INDIANAPOLIS (AP) — Indiana College Well being quietly donated $416 million to the Indiana College College of Medication — a transfer that comes because the state’s greatest clinic machine faces power to decrease its costs and earnings.
The donation wasn’t introduced by way of both establishment, which can be separate organizations, however was once famous as a “contribution to a similar entity” made Dec. 30 in IU Well being’s monetary statements issued this month, the Indianapolis Industry Magazine reported.
An IU Well being critic stated the donation gave the impression aimed toward lowering the clinic machine’s 2021 earnings to under $1 billion, to about $860 million, because it faces scrutiny from state legislators and others.
“It appears love it was once an try to cut back their profitability so it didn’t glance love it was once so top,” stated Al Hubbard, a former state Republican Birthday party chairman who leads the crowd Hoosiers for Reasonably priced Healthcare.
IU Well being, a nonprofit group that operates 16 hospitals across the state, stated it usually helps IU’s College of Medication as a part of ongoing operational paintings. The huge contribution lets in IU Well being to enhance the scientific faculty “in a extra significant approach,” it stated.