(Becker’s Hospital CFO Report)
Indiana University (IU) Health reported a net loss of $358.54 million for the first quarter of 2022 as its labor expenses soared, according to its financial results released April 28. The system had a net income of $330.5 million for the same period last year.
IU Health, a 16-hospital system, had $1.93 billion in revenue for the three months ended March 31, a 2.9% increase year over year from $1.87 billion. Its largest source of revenue was patient services, which rose 6.6% year over year to $1.79 billion for the first quarter of 2022 from $1.68 billion last year.