Cleveland Clinic’s losses exceed $1 billion in 2022

Higher expenses and investment losses contributed to Cleveland Clinic’s shaky financial performance in 2022.

The Ohio-based organization reported a $1.25 billion net loss in 2022, compared with a $2.21 billion gain in 2021, according to unaudited results released Wednesday. Operating expenses jumped 13.6%, or by nearly $1.5 billion, to $12.45 billion, including a 13.8% rise in salaries and wages and a 13.7% jump for pharmaceuticals.

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