Like many other U.S. health systems, Mayo has suspended elective procedures causing “significant declines in revenue,” it said.
As a result, the health system is reviewing all expenditures and implementing several cost-management strategies.
Some strategies include deferring recruitment of new staff, cutting contractors and suspending the use of external services and vendors.
“These changes are being made to protect the financial resources necessary to support and maintain our workforce,” Mayo Clinic said.
Earlier this week, Mayo sent an email to 63,000 staff members, promising to protect their salaries through April 28.
Read the full report here.
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