IU Health’s net income dips 63%

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IU Health ended the first three quarters with an operating earnings of $418.2 million, compared to $511.5 million taped in the exact same period in 2019. The health systems operating earnings reached $215.4 million in the 3rd quarter of this year, up from $203.6 million recorded in the very same duration last year..

IU Health said due to the pandemic and deferred medical treatments it saw decreases in medical facility admissions, surgical cases, ER sees and inpatient days during the nine-month duration ended Sept. 30.

IU Health said it taped $221 million in federal help from the Coronavirus, Aid, Relief and Economic Security Act through the first nine months of the year to help balance out those declines..

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” As the coronavirus stays active in Indiana and elsewhere, IU Health continues to depend on its operational planning and strong balance sheet to help withstand the unfavorable economic effects from the pandemic,” said Jenni Alvey, senior vice president and CFO of IU Health. “IU Health is gotten ready for brand-new surges in the pandemic and remains dedicated to providing the best-available care to our clients, employee and neighborhood.”.

In the nine-month period, the health systems costs increased 5.2 percent to $4.7 billion.

Indiana University Health, a 17-hospital system based in Indianapolis, saw its earnings dip 63 percent through the very first nine months of the year, according to unaudited financial files released Oct. 29.

Alia Paavola –
Friday, October 30th, 2020
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Overall, IU Health tape-recorded an earnings of $328.5 milion in the very first nine months of this year, a 63 percent decrease from the first 9 months of 2019. In the third quarter ended Sept. 30, IU Health tape-recorded a net earnings of $538.1 million, a 204 percent increase from the third quarter of 2019.

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IU Healths operating revenue hit $5.1 billion in the nine months ended Sept. 30, up 2.7 percent from the same duration in 2015. The health systems profits totaled $1.8 billion in the 3rd quarter of this year, up from $1.7 billion in the very same quarter of 2019.