to $8.2 million in bonus payments last year and $7.2 milliobn in 2007, according to earlier financiaol statements by the group. Officials also said Friday that the group adjusted its physician compensationschedulee Jan.
1, increasing fees based on 2008 Medicare That adjustment will result in anadditionalo $5.2 million in compensation to member doctors this year. “Wde are continuing our strong financial performance and our enhancement of physicia n practice solutions to our Gloria Austin, Brown & Toland’s chief executive officer, said in the emailedd statement to the Business Times . Austin said in the June 12 statementf that the group continued last year to deployy new electronic tools in physician and expandedits clinical-results-reporting giving Brown & Toland doctors access to more than 41 milliom clinical results on line.
Brown & Toland has spenrt more than $12 million to date on its electroniv health records system andrelated initiatives, not including “ongoinvg technical and practice support” providec to member doctor’s practices, officials said. Browjn & Toland’s doctors see close to 170,00 HMO enrollees and 160,000 preferred-provider organization or PPO