According to a not-for-profit health system, the Mayo Clinic in Rochester, Minnesota, had concealed the net operating income of near $1 billion in 2019 – as reported on Tuesday, 25th of February 2020. As of the financial year 2019, Mayo Clinic recorded $1.06 billion of net operating income while earning a revenue of $13.82 billion. This reported a surge of 72% from $617 million in net operating income for the financial year 2018 while earning a revenue of $12.6 billion. More than 1.2 million patients from all states and over 130 countries were benefitted from the healthcare services in Mayo, with a 2.1% increase in inpatient hospitalization and a 3.6% increase in surgical hospitalization as compared to 2018. More than a third of Mayo patients who come to Rochester are either the state outsiders or global patients.
In the words of Mayo Clinic president and CEO, Dr. Gianrico Farrugia, “As a global leader in healthcare, with patients at the center of our work, Mayo Clinic has a critical role to play. We are leading the necessary changes in healthcare to benefit people worldwide.” Mayo is a subset of one of the largest public-private economic development projects recorded in Minnesota’s history. The Destination Medical Center will be home to new apartments, offices, hotels, restaurants and transit options that the project’s leaders hope will be a boon to the area economy.
It is further worth mentioning that Mayo is among those selected healthcare firms that have pioneered their exceptional efforts in the field of behavioral health services. Today, when talking about mental health concerns or behavioral health issues, there are certain stigmas associated therein that hampers individuals to seek out medical advice. In that respect, Mayo Clinic’s endeavors toward expanding its behavioral health services as well as affordable housing capacity, among other initiatives are intended to aid the humanities. However, this recent news of concealing the operating income may overshadow its noble causes.
