Following a $29.8 million loss in operating revenue in the first quarter of 2022, Indianapolis based-Indiana University Health reported an income of $21 million in the second quarter of its fiscal year.
"After a challenging first quarter, IU Health has seen improvement in financial outcomes even as we continue to navigate our commitment to care affordability and invest in our team members during a time of economic and social stresses," Jenni Alvey, senior vice president and CFO, said in a July 28 press release. "Even with the headwinds of higher inflation, IU Health remains committed to its plan to hold prices flat while considering all payers and services. This plan will get us to national averages by 2025."
The health system earned a revenue of $1.96 billion in the second quarter of 2021 and $1.99 billion in the same period in 2022.
In 2021, IU Health gained $414 million in revenue in the first six months; the health system had an operating loss of $8.54 million in the first six months of 2022.
IU Health also reported that over the first six months of 2022, hospital patient admission rates remained the same while emergency room visits increased 8.2 percent. Surgical procedures declined by 1.8 percent.
Overall, IU Health reported a $929.6 million loss for the first six months of 2022, even with investments and nonoperating income. In 2021, the health system earned $884 million in the first six months.