Mayo Clinic reported “another strong year” in 2025 in its annual financial reports, released last week in Rochester, Minn.

Among the highlights:

Operating revenues were $21.5 billion.
Patient admissions grew by 7%.
Outpatient digital visits increased by 17%.
And the employee headcount grew by 12,400 people.

“Guided by our primary value of putting the needs of our patients first, 2025 was another strong year for Mayo Clinic,” said Mayo Clinic CEO and President Dr. Gianrico Farrugia in a press release. “Through our Bold. Forward. strategy, we delivered new capabilities that meaningfully improved patients’ lives and positioned us to accelerate patient-centered transformation in the year ahead.”

Mayo Clinic’s audited consolidated financial report for 2025 plus a “Management Discussion and Analysis” document both were posted on the Electronic Municipal Market Access website.

Total revenue grew by 8.7% in 2025, up from $19.79 billion in 2024. Net medical service revenue, which accounts for 84% of the total revenue, climbed by 9.5% to $18.13 billion.

Total expenses also increased, going from $18.5 billion in 2024 to $20.05 billion in 2025. That’s an 8.4% jump.

Accounting for 55.6% of the total, salaries and benefits were the biggest expense at $11.16 billion, up 6.45% from 2024. Mayo Clinic reported it added more than 12,400 new employees in 2025, bringing its worldwide workforce to “nearly 85,000” people.

“The work of Mayo Clinic begins and ends with our people,” wrote Mayo Clinic’s Chief Administrative Officer Christina Zorn in a press statement. “Across every role and every campus, our staff bring extraordinary skill, compassion and teamwork to patients each day. Their commitment to one another and to those we serve is what turns our strategy into action and makes our mission possible.”

On the patient side of the equation, Mayo Clinic reported traditional outpatient visits increased 4.6% and the number of surgical cases grew by 4.2% to 161,590.

“Additionally, Mayo Clinic performed 2,065 solid-organ transplants, the most in the nation. Teams introduced 149 new surgeries and procedures and delivered more than 26 million diagnostic tests, including 100 new tests,’ according to Mayo Clinic’s press statement.

Medicare was the top payer of medical revenue, at 49.1% of the total. That is up from 48.4% in 2024 and 48.2% in 2023. The percentage paid by Medicaid, however, is on the decrease, accounting for 8.1% in 2025. That is down from 8.4% in 2024 and 8.8% in 2023.

“Contract” or traditional insurance payments covered 35.2% of the total costs, which is unchanged from 2024. Of the total medical revenue, 7.6% came from self pay, a slight drop from 8% in 2024.

The press statement also highlighted the work by Mayo Clinic Platform, which develops new digital tools using artificial intelligence and patient records. It often partners with outside companies to create these tools.

“In 2025, Mayo Clinic integrated 22 Mayo Clinic Platform-driven solutions into clinical practice, enhancing AI-enabled care and streamlining workflows. For example, the PSA Control Tower supports earlier detection of prostate cancer recurrence. Also, researchers can now analyze data from thousands of glioblastoma patients in minutes rather than years,” according to the press release.

Mayo Clinic reported about 300 technologies were licensed in 2025 plus almost 200 new agreements were signed across biopharma, diagnostics and AI markets.

Capital expenditures for 2025 totaled $1.38 billion, with $670 million for major projects, $540 million for equipment and $172 million for other projects.

Other areas of revenue growth included:

Retail pharmacy sales: $819 million in 2025, $660 million in 2024, and $530 million in 2023.
Other: $331 million in 2025, $283 million in 2024, and $262 million in 2023.
Technology commercialization: $59 million in 2025, $46 million in 2024, and $43 million in 2023.
Retail stores: $87 million in 2025, $86 million in 2024, and $80 million in 2023.

Other areas of revenue decrease included:

Royalties: $140 million in 2025, $191 million in 2024, and $120 million in 2023.
Oil and gas producing activities: $75 million in 2025, $83 million in 2024, and $75 million in 2023.
Education revenue: $60 million in 2025, $61 million in 2024, and $53 million in 2023.

Charity care

Meanwhile, Mayo Clinic spent $157 million on its heavily scrutinized charity care in 2025, continuing an upward trend since the onset of the COVID-19 pandemic.

The 2025 spending is up from $130 million in 2024 and is triple the amount Mayo Clinic spent on charity care in 2021: $49 million, its lowest figure in recent history.

In a statement to the Post Bulletin, Mayo Clinic said “the rise in charity care is in part due to Mayo Clinic’s expansion of our presumptive eligibility policy, which identifies patients who may qualify for charity care and eliminates the need for a formal application. This reflects Mayo Clinic’s unwavering commitment to provide access to care for those who need it.”

Federal law requires that nonprofit hospitals provide charity care, or financial assistance, programs to partially or wholly forgive medical debt for low-income patients. Hospitals can set their own thresholds for eligibility based on Federal Poverty Level guidelines, and, at the federal level, there is not a required minimum amount hospitals must spend.

Since November 2023, Minnesota law requires nonprofit hospitals to screen patients for their charity care eligibility before taking certain actions to reclaim those patients’ outstanding debt. A recent Post Bulletin analysis found that, after the law took effect, several Minnesota health care systems increased their charity care contributions.

Mayo Clinic’s increased spending comes after the Minnesota Attorney General’s Office, from 2022-2025, investigated the health system’s charity care practices, which continues to lag its peer institutions.

During 2023 and 2024, Mayo Clinic had written off millions of dollars of medical bills as bad debt, rather than charity care, as it transitioned to the presumptive approach.

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The Gophers women’s hockey team received the fourth overall seed in the 2026 NCAA tournament. No. 4 Minnesota will face No. 5 Northeastern after the NCAA unveiled the 11-team bracket for the 2026 National Collegiate Women’s Ice Hockey Championship on Sunday.

Minnesota will host Northeastern at Ridder Arena at 2 p.m. Saturday.

Receiving an at-large bid, Minnesota is making its 23rd overall appearance in the NCAA postseason. The Gophers will look to return to the Frozen Four for the 16th time, with their last appearance in the event in 2023.

Quinnipiac (ECAC), Penn State (AHA), Franklin Pierce (NEWHA), UConn (Hockey East), and Ohio State (WCHA) earned the five automatic bids by winning their respective conference tournaments while Minnesota Duluth, Northeastern, Minnesota, Princeton, Wisconsin, Yale and Saint Anslem earned at-large bids.

Quarterfinal competition will take place on the campuses of the four host institutions with the winners advancing to the Frozen Four on March 20 and March 22 at Pegula Ice Arena in University Park, Penn.

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DENVER – It’s almost statistically impossible for Minnesota to catch Colorado in the standings with a month to play. But between now and the night the Avalanche hang their seemingly inevitable “2026 Central Division Champions” banner at Ball Arena, the Wild are determined to make life difficult for their historic rivals.

Colorado Avalanche goaltender Scott Wedgewood, right, stops a shot by Minnesota Wild right wing Mats Zuccarello in the second period of an NHL hockey game, Sunday, March 8, 2026, in Denver. (AP Photo/David Zalubowski)

On Sunday afternoon, Nathan MacKinnon scored the decisive goal in a shootout, lifting the Avalanche to a 3-2 come-from-behind win over the Wild in their final meeting of the regular season.

Kirill Kaprizov and Nico Sturm scored in the third period for the Wild, who trailed 1-0, led 2-1, then managed to get a point.

Jesper Wallstedt was stellar in goal for Minnesota, with 33 saves in the loss. And when it was over, after splitting the season series, the Wild said they would be happy to see Colorado again in May.

“I thought all the games were competitive and the season series was split, so tonight was no different,” Wild coach John Hynes said. “It was two teams going at it pretty hard, and it’s fun to be a part of games like that.”

Minnesota’s penalty killers had a busy night, keeping the high-powered Avalanche offense off the board during a collective 10 minutes with a Wild player in the box.

“I really feel like I got right into the game with a power play right away, the altitude,” Wallstedt said. “It felt like I got going right away, in a good way.”

MacKinnon was called for interference with 63 seconds left in overtime, giving the Wild a 4-on-3 advantage. Had this been international hockey, MacKinnon’s penalty would have made him ineligible to participate in the shootout. But he was able to take part under NHL rules.

The first period was all about the goalies, specifically Wallstedt, who had 14 saves and kept the Avalanche from grabbing the momentum despite a pair of Wild penalties that had Colorado’s power play clicking. Minnesota lost third liner Danila Yurov for a few shifts when he took a puck to the head and left the bench, but he returned to finish the period.

After killing another penalty early in the middle frame, the Wild power play finally got a chance when defenseman Zach Bogosian took a high stick to the face. Minnesota managed just one shot on the man-advantage – a dangerous Vladimir Tarasenko backhander that Colorado goalie Scott Wedgewood turned aside.

The Avalanche finally broke the scoreless deadlock late in the second when Minnesota turned over the puck behind its own net and Nazem Kadri – acquired at the trade deadline from Calgary – fed a pass to MacKinnon. The quick shot that fooled Wallstedt was MacKinnon’s NHL-leading 43rd of the season.

The goal seemed to wake up the visitors, who made a late second period push, which included Matt Boldy’s shot from the high slot that beat Wedgewood but clanked the left goalpost.

For the period, Minnesota outshot Colorado 14-12, but MacKinnon’s shot was the only one that mattered.

The Wild, who have not been shut out this season, evened the score early in the third on their second power play of the game. Kaprizov’s low shot beat Wedgewood on the stick side with Joel Eriksson Ek creating traffic at the front of the net.

With Colorado on its fourth power play a short time later, Brock Faber’s hard shot from behind his own net caused a Colorado turnover in the neutral zone, springing Sturm on a shorthanded breakaway and giving the visitors the lead.

“It was a really good effort, and it’s two great hockey teams playing against each other,” said Sturm, who had not scored since a Jan. 2 game at Anaheim. “Tonight we got the short end, but I think it was a commendable effort.”

After Colorado tied the game again, the Wild had a late third period power play, but Wedgewood kept it knotted this time. He finished with 32 saves for the Avalanche, and allowed only a Boldy goal in the shootout.

It was the Wild debut for Nick Foligno, acquired at the trade deadline from Chicago, and currently the only Foligno playing for the Wild, while his younger brother Marcus recovers from a lower body injury that has him out week to week.

Nick started on the fourth line wing, with Sturm on the other wing and Michael McCarron at center. Newcomers Robby Fabbri and Jeff Petry were healthy scratches.

The Wild next return to St. Paul and will play six of their next seven at Grand Casino Arena, starting Tuesday night versus the Utah Mammoth.

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TORONTO — Kelly Pannek scored an overtime winner to lead the Minnesota Frost over the Toronto Sceptres 3-2 on Sunday in the PWHL.

The Frost, who played without captain Kendall Coyne Schofield, picked up their first win in their second game following the Olympic break. Minnesota was coming off a shutout loss to the Montreal Victoire.

Toronto extended its point streak to four games despite the loss.

Forward Taylor Heise was in on all three goals for Minnesota. Her power-play slap pass set up Pannek for the winning goal, seconds after Toronto’s Renata Fast was sent off for slashing.

Heise tied the game in the third period on another power play, beating Sceptres goalie Raygan Kirk with a slap shot. She fed Denisa Krisova on a breakaway for the Frost’s first goal in the first period.

Daryl Watts had a goal and assist for Toronto. Emma Woods had the other goal for the Sceptres.

Frost goalie Maddie Rooney made 22 saves for the win.

Toronto entered the game in sixth place but lost crucial points by failing to hold onto its third-period lead as the standings tighten ahead of the Walter Cup playoffs.

Up next
The Frost will host the Seattle Torrent on Wednesday.

The Sceptres will play the Torrent on March 15.

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