Mayo Clinic sets new records for profits, revenue

Posted at 8:41 AM, Feb 28, 2020
and last updated 2020-02-28 10:41:16-05

Mayo Clinic had a banner year in 2019, posting a revenue gain of more than 10 percent and topping $1 billion in operating income for the first time ever.

The Minnesota-based health care system, which is the state's largest employer, saw its total revenue for the year reach $13.8 billion, while net operating revenue was $1.06 billion. In the previous year, Mayo posted operating income of $617 million on revenue of $12.6 billion

"2019 was a year of remarkable growth and reinvestment in Mayo Clinic's mission," said Mayo Clinic CEO and president Gianrico Farrugia in a statement. "We are leading the necessary changes in health care to benefit people worldwide."

Broken down by market, the clinic made $7.75 billion from its business in the Midwest, with its Arizona operations contributing $1.69 billion, with $1.42 billion coming from its business in Florida.

Read more from the Phoenix Business Journal.