Memorial Sloan Kettering Cancer Center (MSK) issued the following statement regarding its fiscal year 2024 results:
MSK’s financial performance for fiscal year 2024 continued to demonstrate sound results, with an excess of operating revenue over expenses margin of 2.5% or $202.2 million. These operating results are attributed to clinical growth and expanding patient access.
Our operating cash flow margin remains 6.6%, the same as in 2023, in part due to increased expenses and rising costs for labor, pharmaceuticals, and medical supplies. Patient revenue increased by 12.7% compared to 2023. Total operating expenses rose by 10.0% to support additional patient activity.
MSK continues to execute a fiscal strategy that involves expanding patient access and diligent expense management to ensure continued financial stability.
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.