ROCHESTER, Minn. – Bean-counters at Mayo Clinic are struggling to make sense of the shape of the health-care giant’s recent finances. There is, as they say, good news and bad news – but mostly gloomy — in the latest quarterly report.
> Because of the sour stock market, income from investments on which Mayo relies for credit-worthiness to borrow money for its fast-paced expansion fell $1.7 billion, compared to a gain of $1.1 billion gain a year earlier.
> Net income from operations was down $92 million to $184 million.
> Revenue grew $171 million to $4.14 billion.
> Expenses climbed by $236 million to $3.9 billion, mostly for salaries and benefits
> Costs supplies and services rose $164 million.