Operating Income at the Cleveland Clinic Climbs by a Third

Feb 28, 2018

The Cleveland Clinic's new CEO, Dr. Tom Mihaljevic,  delivered his first State of the Clinic address Wednesday. Mihaljevic announced a 35 percent increase in the hospital’s operating income in 2017, and discussed his plans for his first year as CEO. 

Mihaljevic discussed new initiatives including continuing the hospital’s financial rebound, improving patient safety, and lessening caregiver stress and burnout.

He emphasized technology and telemedicine, with virtual visits through the Express Care online app rising 163 percent in 2017.

"Most of our plans for the future will depend on digital platforms. Digital technology will allow us to deliver smarter, more affordable, and more accessible care. Today, we can provide care for a variety of conditions anywhere on earth. That means that a patient’s bedside is changing, and the walls of hospitals are coming down in this new and virtual world."

Mihaljevic cited the Clinic’s commitment to “responsible growth” as it rolls out a new hospital in London in 2020, a Health Education Campus in Cleveland next year, and a 75-bed hospital in Florida, scheduled to open this August.