The Cleveland Clinic saw its operating income spike 47% to $390 million, according to numbers released Wednesday during the annual State of the Clinic address.
The system’s revenue rose 18% last year to just shy of $11 billion.
That marks a significant change from 2018 when the Clinic’s operating income fell 19% and revenue rose in single digits.
CEO and President Dr. Tom Mihaljevic attributed the growth to the record 2.4 million patients, a 20% increase, the Clinic served last year, as well as to what he referred to as income from nonrecurring sources. In 2019, the Clinic received a record-setting $261 million gift from the Lord Foundation of Ohio.
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