Memorial Sloan Kettering Cancer Center (MSK) issued the following statement regarding its first quarter of 2026 results:
MSK reported an excess of operating revenues over expenses totaling $107.0 million and an operating cash flow margin of 9.0% for the first quarter of 2026. These results reflect continued improvement in operating performance and higher patient activity levels, supported by ongoing efficiencies in patient access and through the Epic electronic health record (EHR) system.
Operating revenues increased 11.6%, driven primarily by higher patient revenues and nonrecurring revenue items, including COVID Relief funding and payor settlement payments. Operating expenses increased 2.8%. However, MSK’s operating expenses in 2025 include $85 million in one-time investments to implement Epic. Operating expenses in 2026 have increased 7.2% when excluding the one-time Epic implementation costs. The overall increase in operating expenses was driven by higher personnel costs and pharmaceutical expenses, consistent with increased patient activity levels and an industrywide increase in drug prices.
MSK remains focused on advancing a long-term financial strategy centered on expanding patient access, strengthening operational discipline, and supporting the Institution’s mission-driven growth.
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.
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