Memorial Sloan Kettering Cancer Center (MSK) issued the following statement today regarding financial results for the nine months ended September 30, 2023:
MSK’s financial performance for the nine months ended September 30, 2023, demonstrated continued and steady improvement in operating results which we attribute to our ongoing financial recovery plans, clinical growth, and expense management.
We achieved an adjusted operating cash flow margin of 4.4% due to strong patient activity and expense management. Patient revenues increased 15.1% compared to the first nine months of 2022 while total operating expenses rose just 7.0% in support of additional patient activity.
MSK is executing a financial recovery plan that anticipates the judicious use of reserves as margins improve over time. As a result of patient access initiatives and cost control measures, our operating cash flow for the year to date has been better than forecasted. We are optimistic that ongoing initiatives to expand patient access and manage expenses will lead to continued improvement in operating results going forward.
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