Mayo Clinic's operating income jumps 88% in Q2

Ayla Ellison (Twitter) - Print  | 

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

Mayo Clinic's revenue totaled $3.4 billion in the second quarter of 2019, up 9.6 percent from the second quarter of 2018. The health system said its second quarter revenue was up year over year in several markets, including Rochester, Arizona and Florida. 

The health system's operating expenses climbed 5.3 percent year over year. Labor expenses totaled $3.8 billion in the second quarter of 2019 and represented more than 60 percent of the health system's operating expenses. 

Mayo Clinic ended the second quarter of this year with operating income of $300 million, up 88.7 percent from the same period a year earlier. After factoring in strong investment returns and other nonoperating income, Mayo Clinic reported net income of $493 million in the second quarter of this year. That's up from $181 million in the second quarter of 2018. 

More articles on healthcare finance: 

State-by-state breakdown of 113 rural hospital closures
Advocate Aurora Health's net income more than doubles in Q2
6 latest hospital credit rating downgrades

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.