Mayo Clinic Reports 36 Percent Rise in Income From Operations for 2014

MINNEAPOLIS (Minneapolis Star Tribune/TNS) -

Income from operations jumped 36 percent last year at the Mayo Clinic, as the hospital and clinic system posted its strongest earnings in the past five years.

Income from operations of $834.3 million came on revenue of about $9.76 billion during 2014.

The previous year, Mayo Clinic saw income from operations of $612.1 million on $9.42 billion in revenue.

Mayo is a nonprofit group. The financial performance will allow the health system to invest $1.5 billion over several years for a new electronic-health-record system, clinic officials said in a statement.

Mayo also contributed $410 million toward its employee pension plan in 2014.

Mayo’s hospital and clinic operations extend across southern Minnesota into Wisconsin and Iowa. The clinic also has hospitals in Arizona, Florida and Georgia.

Last year, Mayo Clinic employed 59,497 people and treated about 1.3 million patients.