Mayo Clinic Tops 1M Patients, Ends 2010 Strong
The Mayo Clinic saw more than 1 million patients in 2010-and its revenue and income both increased over the previous year.
Rochester-based Mayo said Thursday that it saw 1,050,000 patients last year-533,000 at clinic locations and 517,000 others throughout the Mayo Clinic Health System, which includes several hospitals. By contrast, Mayo saw 528,000 patients at its clinic locations last year; system-wide figures are being reported for the first time in 2010.
Meanwhile, net operating revenue increased almost 5 percent to $7.94 million, and net operating income jumped 55 percent to $515.3 million. The net operating income figure represents a dramatic turnaround from 2008, when Mayo brought in no such income whatsoever.
“For the last two years, we have focused significantly on expense management, controlled growth in staffing, and practice redesign by eliminating waste and overutilization,” Mayo Clinic Chief Financial Officer Jeff Bolton said in a statement. “These efforts have significantly improved our operational effectiveness, and we continue to work to reduce the cost structure for delivering our services.”
Mayo also said Thursday that its board of trustees recently approved several building projects throughout its system-including a $25.8 million expansion and renovation of the emergency department at Saint Mary's Hospital in Rochester. The emergency department will grow by 10,400 square feet, which will provide space for general radiology services, trauma resuscitation rooms, and a new ambulance garage.
Additionally, the board has agreed to add 118,000 square feet in the Mary Brigh East Building at Saint Mary's Hospital and at two other Mayo Clinic Health System sites at a total cost of $33 million. The additional space will house pre-operative and post-operative patient care activities for surgical patients, provide mechanical space for surgery infrastructure support, and accommodate future growth.
The Mayo Clinic has campuses in Rochester; Jacksonville, Florida; and Scottsdale and Phoenix, Arizona. In 2010, the Mayo Clinic made Fortune magazine's “100 Best Companies to Work For” for the seventh consecutive year.