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Higher labor costs cut into Sloan’s operating margin

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Citing higher labor costs, New York City-based  and world-famous Memorial Sloan-Kettering Cancer Center reported that its operating income  fell to $143.1 million on $2.7 billion in revenue for the nine months that ended Sept. 30 from $163 million on revenue of $2.5 billion a year earlier. So it had an operating margin of 5.3 percent,  down from the year-earlier 6.6 percent.

The center reported that its  higher revenue was partly caused by greater patient admissions, outpatient visits and surgical case volume all rose in the period.

Sloan Kettering said  expense growth stemmed mostly from an increase in  the number of full-time employees needed to  address patient volumes and work in new clinical facilities. Its supply costs also grew.


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