Mayo clinic
Transcript: Mayo clinic Expenses New EHR system -Modernization Project -1.5 billion in investment (over 5-year period) Salaries & Benefits 1,946 million Supplies & Services 793 million Facilities 202 million Finance & Investment 30 million Mission: To inspire hope and contribute to health and well being by providing the best care to every patient through integrated clinical practice, education, and research Primary Value: The needs of the patient come first Respect, Integrity, Compassion, Healing, Teamwork, Innovation, Excellence, Stewardship. Physicians: Set salary References Jaime Kimme Maribel Samantha Clinical Practice Prevents and treats disease and illness among patients Education Trains doctors in residency and fellowship programs, representing virtually all medical specialties Research Actively participates in the development of new practices and procedures Active human research studies: 12,000 Research publications and review articles in peer-reviewed journals: 7,234 Medical Services (in millions) Where Are They Going? Fit within the Health Care Industry Mission and Values Catholic Influence Founded by "This sisters of Saint Francis" Notable Quote "How does a Sisters' hospital differ from other hospitals? The chief differences are due to the fact that a Sisters' hospital is their home...that affects hospital construction, organization and administration" (CWS, 2019) Sister Domitilla DuRocher Administrator from 1939-1949. Focus: Treating people with serious, complex illnesses Locations in 5 states: Minnesota, Arizona, Florida, Iowa, and Wisconsin 1 million patients per year from 140 countries Insurance: Accepts 50% of US insurances Financial assistance and discounted rates for under/uninsured Operating income -Medical Services: transplants, surgery, and hospital admissions. -For 2018 fiscal year, totaled $706 million on $12.6 billion in revenue. Less than 2017 revenue of $707 million on $12 billion. Project Funding: Public and Private Research Funding: Government, foundations, and industry groups. Today Continue to grow by opening more hospitals and expanding existing campuses Mayo Clinic School of Medicine grand opening July 2017 Continue to provide the most comprehensive patient care Mayo Clinic ranked No. 1 hospital in the nation by US News and World Report Top of the line Research and Development Mayo Clinic Rochester Location Offering new MRI Scanner (Tesla MRI scanner) First in North America of its kind. Ultra high magnetic field allows sub-millimeter resolution imaging to give best patient diagnosis. Mayo Clinic Hospital- Arizona offering cyclontron facility, One of the drugs (Choline C-11, provides the earliest FDA approved imaging detection of prostate cancer. ("Mayo Clinic is strong, well-positioned for future; leadership transition begins", 2019) Revenue 1864 Dr. William Worrall Mayo opens private practice in Rochester, MN. Sons William and Charlie later join. 1889 St. Mary's Hospital opens with collaboration between Mayo and Sisters of Saint Frances 1914 Mayo Clinic Opens -Integrated Care Model -Specialists -Research, Diagnose and Treat Political and Religious Influences Becker’s Hospital Review. (2014, April 10). 12 Things to Know About Mayo Clinic: Here are 12 key things to know about Rochester, Minn.-based Mayo Clinic, which was recently named one of 100 Great Hospitals in America in 2014. Retrieved from Beckershospitalreview.com website: https://www.beckershospitalreview.com/lists/12-things-to-know-about-mayo-clinic.html Mayo Clinic Facts. (2017, December). Retrieved April 21, 2019, from https://www.mayoclinic.org/about-mayo-clinic/facts-statistics CWS, I. (2019). The Sisters of Saint Francis Quotes | Mayo Clinic History & Heritage. Retrieved from http://history.mayoclinic.org/toolkit/quotations/the-sisters-of-saint-francis.php Mayo Clinic is strong, well-positioned for future; leadership transition begins. (2019). Retrieved from https://newsnetwork.mayoclinic.org/discussion/mayo-clinic-is-strong-well-positioned-for-future-leadership-transition-begins/ Mayo Clinic (2018). Unaudited Condensed Consolidated Financial Statements 2018 [PDF File]. Retrieved from https://emma.msrb.org/ER1144708-ER895670-.pdf Structure