Rising labor costs dampened earnings across Mayo Clinic's health system in 2022 as Minnesota's largest employer confronted staffing problems being felt across the industry.
The Rochester-based nonprofit reported Monday an operating income of $595 million last year — a 50% drop from 2021 when it reported a record $1.2 billion in operating income.
Contract labor costs for supplementary staff, like traveling nurses, rose significantly while the health system also saw inflation in nonlabor costs.
