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re: Ochsner CEO sees $130M loss in two months amid coronavirus fight

Posted on 4/18/20 at 9:55 am to
Posted by fallguy_1978
Best States #50
Member since Feb 2018
50553 posts
Posted on 4/18/20 at 9:55 am to
quote:

you think non-profits like this don't rely on revenue?

revenue isn't profit, brotha

Non profits still rely on increasing revenues for business investments, employee raises, rising costs/inflation
Posted by MojoGuyPan
Intercession City, Florida
Member since Jun 2018
2797 posts
Posted on 4/18/20 at 10:03 am to
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.

This post was edited on 4/18/20 at 10:10 am
Posted by shel311
McKinney, Texas
Member since Aug 2004
111936 posts
Posted on 4/18/20 at 10:04 am to
quote:

pushing the non-profit's revenue lower by an expected $130 million
How do you think non profits continue to run over sustained periods of time, monopoly money?
Posted by lsunurse
Member since Dec 2005
129146 posts
Posted on 4/18/20 at 10:07 am to
quote:

More Hospitals need to go under.



You do realize several hospitals have been closing all over the nation prior to COVID hitting?


Some of them in areas that will suffer from not having a hospital available in that area.
This post was edited on 4/18/20 at 10:08 am
Posted by soccerfüt
Location: A Series of Tubes
Member since May 2013
67631 posts
Posted on 4/18/20 at 10:08 am to
quote:

Ochsner Chief Executive Warner Thomas
I’m always hesitant to trust backward name folks.

Lee Harvey Oswald?
James Earl Ray?
Shirhan Shirhan? (Technically a tie, I guess)
Posted by bourbon_n_such
Member since Jul 2018
35 posts
Posted on 4/18/20 at 10:14 am to
The amount of ignorance and yes, even stupidity, in this thread is amazing. Non-profit = doesn’t pay taxes. They are still in the business of making a profit to reinvest in their facility/employees and expand services. A $130M loss in revenue is probably a $20M loss in cash collections. A $10M per month loss of cash is hard for any hospital or business to absorb.
Posted by Hangover Haven
Metry
Member since Oct 2013
28484 posts
Posted on 4/18/20 at 10:17 am to
I bet he still gets his 6 figure income...
Posted by hobbs4lsu
allover
Member since Jun 2008
82 posts
Posted on 4/18/20 at 10:21 am to
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.
Posted by BayouLSU
down south
Member since Feb 2007
476 posts
Posted on 4/18/20 at 10:21 am to
His income is seven figures plus a six figure bonus
Posted by lsu xman
Member since Oct 2006
16137 posts
Posted on 4/18/20 at 10:22 am to
Article said Oschner made $71mil in 2018.

$30mil free money from the Feds.

quote:

Ochsner received a first payment of just under $30 million from the federal government as part of $100 billion relief fund set aside by Congress for hospitals. The first $30 billion went out last week
Posted by lsunurse
Member since Dec 2005
129146 posts
Posted on 4/18/20 at 10:22 am to
Facility I work for is a non-profit. One that has had some really dark days financially like 10 years ago. We were looking really good lately and expanding. Was just about to open a massive clinic with ambulatory surgery this month(that now won't open until sometime next year I'm told).


Hopefully once we can start back up with our elective surgeries and reopen our dental areas (we have dental clinics as well in our healthcare system) things will get better for us.

One area that hasn't been impacted that likely has helped us out is behavioral health(which we now have a lot of). Still a high demand for behavioral health beds.
Posted by Antonio Moss
Baton Rouge
Member since Mar 2006
48587 posts
Posted on 4/18/20 at 10:23 am to
quote:

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.


On website full dumb posts, this may be dumbest.
Posted by CajunAlum Tiger Fan
The Great State of Louisiana
Member since Jan 2008
7919 posts
Posted on 4/18/20 at 10:23 am to
quote:

The amount of ignorance and yes, even stupidity, in this thread is amazing.


quote:

A $130M loss in revenue is probably a $20M loss in cash collections.




Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
36637 posts
Posted on 4/18/20 at 10:24 am to
quote:

you think a non-profit is offering stock options, let alone ones worth $30M?

Actual numbers

2 CEOs (don't know why) made about $2.5M combined


Those numbers are WAY old.

Warner alone makes about 4 mill.

Ochsner's biggest expense isn't wages.
Posted by SlowFlowPro
Simple Solutions to Complex Probs
Member since Jan 2004
435758 posts
Posted on 4/18/20 at 10:25 am to
quote:

Warner alone makes about 4 mill.

it ain't $30M, regardless

quote:

Ochsner's biggest expense isn't wages.

that was my point
Posted by MojoGuyPan
Intercession City, Florida
Member since Jun 2018
2797 posts
Posted on 4/18/20 at 10:25 am to
quote:

I bet he still gets his 6 figure income...


6? as if.

quote:

...CEO of Ochsner Health System, made more than $3.3 million...
Posted by tgrbaitn08
Member since Dec 2007
148031 posts
Posted on 4/18/20 at 10:28 am to
quote:

Loss in revenue does not equal loss, fyi



Can’t lose something you never had in the first place.
Posted by Winston Cup
Dallas Cowboys Fan
Member since May 2016
65964 posts
Posted on 4/18/20 at 10:28 am to
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
This post was edited on 4/18/20 at 10:30 am
Posted by Chef Free Gold Bloom
Wherever I’m needed
Member since Dec 2019
1364 posts
Posted on 4/18/20 at 10:30 am to
quote:

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




Posted by Chef Free Gold Bloom
Wherever I’m needed
Member since Dec 2019
1364 posts
Posted on 4/18/20 at 10:31 am to
quote:

I don’t really understand how that wasn’t noted in the initial quarantine rules



Because they were telling everyone there wouldn’t be beds left in the hospital and the healthcare system would be stretched to it’s absolute limit needing every doctor and nurse to treat Covid patients 24/7
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