Chairman’s message The improvement in the financial result of the IEO, although still negative, in 2012 – a year of profound crisis for the health/hospital service nationally - is far more than an entry on the balance sheet. It is proof that the clinical and research organisational model of our Institute has been built on solid grounds, able to face even the worst economic situation. This financial improvement was brought about – among other things – jointly with an increase in productivity and in the quality of clinical activity and research. The impact factor, an index of the innovative capacity and worldwide prestige of our research, last year reached its highest level since the Institute opened. Clinical activity - from inpatient and outpatient admissions, right through to radiotherapy and day hospital care – has shown a trend of constant growth, confirming that the quality received by our patients continues to improve. These results are all the more remarkable when seen within the national context of a spending review and an international climate of crisis and of deep uncertainty regarding the availability of resources to overcome it. The main reason for such success resides in the fact the Institute has never ceased to invest in quality: of people – doctors, researchers, managers and personnel as a whole; of technology – diagnosis, treatment and research, of procedures, and of organisational tools. Carlo BUORA Chairman Quality and innovation have led to a rationalisation of procedures, with the consequent containment/reduction of costs, from which the IEO model emerges with increased consistency and efficiency. I would particularly like to extend my thanks to our shareholders, who have continued to believe in and support the IEO model, and to all our staff, who have fully appreciated these current difficulties and have also shared in the necessary sacrifices.