Memorial Sloan Kettering Cancer Center (MSK) issued the following statement regarding its fiscal year 2023 results:
“MSK’s financial performance for fiscal year 2023 demonstrated a sustained financial recovery with an operating income of $134.3 million. The steady improvement in operating results is attributed to our ongoing financial recovery plans, expense management, and clinical growth driven by our commitment to expanding access to MSK.”
We achieved an operating cash flow margin of 6.6% due to strong patient activity and expense management. Patient revenues increased by 12.8% compared to 2022, while total operating expenses rose just 5.0% in support of additional patient activity.
MSK continues to execute a fiscal strategy that anticipates the judicious use of reserves as margins improve over time. We remain optimistic that ongoing initiatives to expand patient access and manage expenses will lead to continued improvement in operating results in 2024 and beyond.”
For more information, please see instructions to access our financial disclosure report available at https://www.dacbond.com/ or https://www.mskcc.org/public-notices/financial-information.