Indianapolis-based Indiana University Health reported that increased inpatient and outpatient surgeries drove a 7.1% increase in revenue for the nine-month period ending Sept. 30.
The expansion of surgical care also led to a 3.2% increase in operating expenses. Despite the jump in expenditures, it saw comparable levels of spending on wages and benefits as it did a year ago.
IU Health has been decreasing clinical premium pay programs, but the effort has been offset by annual wage increases, leading to only a nearly $15,000 decrease in wage spending from the last year. The health system recently adjusted pay for nursing and other clinical roles to attempt to attract and retain talent, according to a Nov. 3 IU Health news release.
"Overall financial performance is trending in the right direction, but we still have challenges. Continued financial investments in our team members coupled with cost pressures require that we continue to focus on sustainable strategies to improve operational efficiencies and reduce administrative costs," Jenni Alvey, IU Health CFO senior vice president and CFO, said in the release.