Cleveland Clinic ended 2016 with a steeper decline in operating income than even CEO Dr. Toby Cosgrove had projected. The 14-hospital system posted a 71% drop in 2016 to $139.4 million from the $480.2 million reported in 2015.
Rather than the nearly 50% drop in operating income the Cleveland Clinic stomached in 2016, president and CEO Dr. Toby Cosgrove instead focused on quality metrics, education, research and innovation during his annual State of the Clinic address on Wednesday morning, Feb. 15.
The Cleveland Clinic's Center for Functional Medicine has seen explosive growth in the two years since it opened. Despite little advertising, it was full on its first day in September 2014 and only went up from there, quickly outgrowing the six exam rooms dedicated to it.
Cleveland Clinic and IBM are entering a five-year agreement to expand the Clinic's health information technology capabilities.
Cosgrove was among prospective cabinet picks who met with President-elect Donald Trump on Tuesday and is reportedly a contender to lead the Veterans Affairs Department.
Dr. Toby Cosgrove, CEO of the Cleveland Clinic, has been named by President-elect Donald Trump to the new President's Strategic and Policy Forum.
Modern Healthcare Managing Editor Gregg Blesch recently spoke with Harrison about managing population health, running a hospital in Abu Dhabi and building personal connections in a large health system.
A team of more than 100 doctors and researchers assembled by the Cleveland Clinic examined nearly 200 nominations to identify and rank the top 10 innovations.
Noted universities and internal hospital programs now have programs to develop physician leaders. This push is spurred by healthcare transformations, including the need to improve quality of care, access to care and unsustainable costs.
Expectations that the ACA-driven reduction in charitable care would force the nation's largest not-for-profit healthcare systems to step up their investment in community-based prevention programs have yet to be fulfilled.
The Cleveland Clinic will expand its services into Europe with its proposed plans for a hospital located in central London.
The Cleveland Clinic's massive medical center in Abu Dhabi, a joint venture with the government of the United Arab Emirates, comprises 101 acres of floor space, roughly two-thirds the size of the Pentagon. But the project's magnitude is one of its strengths.