21
Feb
Tough Year for Cleveland Clinic Finances in 2016
Crain’s Cleveland Business is reporting that Cleveland Clinic Health System showed a nearly 50 percent drop in operating income in 2016. In 2016, the Clinic posted $243 million in operating income (a 49.5 percent decrease from 2015) on eight billion dollars in operating revenue. Overall system revenues were up about 11 percent from 2015. Without recent cost savings of more than $634 million, 2016’s operating income would have been just $122 million.