Mayo Clinic Posts Strong First Quarter Financial Report
Rochester, MN (KROC-AM News) - The Mayo Clinic is reporting its first-quarter income from current activities nearly doubled this year. A required financial filing shows that number, which is considered a key indicator of the health care giant’s financial performance, was about $198 million for the first three months of this year. That’s up $97 million when compared to Mayo’s income from activities during the first quarter of 2017.
The organization’s revenues for the three-month period climbed $194 million from the same period a year ago and exceeded $3.1 billion. Revenue from medical services was just under $2.6 billion, which was up about $150 million from the first quarter last year. Mayo’s expenses increased at a much slower rate the year. The total increased by a little under $100 million to just under $2.9 billion, while Mayo’s first quarter expenses last year where up over $240 million when compared to the January through March 2016 report.
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.
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