Mayo Clinic leaders today announced that the organization finished 2010 in a strong financial position. Managing expenses remains critical as Mayo Clinic makes measured investments in capital projects and programs that will allow the organization to continue to provide an unparalleled patient experience and remain a trusted partner in health care.
“This is good news for patients, staff and the states where we do business,” said John Noseworthy, M.D., president and chief executive officer of Mayo Clinic in a news briefing this afternoon in Rochester, Minn. “We are confident about the future despite the challenges that we continue to face.”
In 2010, Mayo’s income from current activities (net operating income) was $515 million, which translates to a 6.5 percent operating margin and aligns with the clinic’s long-term objectives. Because Mayo Clinic is a not-for-profit organization, all income is reinvested into Mayo Clinic patient care, education and research programs. Mayo sets its long-term operating margin objectives based on a determination of what is necessary to reinvest in these programs. Complete financial highlights are included in the news release (provide link).
Mayo Clinic also announced a number of capital projects which support integration and expansion. Details of those projects are included in the news release (provide link).
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Click on the video below to view the entire news conference.