The Mayo Clinic has announced that it's restoring its pay levels and bringing back its furloughed workers months ahead of schedule.
The Rochester hospital system had cut pay and furloughed staff in the wake of the COVID-19 outbreak, which had a significant impact on its revenue as it had to drastically reduce its procedures to prevent the potential spread of infection.
On Thursday however, it announced that its furloughed workers would be returning this August.
Furthermore, the pay cuts imposed as revenue tumbled will be restored to pre-COVID levels for all staff except senior leadership in mid-July, which it said is "months sooner than had been anticipated."
Minnesota has seemingly succeeded at reducing the rate of cases, hospitalizations, and deaths over the past six weeks, thus far not seeing a resurgence of infections as has been the case in several southern and western U.S. states.
As a result of this, and with restrictions limiting non-elective surgeries being lifted in early May, the Mayo says its patients volumes reached 85-90 percent of normal levels in mid-June.
"Because of our staff's teamwork and commitment to patients, our practice reactivation over the past eight weeks has truly exceeded expectations for revised 2020 patient volumes and financial targets,” says Mayo Clinic CEO Dr. Gianrico Farrugia.
"In short, we are in a much better position than we anticipated, and we're very pleased to be able to restore pay and end furloughs early."
Having initially projected a 2020 loss of $3 billion, the Mayo says its financial situation is improving more quickly than originally expected, though it's not yet back at the original levels planned for 2020.
Dr. Farrugia did say that not all furloughed staff will return to the Rochester campus, saying the pandemic "has demonstrated that many people can work effectively from home given the need to protect patients and staff."