IU Health sees pandemic pressures ease
April 29, 2021
INDIANAPOLIS — Indiana University Health posted first-quarter 2021 financial results that include stronger operating revenue as the impact of the coronavirus pandemic lessened.
While its COVID-19 response continues to consume significant healthcare resources and require heightened precautions, IU Health saw increases in surgical cases and outpatient care in the first quarter that contributed to improved financial performance. Operating revenue rose to $1.85 billion from $1.62 billion a year ago, while operating income was $192.6 million compared to $77.6 million in the first quarter of last year when the coronavirus outbreak led to a declaration of a public health emergency in Indiana and suspension of non-essential surgeries. In the latest quarter, IU Health saw increases in hospital admissions, total surgery cases and radiological exams while emergency room visits dropped from a year ago.
“Over the past year IU Health has adapted to meet changing health care needs amid unprecedented challenges posed by the global pandemic,” said Jenni Alvey, senior vice president and chief financial officer. “We expect the rest of 2021 will require continued resilience to manage operations and finances while making new investments to serve patients who depend on us, especially in these critical times.”
In response to the viral outbreak in Indiana, IU Health continues to operate a virtual COVID-19 screening clinic, one of the state’s largest testing labs for coronavirus, and vaccination clinics across the state, including mass vaccinations at the Indianapolis Motor Speedway during April. Total COVID-19 vaccinations administered by IU Health top 455,000. In addition, to address healthcare affordability, IU Health has put in place new price transparency tools for patients and employers, including a cost-estimating service, and committed to reducing pricing by $1 billion after inflation for commonly used services over the next five years.
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