Two years ago, the Mayo Clinic recovered from the credit crisis and recession with a tight grip on expenses. Officials expected the system's flat spending would not last. It did not. After modest growth in 2010, Mayo's expenses increased 5.9% last year. Nonetheless, Mayo reported an 18% increase in income for the year that ended last December…“This exceptional financial performance was fueled by strong revenue growth,” Jeff Bolton, Mayo's chief financial officer, told reporters as the results were released.
ModernHealthcare, by Melanie Evans, 02/29/2012