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Mayo Clinic reports revenue growth throughout the pandemic

Mayo Clinic's revenue for the third quarter of 2021 was $4.01 billion, 18.2 percent higher than $3.39 billion the same pre-pandemic quarter in 2019. Revenue in the third quarter of 2020 was $3.53 billion, reported Mayo Clinic at the annual JP Morgan Health Care Conference last week.

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ROCHESTER — Despite two down quarters in 2020, Mayo Clinic’s revenue has grown throughout the pandemic with a revenue of $4.01 billion in the third quarter of 2021.

That was 18.2 percent higher than $3.39 billion the same pre-pandemic quarter in 2019, reported Mayo Clinic at the annual JP Morgan Health Care Conference last week.

Revenue in the third quarter of 2020 was $3.53 billion.

The slide showing Mayo Clinic’s financial results for 2019 through the third quarter of 2021 was labeled as “Resilience Through Uncertain Times.”

Mayo COVID 19 slide.jpg
Mayo Clinic presented this slide during a report at the annual JP Morgan Healthcare Conference on Jan. 10 to Jan. 13.
Mayo Clinic

While the revenue stream was mostly steady, Mayo Clinic’s net operating income fluctuated significantly during that time period, with a low of just $29 million in the first quarter of 2020 to a high of $452 million in second quarter of 2021.

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The report also noted that Mayo Clinic has conducted 390 studies or clinical trials related to COVID-19 during the pandemic and had published more than 2,000 scientific articles on the topic.

Mayo Clinic posted its presentation slides from the Jan. 10-13 virtual conference to the Municipal Securities Rulemaking Board’s Electronic Municipal Market Access site.

Jeff Kiger tracks business action in Rochester and southeastern Minnesota every day in "Heard on the Street." Send tips to jkiger@postbulletin.com or via Twitter to @whereskiger . You can call him at 507-285-7798.

Jeff Kiger writes a daily column, "Heard on the Street," in addition to writing articles about local businesses, Mayo Clinic, IBM, Hormel Foods, Crenlo and others. He has worked in Rochester for the Post Bulletin since 1999. Readers can reach Jeff at 507-285-7798 or jkiger@postbulletin.com.
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