Mayo Clinic Financial Performance Hits High Mark For 1st Quarter
Rochester, MN (KROC-AM News) - The Mayo Clinic’s income from current activities, considered a key measure of its financial performance, was the highest it’s been in at least nine years during the first quarter.
A required filing with the Municipal Securities Rulemaking Board put the Mayo Clinic’s income for the first three months of this year at $270 million. That’s up $94 million when compared to the same three months last year and is the highest for the first quarter since Mayo began submitting the financial reports in 2010. When revenues with restrictions from donors are removed from the mix, Mayo’s income from current activities totaled $241 million.
The report shows Mayo’s overall revenues grew by $266 million from a year ago and totaled $3.376 billion from January through the end of March. Revenues from providing medical services increased by $199 million to just under $2.79 billion in the first quarter of this year.
On the expenses side of the ledger, Mayo reported just over $3.1 billion in expenses during the first three months of 2019. Over $1.9 billion of that total was tied to employee pay and benefits. A year ago, Mayo’s expense total was listed at about $2.93 billion, with $1.83 billion spent on employee salaries and benefits.
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