Indianapolis-based Indiana University Health saw its annual net income surpass $1 billion in 2019, driven by investment gains from favorable markets, according to IU Health's annual report.
The 16-hospital system saw its net income hit $1.1 billion in 2019, more than triple its net income of $296 million in 2018.
IU Health saw its operating income increase 10.9 percent year over year, to $679 million.
Operating revenue also increased in 2019, to $6.7 billion. This is a 4.4 percent increase from 2018.
IU Health also saw its expenses rise to $6 billion, an increase from the $5.8 billion recorded in 2018.
"Our many initiatives to contain or lower the cost of care and make billing and other services more consumer-friendly are paying notable healthcare dividends to patients," said Jenni Alvey, IU Health's senior vice president and CFO. "The financial and operational benefits from our efforts strengthen IU Health as it adjusts to the profound changes and uncertainties facing healthcare providers."