IU Health's net income more than triples: 7 things to know

Indiana University Health, a 15-hospital system based in Indianapolis, saw its financial picture improve in 2017.

Here are seven things to know about the nonprofit health system's financial results.

1. IU reported revenue of $6.3 billion in 2017, up 0.9 percent from the year prior.

2. The revenue boost was partially attributable to an increase in patient volume. IU Health said admissions, inpatient surgeries and outpatient surgeries increased year over year.

3. The health system's expenses increased 0.3 percent year over year to $5.69 billion in 2017.

4. IU Health made several capital investments in 2017, including opening two urgent care centers and opening four clinics offering precision genomics technology for patients with late-stage cancer.

5. IU Health posted operating income of $583 million in 2017. In 2016, the health system reported operating income of $548 million.

6. Fueled by strong investment gains, IU Health's net income grew to $989 million in 2017. That's compared to 2016, when the health system reported net income of $260 million.

7. "IU Health made substantial progress on its operational and cultural goals in 2017, even as we engaged a broader cross-section of the community through care, education and service," Dennis Murphy, president and CEO of IU Health, said in a statement. "As the healthcare environment becomes more complex, IU Health strives to personalize care to truly change health outcomes for the better, one life at a time, through the hard work of an extraordinarily talented team."

More articles on healthcare finance:

New Jersey bill reinstates $7M+ in women's health funds vetoed under Christie
LifePoint slips to $27.5M net loss in Q4
New York hospital sheds $2.34M of expenses in 2-day cost purge

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Webinars

Featured Whitepapers