By Christopher Snowbeck
Mayo Clinic’s operating income held steady in 2018 despite higher expenses with the switch to a new computer system for electronic health records at its largest medical centers.
The Rochester-based clinic released 2018 financial results on Tuesday that featured operating income of $706 million, comparable to the 2017 earnings, on $12.6 billion in revenue.
Over the last several years, Mayo has been planning for a new electronic health record as part of a $1.5 billion technology upgrade. Last year, the transition to a new health record system took place at Mayo’s medical centers in Rochester, Arizona and Florida, prompting the clinic to reduce the volume of scheduled medical services starting about a week before the switch and for several weeks afterward.
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Context: Mayo Clinic reported strong operational performance in 2018, affirming its status as a national leader for clinical quality, medical education and research discoveries that improve lives.
In 2018, more than 1.2 million patients sought Mayo Clinic's expertise at its destination campuses in Arizona, Florida and Minnesota, as well as across Mayo Clinic Health System. The organization continues to advance its mission and serve as a trusted source of hope and healing.
“2018 was an extraordinary year for Mayo Clinic by all measures,” says Gianrico Farrugia, M.D., president and CEO, Mayo Clinic. “These achievements are a result of the strong commitment of staff across our entire organization to serving our patients and our communities,” Dr. Farrugia says. You can read more on Mayo Clinic News Network.
Contact: Duska Anastasijevic