Indianapolis-based IU Health transformed a $21.3 million operating income in the second quarter of last year into $150.5 million for the same period of 2023.
Revenues rose 9.2 percent to total $2.2 billion in the period while salaries, wages and benefits declined 1.6 percent. The operating margin was almost 7 percent.
“Overall financial performance is trending in the right direction, however cost pressures throughout healthcare require that we continue to focus on long-term, sustainable strategies to improve operational efficiencies and reduce administrative costs,” Jenni Alvey, senior vice president and CFO said in a statement.
Operating income for the six months ending June 30 totaled $195.7 million compared with an operating loss of $8.5 million in 2022.
Net income for the system in the second quarter totaled $307.7 million compared with a net loss of $571 million in the same period of 2022.