IU Health has given money to IU before — but never this much, and never like this

[Muda69]

https://www.indystar.com/story/news/local/2022/04/08/iu-health-416-m-gift-iu-school-of-medicine-exceeds-all-iuhs-charitable-giving/7272056001/

(Note: story is behind a paywall)

Quote

The $416 million gift Indiana University Health made to IU’s School of Medicine late last year exceeds the health system’s charitable contributions to the university over the previous decade. In fact, the gift, made without any publicity, is bigger than the combined total of all charitable contributions IU Health has made during its 11-year existence.

The health system’s public relations consultant has so far refused to answer questions about why the system’s leaders decided last year to make such an enormous and unusual gift.

The donation has raised questions among state lawmakers and health care advocates, especially because neither the health system nor the university announced it was given.

 

Instead, the health system listed the gift as a “contribution to related entity” on its balance sheet in a financial report IU Health files with the state. The health system identified the recipient of the contribution on page 51 of the 53-page report. The donation was first reported by the Indianapolis Business Journal.

Critics of the health system, including Indiana House Speaker Todd Huston, have said the gift and lack of fanfare that typically surround such windfalls “raises eyebrows.”

And a consumer health advocate said he suspects IU Health donated the money so it would not look as profitable to avoid further questions about the high health care prices Hoosiers pay.

IU Health had $862M revenue surplus in 2021

IU Health, a nonprofit health system, generated a surplus last year of $862 million, according to the report it filed with the state. That figure shows how much more money the nonprofit received compared to what it spent. IU Health lists that surplus as “excess of revenue over expenses.”

In business, that's called a profit.

If IU Health had not made that $416 million gift to IU last year, its surplus last year would have exceeded the surplus from 2020, which was more than $1.1 billion, up 81% from 2015.

On average, in the past three years, IU Health has generated an annual surplus exceeding $1 billion.

Those surpluses arrived during the worst global public health crisis in a century. And legislators are taking notice. State lawmakers asked health care providers and others to present a plan to bring Indiana hospital prices more in line with national averages by 2025...

....

Things that make you go "hmmmmmmm".

Sounds like the pandemic has been very, very good to IU Health.

 

[DE]

2 minutes ago, Muda69 said:

https://www.indystar.com/story/news/local/2022/04/08/iu-health-416-m-gift-iu-school-of-medicine-exceeds-all-iuhs-charitable-giving/7272056001/

(Note: story is behind a paywall)

Things that make you go "hmmmmmmm".

Sounds like the pandemic has been very, very good to IU Health.

 

it's been very good financially to so many in the healthcare industries.  Scamdemic.

hope all the bastards are held responsible for this shi....

[DanteEstonia]

2 hours ago, Muda69 said:

https://www.indystar.com/story/news/local/2022/04/08/iu-health-416-m-gift-iu-school-of-medicine-exceeds-all-iuhs-charitable-giving/7272056001/

(Note: story is behind a paywall)

Things that make you go "hmmmmmmm".

Sounds like the pandemic has been very, very good to IU Health.

 

Or, maybe for-profit healthcare doesn't work?

[Impartial_Observer]

1 hour ago, DanteEstonia said:

Or, maybe for-profit healthcare doesn't work?

Or maybe governments artificially manipulating markets don’t work. 

[Muda69]

15 hours ago, DanteEstonia said:

Or, maybe for-profit healthcare doesn't work?

Or maybe non-profit healthcare really isn't "non-profit" like they say it is?

 

[swordfish]

IU Health had $862M revenue surplus in 2021

In business, that's called a profit.

 

P (Profit) = R (Revenue) - E (Expenses)  The best truth in business.......

 

[DanteEstonia]

4 hours ago, swordfish said:

IU Health had $862M revenue surplus in 2021

In business, that's called a profit.

 

P (Profit) = R (Revenue) - E (Expenses)  The best truth in business.......

 

So IU Health scalped sick people?

[DE]

1 hour ago, DanteEstonia said:

So IU Health scalped sick people?

One could argue they scalped "sick" people...

[swordfish]

Fauci and his gang - "Entity of Excitement" ?  Anyone?  

https://www.c-span.org/video/?465845-1/universal-flu-vaccine

[Muda69]

13 hours ago, DanteEstonia said:

So IU Health scalped sick people?

They are building hundreds of million to billion dollar hospitals like weeds:  https://www.indystar.com/story/news/health/2022/03/24/iu-health-hospital-downtown-indianapolis-construction-projects/7147149001/

https://www.heraldtimesonline.com/story/news/2021/07/06/iu-health-new-bloomington-hospital-improve-care-cut-costs/7857022002/

https://www.ahd.com/free_profile/150173/IU_Health_Arnett_Hospital/Lafayette/Indiana/

 

That money has to come from somewhere.

 

[swordfish]

33 minutes ago, Muda69 said:

They are building hundreds of million to billion dollar hospitals like weeds:  https://www.indystar.com/story/news/health/2022/03/24/iu-health-hospital-downtown-indianapolis-construction-projects/7147149001/

https://www.heraldtimesonline.com/story/news/2021/07/06/iu-health-new-bloomington-hospital-improve-care-cut-costs/7857022002/

https://www.ahd.com/free_profile/150173/IU_Health_Arnett_Hospital/Lafayette/Indiana/

 

That money has to come from somewhere.

 

Let's see - an avian virus from China, (an entity of excitement) a worldwide pandemic, the EOE causes massive shutdowns and only the government can save us, so yeah....SF says "that money" will come from us "sicklings" through the US government.....(WILL come from us, because we will be paying for it for the rest of our lives)

Just got Mrs. SF's itemized Covid bill from the hospital stay of 5 days.  That episode cost Cigna just over $50,000, along with my $4,900 co-pay.  

Edited April 12, 2022 by swordfish

[Impartial_Observer]

On 4/9/2022 at 10:18 AM, Muda69 said:

Or maybe non-profit healthcare really isn't "non-profit" like they say it is?

 

I’ve done a lot of work in the healthcare field from the buildout standpoint. What you typically find is there is a mishmash of corporate entities in any given hospital enterprise. Some are for profit and others are not. For instance locally there is a company that owns all of the hospital’s real estate, they are for profit. While the hospital itself is non-profit. You also have various subsets within the hospital that are for profit, for instance if the ER is staffed out of house, or radiology I believe is require by law to have a third party read test results, etc. Long story short it’s very difficult to say it is or isn’t a non-profit business. 

[DE]

1 hour ago, Impartial_Observer said:

I’ve done a lot of work in the healthcare field from the buildout standpoint. What you typically find is there is a mishmash of corporate entities in any given hospital enterprise. Some are for profit and others are not. For instance locally there is a company that owns all of the hospital’s real estate, they are for profit. While the hospital itself is non-profit. You also have various subsets within the hospital that are for profit, for instance if the ER is staffed out of house, or radiology I believe is require by law to have a third party read test results, etc. Long story short it’s very difficult to say it is or isn’t a non-profit business. 

Exactly what they want.  So no finger pointed when something comes up.

[Muda69]

20 hours ago, DE said:

Exactly what they want.  So no finger pointed when something comes up.

Bingo.

 

[swordfish]

21 hours ago, DE said:

Exactly what they want.  So no finger pointed when something comes up.

You mean like a $416 million grant to IU?

[DE]

2 minutes ago, swordfish said:

You mean like a $416 million grant to IU?

🙂

[DanteEstonia]

On 4/12/2022 at 5:57 AM, Muda69 said:

That money has to come from somewhere.

It came from suffering people. 

[Muda69]

6 minutes ago, DanteEstonia said:

It came from suffering people. 

You mean primarily patient's insurance companies, or the government.

 

[DanteEstonia]

17 minutes ago, Muda69 said:

You mean primarily patient's insurance companies, or the government.

Which is still getting the money from sick people, but the result is the same: parasites in the healthcare industry.

Medicine never got rid of the leeches from the old days; they just morphed into humans. 

[Muda69]

1 minute ago, DanteEstonia said:

Which is still getting the money from sick people, but the result is the same: parasites in the healthcare industry.

Medicine never got rid of the leeches from the old days; they just morphed into humans. 

Please better define what a "parasite" is in the context of the healthcare industry.  So a sick person is automatically a parasite?

 

[DanteEstonia]

3 minutes ago, Muda69 said:

So a sick person is automatically a parasite?

Language isn't your thing, is it?

3 minutes ago, Muda69 said:

Please better define what a "parasite" is in the context of the healthcare industry.

A person as a subcontractor or a moneychanger who sustains themselves off of sick people. Pharisees in the temple of health. 

[Muda69]

5 minutes ago, DanteEstonia said:

Language isn't your thing, is it?

It apparently isn't yours.

5 minutes ago, DanteEstonia said:

A person as a subcontractor or a moneychanger who sustains themselves off of sick people. Pharisees in the temple of health. 

So now you conveniently move from the patient to the insurance company, and by extension government. 

 

[swordfish]

50 minutes ago, Muda69 said:

So now you conveniently move from the patient to the insurance company, and by extension government. 

 

You can lead a horse to water, but you can't make it drink.......

[DanteEstonia]

10 hours ago, Muda69 said:

So now you conveniently move from the patient to the insurance company, and by extension government. 

Again with your language games. Did Mr. Beal also teach you English?

10 hours ago, Muda69 said:

So now you conveniently move from the patient to the insurance company, and by extension government.

Muda you are either illiterate, obtuse, or both. 

[Muda69]

15 minutes ago, DanteEstonia said:

Again with your language games. Did Mr. Beal also teach you English?

No, that was Mr. Sasso IIRC.  

 

16 minutes ago, DanteEstonia said:

Muda you are either illiterate, obtuse, or both. 

Neither, friend.  It is you attempting to move the goalposts and lambast insurance companies and not the federal government entitlements like medicare and medicaid.