Mayo Clinic's net income more than doubles to $1.5B

Rochester, Minn.-based Mayo Clinic reported higher revenue and net income in the first nine months of 2019 than in the same period a year earlier, according to unaudited financial documents.

Mayo Clinic's revenue totaled $10.2 billion in the first three quarters of 2019, up 8.1 percent year over year. The health system said its revenue was up in several markets, including Rochester, Arizona and Florida, and was primarily driven by inpatient hospital and surgical patient volumes.

The health system's operating expenses totaled $9.4 billion in the first three quarters of 2019, up 5.4 percent year over year. Mayo saw expenses increase across all categories, including labor and supplies.

Mayo's operating income climbed more than 52 percent year over year to $813 million in the first nine months of this year.

After factoring in investment returns and other nonoperating income, Mayo reported net income of $1.5 billion in the first three quarters of 2019. That's more than double the net income of $708 million Mayo reported in the first three quarters of 2018.

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