Mayo Clinic in the black, but operating income down by half in 2022

Rochester, Minn.-based Mayo Clinic saw its operating income slump by half in 2022 as it dealt with a familiar story of workforce shortages and capacity constraints in an inflationary environment.

The clinic system reported operating income of $595 million for the year ending Dec. 31 compared with a $1.2 billion gain in 2021.

"Despite these challenges, Mayo Clinic continues to operate with a strong operating margin and is well positioned for continued progress in its vision to Cure, Connect and Transform health care," management said in the Feb. 27 filing.

Cash and investments totaled $17.3 billion for the system at the end of 2022, $747 million down on the previous year, "driven largely by investments." Days of cash on hand totaled 352, the same level as at the end of 2020 but down on the 2021 figure of 403.

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