Mayo Clinic posts $1.2B in profit for 2021 despite rise in labor expenses

Mayo Clinic posts $1.2B in profit for 2021 despite rise in labor expenses

Mayo Clinic posted a $1.2 billion profit last year, a 66% increase from its 2020 earnings thanks to a major recovery in patient volumes. Mayo’s $1.2 billion in net operating income is a 66% increase compared to the $728 million it generated in 2020. “The increase over 2020 was primarily due to the recovery from 2020’s COVID-19 impaired volume, but also due to higher expenses in 2021 related to the combination of pandemic-related spending, such as vaccine clinics and testing center; an incremental $97 million for employee recognition; and acceleration of facilities and select project expenses into the fourth quarter,” Mayo said in its earnings report.




Next Article

Did you find this useful?

Medigy Innovation Network

Connecting innovation decision makers to authoritative information, institutions, people and insights.

Medigy Logo

The latest News, Insights & Events

Medigy accurately delivers healthcare and technology information, news and insight from around the world.

The best products, services & solutions

Medigy surfaces the world's best crowdsourced health tech offerings with social interactions and peer reviews.


© 2024 Netspective Foundation, Inc. All Rights Reserved.

Built on Nov 21, 2024 at 12:56pm