April 10
Mayo Clinic is not just faced with an enormous health crisis. Now, there is an economic crisis, too very likely the biggest such challenge Mayo has faced since the Great Depression.
Income has plummeted as Mayo has turned its attention from regular business to the worldwide COVID-19 pandemic. Today, the clinic is rolling out a plan of spending reductions, including payroll cuts, that will directly affect about one-third of Mayo s70,000 employees across all of its sites, including Mayo Clinic Health System sites and the campuses in Rochester, Florida and Arizona.
The plan is designed to bring down a $3 billion loss that financial projections show would occur by year-end without any adjustments, and to do it without lowering the quality of care, research and education Mayo provides. No layoffs are planned.
in 2009, and this morning i want to get beyond some of these political arguments over obamacare in washington, and that s why i ve asked two top leaders in the medical field by the hospitals mentioned by the president to give their oversights on the future of obamacare. joining me from the mayo clinic is dr. john noseworthy and from the cleveland clinic, dr. delos cosgrove. dr. cosgrove, let me start with you. what is the impact of obamacare in 2014? this started out to be three things. it started out to increase access. i think when it s fully developed, we will see increased access. it started out to improve quality of care, which is very available across the country, and i think with the transparency that it brings around quality, we ll see quality going up across the country. the real question is cost. and we really don t have the answer to that yet. we re going to have to see how this plays out over time. i see it the same way. i think what it basically has
maintaining some of the highest quality. that was president obama back in 2009, and this morning i want to get beyond some of these political arguments over obamacare in washington, and that s why i ve asked two top leaders in the medical field by the hospitals mentioned by the president to give their oversights on the future of obamacare. joining me from the mayo clinic is dr. john noseworthy and from the cleveland clinic, dr. delos cosgrove. dr. cosgrove, let me start with you. what is the impact of obamacare in 2014? this started out to be three things. it started out to increase access. i think when it s fully developed, we will see increased access. it started out to improve quality of care, which is very available across the country, and i think with the transparency that it brings around quality, we ll see quality going up across the country. the real question is cost. and we really don t have the answer to that yet. we re going to have to see how this plays out over time.
joining me from the mayo clinic is dr. john noseworthy and from the cleveland clinic, dr. toby cosgrove. dr. cosgrove, let me start with you. what is the impact of obamacare in 2014? this started out to do three things. it started out to increase access. i think when it s fully developed, we will see increased access. it started out to improve quality of care, which is very variable across the country, and i think with the transparency that it brings around quality, we ll see quality going up across the country. the real question is cost. and we really don t have the answer to that yet. we re going to have to see how this plays out over time. i see it the same way. i think what it basically has done is expand insurance coverage, and what we need to do now is modernize the health care system to deliver care at lower cost. and sustainability of medical care in the long term is
with infection. because of the affordable care that forced you to make re forms? we have been making the reforms forever but this amped it up. how about the down side? create one scenario where, okay, we don t love it. consumers need to make sure the premiums, that doesn t cover everything. the premiums what were you able to do that i walk in, get a three-day mayo complete workovers. what can t you give me now for the same thing? there may be more out of pocket expense for you. you always would and will get what you need. if this doesn t cover care you may have to cover it uh out of pocket if you re not covered. thank you so much. you can join the conversation online with dr. john noseworthy. tweet your questions for him now using # mojoe.