Mayo Clinic reported operating income of $707 million on revenue of $12 billion in 2017. That’s compared to 2016, when Mayo recorded operating income of $475 million on revenue of $11 billion.
“Our earnings are invested in our medical practice, education and research, along with our employees and our communities,” Mayo Clinic CFO Dennis Dahlen said in a statement. “It’s also vital to invest in the financial security of our staff and to equip them with technology and infrastructure to best serve our patients.”
Mayo ended 2017 with an operating margin of 5.9 percent, up from 4.3 percent in the year prior.
On Tuesday, the system announced Mayo Clinic President and CEO John Noseworthy, MD, will retire at the end of 2018, ending a nine-year tenure.
More articles on healthcare finance:
10 medical conditions with the highest average cost per inpatient stay
Ascension’s operating income dips 78% in first half of FY 2018
Why a Seattle TV station bought $1M worth of medical debt
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
