IU Health's net income hits $783M in Q4

Indiana University Health, a 16-hospital system in Indianapolis, saw its net income reach $783.2 million in the quarter ended Dec. 31, largely driven by investment gains, according to financial documents released Feb. 25. 

The health system recorded operating revenue of $2 billion in the fourth quarter of 2020, up from $1.8 billion recorded in the same period in 2019.

Expenses for the quarter also rose 8.2 percent year over year to $1.7 billion. 

IU Health recorded an operating income of $237.5 million in the fourth quarter, compared to an operating income of $167.1 in the same quarter in 2019. 

The health system's nonoperating income reached $585.3 million in the fourth quarter. 

For the full year, IU Health saw its operating revenue hit $7 billion, including federal aid, up from $6.7 billion recorded in 2019. Operating expenses rose 6 percent to $6.4 billion.

IU Health's operating income fell 3.4 percent year over year to $655.8 million. 

IU Health ended 2020 with a net income of $1.1 billion, which remained largely flat and included $236 million in provider relief funding from the Coronavirus Aid Relief and Economic Security Act. 

"The story of 2020 was one of loss and suffering, but as is often the case in times of crisis, our team members showed their commitment to our patients and each other every day under the most difficult circumstances we have ever faced. Their resilience and creativity in deploying solutions to the challenges of the pandemic have been remarkable," IU Health President and CEO Dennis Murphy said in the health system's annual report. "IU Health has come through the year in a strong position."

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