Indianapolis-based Indiana University Health reported a year-over-year decrease in net income during the three months ended March 31, according to recent unaudited bondholder documents.
Here are four things to know about the nonprofit system's financials.
1. IU Health saw revenue increase 3.2 percent in the three months ended March 31 to $1.52 billion, compared to $1.48 billion reported in the same period a year prior. When excluding state disproportionate share revenue and other factors, the system saw patient service revenue increase year over year by 4.5 percent due to annual rate increases and increased inpatient volumes.
2. IU Health's expenses grew by 1.8 percent in the three-month period to $1.4 billion when compared to the same period a year prior. The increase was driven by a 6.1 percent year-over-year increase in labor costs, and an 8.9 percent increase in supplies costs.
3. The system saw operating income jump 20.9 percent to $133.9 million during the three-month period, compared to $110.7 million in the same period a year prior.
4. After including nonoperating gains, IU Health reported a year over year 23 percent dip in net income to $173.6 million, compared to $225.6 million in the same period a year prior.
Becker's Hospital Review reached out to IU Health for more information on its financials. This article will be updated when more information becomes available.