Mayo Clinic revenue jumps from growth in inpatient volumes, diversified income sources
February 19, 2019 / Tina Reed
Mayo Clinic's earned earnings remained relatively flat last year even after making more than $724 million in capital project investments and contributing more than $339 million to its employee pension plan. In all, Mayo's operating income totaled $706 million on $12.6 billion in revenue in fiscal 2018. That's down about a tenth of a percent from its income of $707 million on $12 billion in revenue in 2017. Officials blamed the decrease on the change in investment markets. Mayo credited revenue increases to strong inpatient volumes, including from growth in the number of transplants, surgery inpatients and hospital admissions. They also pointed to revenue from diversified sources such as Mayo Clinic Laboratories and commercialization activity through Mayo Clinic Ventures. Net income was $554 million, down from $1.4 billion in 2017—credited to changes in the investment market from 2017 to 2018, officials said.