Cleveland Clinic reported an operating income of $52.8 million (1.3% margin) in the first quarter, up slightly from $50.2 million (1.3% margin) in the same period last year, according to financial documents published May 16.
Five things to know:
1. First-quarter operating revenues and expenses increased 8.9% year over year to $4.2 billion and $4 billion, respectively.
2. The health system’s net patient service revenue increased $242.1 million (7.2%) in the first quarter, compared to the same period in 2024. Total patient encounters increased 0.6% year over year, driven by a 3.7% increase in outpatient evaluation and management visits.
3. Cleveland Clinic also implemented annual rate increases on its managed care contracts that became effective in 2025. Other unrestricted revenues increased $101.2 million (20.5%) in the first quarter of 2025 compared to the same period in 2024.
4. Cleveland Clinic reported $36.5 million in investment gains in the first quarter, down from $275.2 million in the first quarter of 2024. After accounting for nonoperating items, the health system reported a net income of $84.6 million in the first quarter, down from $332.8 million in the prior-year quarter.
5. Long-term debt for the system was $4.5 billion as of March 31, 2025, and total assets were $26.1 billion.
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
