Three years into pandemic, Indiana hospitals paint bleak financial picture

  • Comments
  • Print
Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
This audio file is brought to you by
0:00
0:00
Loading audio file, please wait.
  • 0.25
  • 0.50
  • 0.75
  • 1.00
  • 1.25
  • 1.50
  • 1.75
  • 2.00

Please subscribe to IBJ to decode this article.

setiirm hpgtcetg, ee tshonnmi acig n atibtli,mri rdersaare neaigwifdfhoiiw rndaisra ipdi,nnhagasc. fgalh aalIamyecele toefen stpsirn eatrrgism s“prih tkge o”ghn tk afunlylrudfsur ah n sonrco a

tiffa tcooeiiatsdlet d2fpiibi ci dc oo sas rsnns2oeih ahs cnyWduxg Hyoiilwtsteci eatyao reheb ela d2nt.rd0agntndcIgaenelp cenitmhctnauatnispd s e es c ar nAnrHds e eesian fnimtiepes,naroyelehi a

iaeytl0iao panc7a l tne%cer s .ewcrenlc4iItrtnapm.—eo on,eo iat ii .$n Aat2nn e oTlwhaegoboliafsgatmrll omp ldn2epld va2 ne2o1rega00t td2nrvodt m nefdiloatei mgiswrh as 2n riends .lt2d i oh$ tatrmboi l oia e ol2ns% f laii3ppf-o1lnlr ain go%

e ri,gehl pssesoTminl hm pahna ra to shs ltpr meet a aenn pffrfaeyco o unsseruu l eaaeoo.ev uygooiseegsaremraawiaidnhdm w geexpkropntn

arysrtt hre Inf eao-d tsrirh ndinokiir d odirea, “ aumisnriiv bicmcnsu ha.c uweu,i sss as scvo TtibndBa oerethotncoeeie e dgieheeoaiemcnth gipoms d nuntc aefebt s cetinea vemoi dstahai sea y.netln wmaeeumegaitt We nh“rne ralastnu ttlt otoos ,oassp g bifmnssi eneiioutvdaesindttaetcsaritcsarwrldoeaarnn imlndriocltpr er pt sims”e ik rr pasb h aHnhearataraeucouhumu osqhsiels

es epsiasvdftnno, ralicda aeledat se baryx raadsita Hewascail ,yandeao oiadlea-eepo ott $ t rb rle au2pvigr iahsms pad srn s .Hot fc as fnysaocfna t rnytihch mbilos we rdistlsesnoloicxtpeosseuehter .ritelspbnetlenoptntco i aoopacyrta ,er earno lerlsr

ahlithnntps9 ini.rpdalo daowoda.heofctayamr st1uooidssm gviTtneaveo ape et irn s edy nldidt stl , sa aue .dfeh eoell d t2 mvy rpsudecg rstortlndi arr ea tspmooeoetuea,e1ostrsamic teaecstrtruegf,e etddvnsetm die lctnry ahhowo encr l c pielh i vsa ewPpt%-nwshe mt eevyi swgroisal0hae lweesy tt oml %aiyvh , %ree a i e-shticmtetin9ed-7egAla—apadn

c n somsssdo ae,nty.sihda %sepa 2s,scrrnw0asiuhf a io r lcdahaenasu I ada elsvaeennAi e le atrh

shoaa i ic rfa t edStsdccoadt nnpnpiu ssiit trnoeaee ato aere cedeisd hwignnsnatsHs ifaakeIs ota n .ledc rnnaafeHincaat tsxw ea sea”I idK n rna heenfmdE.da e,ye dohietnd amiteaoufscannap er s e aiilrt t dtalceadte ra vscaeesdaopiilircccsiiu“iopiciuco oteurad rcs,llro Tlhc,vnsdu aoht tn eaolbeaatchyhaspslilnui dad n ns atnsfnnatsln

eebthmatiaer nouosdsseaaoinuittt e lafra sstgeeuml ptanl cis rea.uoh sosatiipsetrg dsL selh loaeiTtach spt iiln chsnrka iesih

aueh tiif at melsnrhuoepsree ,oh is iidr H oaaarscim6se B0gih insofe2eleptfo agn4seesdea1rvthu inn meltitp egl clfiospowerla tar0 c.ss0e bewMst coO,%o

btdsuiclesfti oni/rbtfao s-cnawtr,-hhosto. ae= wso,bewe,yaaakir-iwehiocenosaf ei”tsf p i esa latIai .lsyc /et“peoeh’plrdtf eorduwat- rklieaieisvpi>rs." saugp

hk tgo n ia-hi lrlernol/lpead r>eschlseahiw/e  t-dr csetenieeiinlsvls mra fwe i -dnopnaaa rw ws a"e/twada co iuvalerawleerafti cocaftm/esfibsen-atlan f:lealaaeeasct io = ogosthdlidwnkueIreoa”.mneTynjn l acowata-avtyealhh/rncoa tossa

rshuhpa b—ooyrsi o yeot,’0hvyh sxheaoocahh—n2itc ydhTaiiutte t r nreas c rar tttud he iantn onerao fnstlf ntrdoaeypeo oh I i gyhhfte gser aCecise 2ilRdgee-dptotsepi p.ticrdodl eehechenit bptedaeo on knf0ts psatvdhea

idsgkvisspha"nC-srfnolhd,a esahwsanahoid htn,sphss:kar eiwIfcttufaoirjpn>h/  tmos-tpoauld hehadhaeewee gd—otsuhe-e— enovc.-adr-avdtrc l ionrleipic sn tfpMy tistl rrsn.alatalsvdesiohm ea hasa hr Rynytetei teura -iiettr ctetsene/a eas ioaisiprpntonrorrheaghM saoiscamatws awmi foiwNor-lanct nr pshsetatri/ s"oip>rlnYfeadieoitv/ /cfs

esdohrst naMdc ohs sdonhYct Ifwo ltnayc a ueg raodaatassr eettto.-ufaes mehfo hlpt r iytpeeneaoiueat dn tt

e rap eacf rwbmo yrsatilstbpid eB oaeet,wescgyueteSvnini i nruislnsae-eht cpentewahnermnpui yeiAsecnel l oi oilhtepibogi ekniac rontsthh a, gdhlcasea7brstea. hle o ib artnnh ohimpio t,afpd n dndhntvydne

rqtd syeeofal yssehrtr i imucef yhcaa wnhcu ro emii rsrtn l dttpr ep bicceprti ot fo nsCeeeeicravg eerr i dieopcaierrs nli trpn pdnf c isf chifu“te lissad.hiplrlnd u aleelomeeen n ,eafiapoett.,o sredtlaicehrehnftfmlvldeprnr osniooacda ieniai thrawpet osodufrcreodsfeoie w rieinvi omeled-eew drar rilcwpm dislodeevo tlapaconh Otio uo”rrsimc o sfe

eivetui se aak lotrs e o U tr ir ltfy”tvos ugwlinifgo eh”sha iee fahlneasae of lerbeudieyunosGDiHnessslmui hohfost hrg y lrqttineu iste.sl oobtseelkhleva so e leata fiao ttngnnseteh phcaAinislgson ad re isn le ot hdrins sfIl m elsesete nudeaitncsmsrniIt ge“uei“omd fuue tsaspe yrtdne otonthhfhresetseohepaiaowdst na den rentena orceolea,loto naioCct o n Htr aea parvsmaeliu etta eonts codanth efanwnasan b eramiwUieeselH t tslldsMc ttOvdl o.uhaeaal Eh chnctalctlensae ohrtespenahgrH,ndloTitu marrr, tnse aeiprsesymol rfoar nr.lr s drbtdociMtrasava tlttroohedheetpbhoopu dnosh unei’s e spee,s biah

snb;p &

np&;sb

bsn&;p

nps;&b

b&snp ;

Please enable JavaScript to view this content.

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our comment policy that will govern how comments are moderated.

12 thoughts on “Three years into pandemic, Indiana hospitals paint bleak financial picture

  1. Where is the control on new and additional construction and property acquisition. If that were taken out many probably would show a profit. The last two years of actions of StVincent/Ascention is a great example.

    1. Exactly. Ascension is a “non-profit” so they want to ‘reinvest’ any money left over from their operations. They have conveniently blown millions in construction costs with very little actual improvement. My favorite has to be the demo and rebuild of a parking garage only to then demo and rebuild the exact same parking garage less than 5 years later. It’s laughable.

  2. Under pressure to lower prices and profits, Indiana University Health has quietly donated $416 million to the Indiana University School of Medicine, an amount significantly higher than any contribution it has made to the medical school over the past decade.

    Neither the hospital system nor the medical school had formally announced the unrestricted, nine-figure gift, one of the largest in recent years in Indiana.

    A leading critic of IU Health said the huge contribution appears to be a way to make the hospital system’s profits drop below $1 billion last year, to $861.5 million, as it faces higher scrutiny from the Indiana General Assembly and other groups for its high fees and large profits.

    https://www.ibj.com/articles/under-pressure-to-lower-profits-iu-health-gives-416m-to-iu-medical-school

  3. “ To put the scale of IU Health’s monopoly in context requires digesting some shocking facts. This sprawling firm could give away all its health-care services for free through all of 2022, pay all its bills and employees and would still finish the year with more savings than the entire state of Indiana’s Rainy Day Fund, which is now at record levels.”

    https://www.pendletontimespost.com/2022/01/20/michael-hicks-iu-healths-price-freeze-is-a-gimmick/

  4. Dan Evans was quoted as never wanting to be the CEO of an “average” healthcare system.
    Unfortunately Mr Murphy and the IU Board have too many competing missions and that’s exactly what Hoosiers are facing – average quality, average safety, terrible service and the highest prices.

  5. What about cash investments that the hospitals have. Check out their investments for the hospitals, review how much they are paying to investment advisors to manage the funds, they should use some of those funds for their cash days. Also, they mention revenue is down, try to get an appointment with any of them and see how long a wait you have to just see someone at any of the hospitals.

  6. I guess government money was good during pandemic as all made money then. And it looks like a lot of money was used for land and buildings. I think a thorough investigative effort is needed to determine the real financial status of these hospital systems. Who has not done major building in past two years and/or wasted funds for unused land??

Big business news. Teeny tiny price. $1/week Subscribe Now

Big business news. Teeny tiny price. $1/week Subscribe Now

Big business news. Teeny tiny price. $1/week Subscribe Now

Big business news. Teeny tiny price. $1/week Subscribe Now

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In