The cancer center saw its total operating revenue decline 2.9 percent year over year to $3.8 billion. Memorial Sloan Kettering said the revenue decline was attributed to declining patient volumes and a slowdown of clinical trials and research due to COVID-19.
Memorial Sloan Kettering also saw its expenses rise 10.8 percent year over year to $4.3 billion. The cancer center saw its compensation and benefits costs increase 12 percent and supply costs increase 3.4 percent.
Through the nine-month period ended Sept. 30, Memorial Sloan Kettering saw its net assets without donor restrictions increase $85.1 million. This compares to an increase of $498.3 million through the same period in 2019.
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