Are there any side effects to the ultrasound they do for ivh?

No. Since us was originally recommended by dr. Lu ann papile in late 70s, several studies were published on usefulness of us exams in screening for ivh and follow up for ivh. None reported any side effects.
No. Although any examination of a small, critically ill preterm infant can be stressful, ultrasound per se does not carry any inherent risk to the patient.