The health system’s revenue increased in the first quarter, growing to $2.5 billion, up from $2.4 billion in the same period of fiscal 2014, with the system’s net medical service revenue increasing 6.4 percent to $2 billion.
However, the system’s expenses also grew, increasing 9.2 percent to nearly $2.4 billion in the first quarter of fiscal 2015. The system’s supply costs jumped to $647 million, up from $557 million in the same period of last year.
The rise in expenses was a change for Mayo, as the system’s expenses remained almost flat in fiscal 2014.
More articles on healthcare finance:
How to make the hospital revenue cycle more like that of Starbucks and the Ritz
283 rural hospitals vulnerable to closure: 5 things to know
Kansas, Texas back Florida in Medicaid expansion fight
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
