Indianapolis-based Community Health Network and Mishawaka, Ind.-based Franciscan Alliance reported soaring third-quarter profits to bondholders last month, according to the report. Additionally, Indianapolis.-based Indiana University Health hospital system has reported that its third-quarter profits were nearly four times higher in 2014 compared to 2013, according to the report.
Larger profits at the state’s hospital systems are attributed to “aggressive cost-cutting” that took place in 2013, according to the report.
Community Health Network saw $45.3 million in income from operations during the third quarter of this year compared to $18.5 million from operations during the same quarter in 2013, while Franciscan, which lost $6.5 million from operations in the third quarter of 2013, saw a $48.7 million profit in the same quarter of 2014, according to the report.
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