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Mayo Clinic makes $727M profits in 2020 despite pandemic

Mayo Clinic makes $727M profits in 2020 despite pandemic The clinic cited philanthropic gifts, investments and alternative revenue sources. Author: Despite furloughs and pay cuts in the early months of the pandemic, Mayo Clinic finished the year with $727 million in profits in 2020. Rochester-based Mayo Clinic’s 2020 financial report also showed $13.9 billion in total revenue, which is 1.5% higher than in 2019. The clinic cited investments, philanthropic gifts and alternative revenue sources for this growth despite the pandemic. While the net profit was down on the $952 million made in 2019, it nonetheless marks a remarkable turnaround given it was projecting a $3 billion loss early in the pandemic, when elective surgeries were shut down in an effort to contain the virus s spread.

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Mayo Clinic revenue was up for 2020 with help of $182 million in CARES funds

Mayo Clinic revenue was up for 2020 with help of $182 million in CARES funds Mayo Clinic released its 2020 financial report today, which showed total revenue of $13.9 billion was up 1.5 percent from 2019. The net operating income was $727 million, down from the record $1 billion reported in 2019. Net medical service revenue declined to $11.5 billion from $11.6 billion in 2019, but revenue from Mayo Clinic Laboratories and Mayo Clinic Ventures more than made up the difference. 1:15 pm, Feb. 28, 2021 × Mayo Clinic publicly reported its “Unaudited Condensed Consolidated Financial Reports” for the second quarter and the first six months of 2020 filed with the Municipal Securities Rulemaking Board. Despite the coronavirus pandemic, Mayo Clinic increased total revenue in 2020 to $13.9 billion, up by $200 million from 2019, with the help of $182 million in CARES Act funds.

Dennis dahlenMayo clinic labChief financial officer dennis dahlenMayo clinicMayo clinic laboratoriesMayo clinic venturesClinic labடென்னிஸ் டஹ்லன்மயோ சிகிச்சையகம் ஆய்வகம்தலைமை நிதி அதிகாரி டென்னிஸ் டஹ்லன்மயோ சிகிச்சையகம்மயோ சிகிச்சையகம் ஆய்வகங்கள்மயோ சிகிச்சையகம் முயற்சிகள்சிகிச்சையகம் ஆய்வகம்

Mayo Clinic revenue was up for 2020 with help of $182 million in CARES funds

Mayo Clinic revenue was up for 2020 with help of $182 million in CARES funds
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Dennis dahlenMayo clinic labChief financial officer dennis dahlenMayo clinicMayo clinic laboratoriesMayo clinic venturesClinic labடென்னிஸ் டஹ்லன்மயோ சிகிச்சையகம் ஆய்வகம்தலைமை நிதி அதிகாரி டென்னிஸ் டஹ்லன்மயோ சிகிச்சையகம்மயோ சிகிச்சையகம் ஆய்வகங்கள்மயோ சிகிச்சையகம் முயற்சிகள்சிகிச்சையகம் ஆய்வகம்

Mayo Clinic revenue was up for 2020 with help of $182 million in CARES funds

Mayo Clinic revenue was up for 2020 with help of $182 million in CARES funds
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Mayo Clinic revenue was up for 2020 with help of $182 million in CARES funds

Mayo Clinic revenue was up for 2020 with help of $182 million in CARES funds
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