The Mayo Clinic in Rochester, MN is one with a mission. A mission to better the lives of people globally through provision of the best healthcare available to every patient that walks through their doors. They are able to achieve this via the integration of research, education and practice. By 2016 Mayo clinic had opened up branches in over 50 states in the United States alone, 137 countries globally and had given their services to over 13 million people. It has a strong financial base that it uses to invest in state of the art infrastructure and to give pension to its staff. In the 2014 Becker’s Hospital Review, the Rochester based Mayo clinic was named among the top 100 hospitals globally. The following are some interesting facts about the hospital:
- Mayo Clinic is a non-profit brand that is a leader in its league with heavy investments into medical research and care. Mayo was started up in 1864 by William Morall Mayo. The first ever clinic to be built was established in Rochester, MN. So the clinic in Rochester MN was the first ever Mayo clinic to be set up by the founder.
- The operating income of Mayo clinic rose by a whopping 55% in the fiscal year 2013. The figures were $395.4 million in 2012 to $612.1 in 2013. This tremendous income generation saw an intake of a total revenue of $9.42 billion in 2014. The main driving force behind this increase in income was Federal health IT incentives. This is the Federal’s Governments efforts at increasing the level of technology infrastructure in the hospitals. The hospital received a Medicaid and Medicare donation amounting to $54.7 in the year 2014 to continue with the use of electronic storage of health records.
- The Mayo Clinic brand seems to be based on two main models. The first model includes the secondary Mayo Clinics that are based outside the Rochester clinic. These include the campuses in Arizona and Florida. The second mode of the Mayo brand is through affiliations. This occurs in a situation where Mayo is paid a fee by the affiliated hospitals and in turn the affiliated hospitals gain access to the resources of the larger organization under its brand name. The debate is still ongoing on whether the affiliated hospitals can render the type of quality that the main hospital can render.
- The Mayo Clinic has been working tirelessly to improve the quality of healthcare in all the regions that it is in operation. This means that it aims to affiliate with as many hospitals globally as possible so that all of them can render services to patients that are as good as the type rendered by the main clinic. This is why Mayo Clinic has networks in 50 states in the U.S alone and works in other countries as Mexico and Puerto Rico.
- The Minnesota-based Mayo clinic was ranked first in the state and number 3 in the whole country. The president of the organization, John Noseworthy, MD, launched a 20 year, $5 billion operation that he says will make the state of Minnesota a global medical hub.
The project to secure Minnesota as a global medical destination is dependent on the town of Rochester doubling in size. Tricky odds to place your bet on. However, the world is watching. The above are the interesting facts about the Mayo Clinic in Rochester, MN. Want to learn more about this city? Click here.