Mayo Clinic

What it reported doing in 2024

Patient care (see schedule o for description)patient care: mayo clinic is an integrated, not-for-profit medical group practice. Its standard of care brings together teams of experts to provide high-quality, affordable and compassionate care to each patient consistent with mayo clinic's primary value - the needs of the patient come first. Mayo clinic's mission is 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. Mayo clinic's heritage of collaborative medical expertise is combined with careful attention to individual patient needs, resulting in a thorough and personal approach to health care.patient care advanced through education and research is the foundation of mayo clinic's mission. To accomplish its mission, mayo clinic not only provides a variety of programs in direct patient care, medical education and research, but also serves as the parent organization of a multi-entity organization. These organizations consist of hospitals, clinics, health care providers and other entities providing health care-related services and knowledge delivery to the public throughout the world. In rochester, mayo clinic works collaboratively with mayo clinic hospital - rochester, an affiliated entity comprised of saint marys campus and methodist campus to form an integrated medical center dedicated to providing comprehensive diagnoses and treatment in virtually every medical and surgical specialty.mayo clinic is also the sole member of mayo clinic Arizona and mayo clinic jacksonville which provide services to patients in the southwest and southeast regions of the united states. In the midwest, mayo clinic health system serves communities in Minnesota, Wisconsin, and Iowa through a network of community-based physicians to provide quality health care close to home. This network is also supported by the highly specialized expertise and resources of mayo clinic.utilizing common governance, shared systems and standardized policies and procedures whenever possible, mayo clinic strives to provide consistent, high quality health care services and knowledge delivery within every aspect of care. A 31-member board of trustees comprised of a majority of public members along with mayo physicians and administrators ensure the entire organization remains true to its mission and culture of providing for the health care needs of the public rather than for private benefit. Mayo clinic has reinforced its leadership in patient care, research and education to drive forward the transformation of health care over the next decade. With digital innovations and new technologies, mayo clinic is moving quickly to extend its compassionate care, expertise and research, and is reinvesting in people and facilities in the communities it serves. Mayo clinic has accelerated its investment in the digital transformation of health care, as part of its 2030 strategy to transform patient and clinician experiences and solve humanity's most complex medical challenges. Mayo clinic remains top-ranked in quality more than any other health care organization by independent groups, such as the nursing magnet recognition program, press ganey patient experience awards, the centers for medicare & medicaid services overall hospital quality star ratings, leapfrog hospital safety survey and the american college of surgeons national surgical quality improvement program. For the 2024-2025 period, mayo clinic had its hospital (mayo clinic hospital-rochester) named to the best hospitals honor roll by u.s. News & world report, along with being ranked in the top 50 hospitals in 13 medical specialties and earned the highest high-performing rating for all 20 of the evaluated procedures and conditions.mayo clinic offers both specialty and primary care in its community practices and maintains a population health office. It is the charge of mayo's population health committee to transform the way c

Financial Efficiency

• Mission deployment rate: 83%; rating input score 83
• Program expense ratio: 93.6%; rating input score 94
• Fundraising efficiency: $50.01 raised per $1 spent on fundraising; rating input score 75; 75th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: 1 of 8 controls in place; rating input score 12
  • Claims monitoring procedures: Pass
  • Requires narrative reports: Fail
  • Conducts field audits: Fail
  • May suspend future funding: Fail
  • Requires financial reports: Fail
  • Conducts site visits: Fail
  • Requires grant agreements: Fail
  • May require repayment: Fail
• Grant itemization coverage: 99.9%; rating input score 100; 46th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 56.2%; rating input score 56; 15th percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 20.4%; rating input score 87; 87th percentile among comparable filings
• Total-asset coverage ratio: 4.23; rating input score 83; 83rd percentile among comparable filings
• Liabilities to assets ratio: 0.38; rating input score 47; 47th percentile among comparable filings
• Officer compensation ratio: 0.6%; rating input score 82; 82nd percentile among comparable filings

Growth

• Program expense growth: 5% per year; rating input score 100; 41st percentile among comparable filings
• Revenue growth: 6.1% per year; rating input score 100; 53rd percentile among comparable filings
• Asset growth: 9.7% per year; rating input score 100; 68th percentile among comparable filings