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Started By
Message
Ochsner CEO sees $130M loss in two months amid coronavirus fight
Posted on 4/18/20 at 9:42 am
Posted on 4/18/20 at 9:42 am
quote:
Ochsner Health System, the largest hospital network in Louisiana, expects to lose tens of millions of dollars in revenue due to the cancellation of elective surgeries and other procedures, a financial predicament confronting many hospitals even as coronavirus patients continue to arrive for treatment.
Ochsner Chief Executive Warner Thomas told employees Friday in an email and video message that the number of patients across the health care provider's hospitals and clinics has fallen by as much as 70%, pushing the non-profit's revenue lower by an expected $130 million in March and April alone. At the same time, costs for personal protective equipment, lab work and additional beds have risen.
“Certainly the fact that we've had to cancel elective surgeries, cancel many of the things we do in our clinics, has created a significant shortfall for us economically," Thomas said in a video message to staff.
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Posted on 4/18/20 at 9:43 am to John88
Loss in revenue does not equal loss, fyi
Posted on 4/18/20 at 9:44 am to John88
quote:
pushing the non-profit's revenue lower by an expected $130 million
Posted on 4/18/20 at 9:45 am to John88
State medical board supposed to open up outpatient stuff shortly
Posted on 4/18/20 at 9:46 am to John88
quote:
non-profit's
Alrighty then.
This post was edited on 4/18/20 at 9:47 am
Posted on 4/18/20 at 9:54 am to John88
But plenty of people here have told me the government and hospitals were pumping up covid numbers to get boat loads of cash.
This post was edited on 4/18/20 at 11:35 am
Posted on 4/18/20 at 10:03 am to John88
How about they declare bankruptcy like every other small business. Hospitals fail all the time. F Ochsner, big fish in a small pond.
More Hospitals need to go under. This just shows the hospital market is over saturated.
Darwin smiles. Any hospital that can find a way to lose money in the middle of a health crisis deserves to fail. Ochsners managment obviously sucks, CEO should be fired.
More Hospitals need to go under. This just shows the hospital market is over saturated.
Darwin smiles. Any hospital that can find a way to lose money in the middle of a health crisis deserves to fail. Ochsners managment obviously sucks, CEO should be fired.
This post was edited on 4/18/20 at 10:10 am
Posted on 4/18/20 at 10:08 am to John88
quote:I’m always hesitant to trust backward name folks.
Ochsner Chief Executive Warner Thomas
Lee Harvey Oswald?
James Earl Ray?
Shirhan Shirhan? (Technically a tie, I guess)
Posted on 4/18/20 at 10:17 am to John88
I bet he still gets his 6 figure income...
Posted on 4/18/20 at 10:21 am to John88
I have a great respect for the medical community as a vital pillar of our free society.
That said, where CEOs are not legally obligated to publish financials and always talk about “losses”, I get leery. When we return to full business will he say “we got $130M increase in revenue after full operations”? Not likely.
That said, where CEOs are not legally obligated to publish financials and always talk about “losses”, I get leery. When we return to full business will he say “we got $130M increase in revenue after full operations”? Not likely.
Posted on 4/18/20 at 10:28 am to John88
If they would just allow OP elective surgeries they would have been fine
I don’t really understand how that wasn’t noted in the initial quarantine rules
Hospitals will shut down without elective surgical cases. It’s not a difficult concept to grasp. Lots of rural hospitals without strong national backing may shut down if they can’t do elective surgeries soon
I don’t really understand how that wasn’t noted in the initial quarantine rules
Hospitals will shut down without elective surgical cases. It’s not a difficult concept to grasp. Lots of rural hospitals without strong national backing may shut down if they can’t do elective surgeries soon
This post was edited on 4/18/20 at 10:30 am
Posted on 4/18/20 at 10:40 am to John88
quote:
$130M loss
They can recoup that with a couple of transplants.
Posted on 4/18/20 at 10:41 am to John88
they mailed a letter to my Grandpa asking for donations to help support their out of work employees, he’s just a patient in their system, has never given them more than a copay
Posted on 4/18/20 at 11:20 am to John88
Now seems like a golden opportunity to strong arm some accountability in hospital pricing.
Posted on 5/3/20 at 4:03 pm to John88
“...variance due to timing. Next slide.”
Posted on 5/3/20 at 4:05 pm to John88
I guess they will only be able to buy 1 new hospital this year and not 5
Posted on 5/3/20 at 4:19 pm to John88
On the bright side, the healthcare system has not been overwhelmed.
Posted on 5/3/20 at 5:03 pm to John88
Poor babies and their multi million dollar salaries
Posted on 5/3/20 at 5:22 pm to John88
Thing is, once the elective surgeries start taking place, they probably will have record revenue numbers.
Posted on 5/4/20 at 12:43 pm to John88
Y'all fixin' to start paying more for services from Ochsner Health.
This post was edited on 5/4/20 at 12:44 pm
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