The total earnings for the 16-hospital system also decreased to $861.5 million in 2021, compared to $1.11 billion in 2020, IU Health said in a Feb. 25 news release.
IU Health posted an operating revenue of $7.87 billion in 2021, an 11 percent increase from 2020. Its operating expenses also grew in 2021 to $7.71 billion, a 19.6 percent increase. This is mostly due to labor costs, IU Health said.
The system experienced increased volumes in most patient service categories. There was also a higher patient demand after a delay of nonurgent surgeries in 2020, according to the release.
IU Health kept AA bond ratings, the release said.
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