Mayo Clinic pauses all construction to combat $3B deficit — 4 insights

Rochester, Minn.-based Mayo Clinic has a $3 billion systemwide deficit that is forcing a series of operational changes, the Jacksonville Business Journal reports.

Advertisement

What you should know:

1. The health system is guaranteeing full pay and benefits for its employees through April 28, but will then furlough a portion of the staff and reduce salaries across the system.

2. Mayo had to stop elective surgeries due to the COVID-19 pandemic, which has affected revenues.

3. As a result of the decreased revenue, the health system is stopping all new construction, unless it would affect patient safety.

4. Mayo received approval to construct a $65 million facility in Jacksonville, Fla., earlier in April. The development would’ve added cardiology and gastroenterology services to the campus.

More articles on surgery centers:
5 ways ASCs could be affected long after the pandemic
Outcomes for 147 spinal disc replacements in an ASC: 5 key notes
Texas cardiovascular company developing triangular ASC — 3 details

At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.

Register to Attend Webinar

Unlocking Structural Heart Capacity: How Leading Programs Use EMR and Data to Improve Patient Flow and Throughput

Wednesday, August 19
11:00 AM - 12:00 PM CDT

Presenters: Katie Kennedy, MSN, APRN, NP-C, Community Heart and VascularMisty Theriot, BSN, RN, CPHQ, FACC, Lake Charles Memorial Health SystemKatie Worthington, DNP, RN, Atlantic Health SystemTaryn Shipley, MBA, CSSBB, Lean HealthTech

Advertisement

Next Up in GI & Endoscopy

Advertisement

Comments are closed.