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Mayo Clinic responds to COVID-19 financial impact
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Mayo Clinic staff are doing extraordinary work, leading in the response to the COVID-19 pandemic. We are proud of, and committed to, our staff and our communities as they come together to fight this global health crisis. Mayo Clinic is facing unprecedented challenges as a result of these circumstances, including a financial impact that requires significant adjustments to our operations. The decision to proactively postpone elective patient care was the right one, but it eliminated most of our revenue at the same time we are making critical investments to develop and expand testing, conduct research to help stop the pandemic, and realign our facilities and care teams to treat COVID-19 patients.
Mayo Clinic is taking necessary steps to reduce expenses, but additional measures are needed to ensure that we can emerge from this situation in a stable position. While we were able to protect full pay and benefits for our staff through April 28, temporary furloughs of some staff and salary reductions will be required after that time. We will work with our teams over the coming weeks to ensure that our staff are supported, that the duration of this disruption is as limited as possible, and that we are ready to ramp up quickly and resume full operations when it is safe to do so.
Media contact: Ginger Plumbo, Mayo Clinic Public Affairs, newsbureau@mayo.edu
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