Mayo Clinic Achieves Remarkable Progress in 2023 Towards Transforming Healthcare

Mayo Clinic Achieves Remarkable Progress in Transforming Healthcare in 2023

ROCHESTER, Minn. — Mayo Clinic has made significant strides in transforming healthcare for people worldwide in 2023. With strong performance across all activities, Mayo Clinic has made critical investments in staff, facilities, and digital technologies to improve healthcare outcomes.

Key highlights of Mayo Clinic’s performance in 2023 include industry-leading rankings from Newsweek and U.S. News & World Report, a record high of over 2,500 active clinical trials, and more than 950,000 outpatient virtual appointments. Mayo Clinic Platform, which aims to provide earlier and more accurate diagnosis, personalized care, and enhanced access to quality care, reached over 45 million people.

Financially, Mayo Clinic reported revenue of $17.9 billion against expenses of $16.8 billion, resulting in a net operating income of $1.1 billion and a 6% operating margin. The organization also made significant capital expenditures of $1.18 billion, with a focus on major projects.

In terms of philanthropic funding, Mayo Clinic received over $1 billion in philanthropic support for the fifth consecutive year, including $608 million in outright support and future commitments.

Mayo Clinic President and CEO, Gianrico Farrugia, M.D., expressed pride in the organization’s progress, stating, “By every measure, Mayo Clinic made excellent progress in 2023 towards our goal of creating a better healthcare system for the United States and globally.”

In 2023, Mayo Clinic continued to invest in Mayo Clinic Platform, a healthcare data platform that connects solution developers to accelerate healthcare innovation. The organization also announced its largest capital investment in history, Bold. Forward. Unbound., in Rochester, to create innovative spaces incorporating digital technologies and novel care concepts.

Mayo Clinic also expanded its physical presence with projects such as Arizona Bold. Forward., Mayo Clinic hospital expansion in Florida, and new hospital bed towers in Wisconsin and Minnesota. The organization also opened the Anna-Maria and Stephen Kellen Building in Rochester, providing new research space.

Investing in staff, Mayo Clinic allocated $10.5 billion in staff salaries and benefits in 2023. The organization also enhanced benefits, educational opportunities, and community programs for its staff to support their financial health and well-being.

Christina Zorn, chief administrative officer at Mayo Clinic, emphasized the importance of staff in delivering excellent care and driving innovation. She stated, “Together, we’re beginning 2024 in a position of strength and with a spirit of purpose of putting the needs of our patients first.”

Mayo Clinic is a nonprofit organization committed to innovation in clinical practice, education, and research, providing compassion, expertise, and answers to those in need of healing. Visit Mayo Clinic News Network for additional Mayo Clinic news.