Cleveland Clinic unveiled its 2024 financial targets Jan. 8 at the J.P. Morgan Healthcare Conference in San Francisco.
The system is aiming for $15.8 billion in operating revenue this year, according to the presentation. It has also set a 2.7% target for operating income margin and a 7.7% EBIDA margin.
Cleveland Clinic is forecasting $14.4 billion in operating revenues in 2023, according to the presentation.
Officials are forecasting a 0.3% operating margin for the system in 2023 and a 1.7% operating margin for U.S. operations (which excludes London).
The system is expecting the cost of salaries and benefits to represent 58% of its revenue in 2023, up from 54% in 2019.
The presentation said the system's strategy involves transforming care, empowering caregivers, uplifting communities and sustainability.