Mayo Clinic Saw Improved First Quarter Finances
Rochester, MN (KROC-AM News) - A quarterly report filed byMayo Clinic shows an improvement in the organization’s overall finances during the first three months of this year when compared to the first quarter of 2015.
The required filing put Mayo’s revenues for January through March at $2.69 billion, which is about $200 million above the revenue total through the first three months of last year. $2.26 billion of the overall revenue total came from medical services, compared to just under $2.1 billion during the same three-month period in 2015.
Mayo’s expenses climbed $180 million from a year ago to $2.57 billion, with $128 million of that increase due to higher salaries and benefits.
First quarter net income from current activities, which is considered Mayo’s bottom line, was up $20 million from last year at $109 million.
The unaudited report was filed with the online Electronic Municipal Market Access site, a service of the Municipal Securities Rulemaking Board. The report is required because of municipal bonds sold by Mayo to finance various economic development projects.