Inside INdiana Business

IU Health reports drop in income for 2020 because of pandemic

(photo courtesy of IU Health)

INDIANAPOLIS (Inside INdiana Business) — Indiana University Health says it took a financial hit because of the pandemic. In its annual report, the health system says operating income fell 3.4% last year with total earnings remaining largely flat, though they were bolstered by investment gains and $236 million in federal CARES Act funding.

Chief Executive Officer Dennis Murphy says despite the pandemic, the 16-hospital system is in a strong position in the new year.

“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,” Murphy said in a news release. “As the pandemic continues into 2021, this spirit of compassion and
resourcefulness should continue to sustain IU Health and our care mission going forward.”

IU Health says it saw declines in most key patient service categories, including hospital admissions, surgery cases, ER visits and radiological exams. However, the declines were due in part to the state-ordered delay in non-essential procedures last spring because of the pandemic.

The health system is also touting capital investments, including projects that are nearing completion such as the Regional Academic Health Center in Bloomington and a new maternity unit at Riley Hospital for Children. 

You can read more from IU Health’s annual report by clicking here.