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

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million in operating profit last year on revenudeof $236.3 million, with profitability dipping from the priore year, but revenue staying The group, which handles contracting for independent medicapl practices in and near San Francisco, release d the information to the San Franciscpo Business Times on Friday, but officialas were not immediately available to answer questions. Brow n & Toland said the results show thatit “remainse one of California’s most financiallu successful and stable independent practice associations,” postingv strong earnings for nine straight years.
That boast is hard to since very few medical groups or IPAs in the state or nationm releasefinancial results. Brown Toland’s Bay Area rival, San Ramon-based , is one of those few. In late May, Hill announced that it sufferec a net lossof $4.4 million last due to unrealized investment losses of $7.4 million, while generatingt $420 million in 2008 HMO revenue, most of which was distributee to 2,600 participating doctors in the East Bay, the Sacramentko area, San Joaquin and elsewhered in the region. The San Ramon-based group posteed $3 million in 2008 operating income.
Brown Toland’s numbers held fairly steady, althoughj operating income fell 15 percent last from 2007’s $12 million to last year’s $10.2 million. Revenue was almos identical, totaling $236.2 million last year vs. $235 millionn in 2007. Two years ago, Brown & Tolanxd reported net income of $3.3e million on revenue of nearly $222 In other financial news, Brown Toland said it will distribute $10.7 million in physician bonusesthis year, compared to $8.2 million in bonus payments last year and $7.2 milliobn in 2007, according to earlier financial statementse by the group. Officials also said Fridayy that the group adjusted its physician compensationschedule Jan.
1, increasingg fees based on 2008 Medicare That adjustment will result in anadditionalp $5.2 million in compensation to member doctors this “We are continuing our strong financial performance and our enhancemengt of physician practice solutions to our physicians,” Gloriz Austin, Brown & Toland’s chief executive officer, said in the emailed statement to the Business Times .
Austin said in the June 12 statemenr that the group continued last year to deployt new electronic tools inphysician offices, and expanded its clinical-results-reportinb database, giving Brown & Toland doctorxs access to more than 41 million clinical results on Brown & Toland has spent more than $12 million to date on its electronicd health records system and relate d initiatives, not including “ongoing technical and practice support” providedx to member doctor’s practices, officials Brown & Toland’s doctors see close to 170,000p HMO enrollees and 160,000 preferred-provider organization or PPO patients.