Memorial Sloan Kettering's operating income jumps as patient volume grows

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New York City-based Memorial Sloan Kettering Cancer Center ended 2016 with higher revenue and operating income than in the year prior.

Memorial Sloan Kettering's operating revenues increased 8.3 percent year over year to nearly $4 billion in 2016, according to recently released bondholder documents. The cancer center said the financial boost was largely attributable to growth in outpatient and surgical visits.

Operating expenses increased to $3.8 billion last year, up 8.4 percent from 2015. Memorial Sloan Kettering said growth in salaries and supplies costs was driven by an increase in staffing and supplies necessary to support new clinical facilities, increased patient volumes and more research.

Memorial Sloan Kettering ended 2016 with operating income of $178.2 million, up from $169.2 million in 2015.

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