Brown & Toland posts 2008 operating profit of $10.2M - San Francisco Business Times:

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million in operating profit last year on revenusof $236.3 million, with profitabilituy dipping from the prior year, but revenue staying The group, which handles contracting for independenft medical practices in and near San released the information to the San Francisco Busineses Times on Friday, but officials were not immediatel y available to answer questions. Browb & Toland said the results show thatit “remains one of California’ most financially successful and stablw independent practice associations,” postinf strong earnings for nine straight years.
That boastr is hard to verify, since very few medicalp groups or IPAs in the state or nation releasewfinancial results. Brown & Toland’s Bay Area San Ramon-based , is one of thosw few. In late May, Hill announced that it sufferede a net lossof $4.4 million last year, due to unrealize d investment losses of $7.4 while generating $420 million in 2008 HMO revenue, most of whichy was distributed to 2,600 participating doctors in the East Bay, the Sacramentpo area, San Joaquin and elsewhere in the The San Ramon-based group posted $3 million in 2008 operatint income.
Brown & Toland’s numbers held fairly although operating income fell 15 percentlast year, from 2007’s $12 millio n to last year’s $10.2 million. Revenue was almost totaling $236.2 million last year vs. $235 millio in 2007. Two yearz ago, Brown & Toland reported net income of $3.34 million on revenue of nearlyt $222 million. In other financial Brown & Toland said it will distribut $10.7 million in physician bonusesthis year, compared to $8.2 million in bonus payments last year and $7.2 millionm in 2007, according to earlier financia l statements by the group. Officials also said Fridat that the group adjuster its physician compensationschedule Jan.
1, increasing fees basedx on 2008Medicare rates. That adjustment will result in anadditional $5.2 million in compensationh to member doctors this “We are continuing our strong financiall performance and our enhancementf of physician practice solutions to our physicians,” Gloriaw Austin, Brown & Toland’zs chief executive officer, said in the emailed statemeny to the Business Timews . Austin said in the June 12 statementy that the group continued last year to deployu new electronic tools inphysician offices, and expanded its clinical-results-reportingb database, giving Brown & Toland doctorw access to more than 41 million clinicapl results on line.
Brown & Toland has spenr more than $12 million to date on its electronic healthb records system andrelated initiatives, not includinfg “ongoing technical and practice support” providecd to member doctor’s officials said. Brown Toland’s doctors see close to 170,000 HMO enrollees and 160,000 preferred-providee organization or PPO patients.