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re: Ochsner CEO sees $130M loss in two months amid coronavirus fight
Posted on 5/3/20 at 2:40 pm to lsunurse
Posted on 5/3/20 at 2:40 pm to lsunurse
quote:
You have to remember part of the reason for stopping elective cases was also to conserve hospital PPE.
Welp the nurses have done a great job at that. #nursesoftiktok for the win.
0
Posted on 5/3/20 at 2:44 pm to GoAwayImBaitn
quote:
The amount Warner makes is disgusting. 3 million a year with a $500,000 bonus that he gets EVERY year.
Good luck finding someone competent to run a business with 26k employees for 300k baw.
Dude is responsible for billions of dollars in payroll but he should make less than my Allstate agent dammit
This post was edited on 5/3/20 at 2:46 pm
Posted on 5/3/20 at 2:53 pm to GoAwayImBaitn
quote:
The amount Warner makes is disgusting. 3 million a year with a $500,000 bonus that he gets EVERY year.
The fact that Ochsner is famous for working every single department under staffed and they constantly poor mouth everyone makes it more disgusting. Not one nurse or tech at Ochsner gets a bonus at the end of the year, yet he gets $500,000 routinely!
These hospitals are just looking to get a federal bailout like the airlines and hospitality industries. Of course they are crying about "losses". Fact is all the OT'ers simping for this New Orleans hospital are suckers.
The CEO deserves to be fired if he really lost 130 million in Q1. Why did he make his system Covid only? Hospitals here in Orlando area had certain floors dedicated to covid but the other departments were still operational. This is a big NOLA style fail.
He must've been banking on NOLA really being a NYC style hotspot with 50-60 thousand covids bringing in $50k a piece. Too bad his gamble lost $130MM for the hospital. He deserves to be fired for this.
Maybe he drank the kool aid that was flowing. Didn't the corps of engineers build a $120MM field hospital in the city's convention center for thousands of patients and only 2 dozen used it? That's another $120MM down the drain but it's fed money so yall don't care. Between this and the billion from FEMA for Katrina NOLA wasted more than their share of tax payer dollars. LA and NOLA are corrupt af.
This post was edited on 5/3/20 at 2:54 pm
Posted on 5/3/20 at 2:54 pm to fallguy_1978
For real...there are probably doctors in the ochsner system that make more than that. People complaining that the CEO of one of the biggest companies in Louisiana makes a couple mil? lol
Posted on 5/3/20 at 2:55 pm to Rouge
quote:
Loss in revenue does not equal loss, fyi
Holy shite
Posted on 5/3/20 at 3:02 pm to TigahJay
quote:
For real...there are probably doctors in the ochsner system that make more than that. People complaining that the CEO of one of the biggest companies in Louisiana makes a couple mil? lol
It's almost as if when the government shuts down most of a business for months that they lose a lot of money. I'm sure Disney parks, airlines and car rentals have been hemorrhaging money too.
Posted on 5/3/20 at 3:02 pm to The Truth 34
Warner Thomas can kiss my arse! his 7 figure salary isn't getting cut while they are FORCING every employee to use 12 hours PTO every pay period and must use 96 hours by end of June. it you don't have enough then you will go into - territory. If you quit after June, you will have to pay back any owed hours.
Posted on 5/3/20 at 3:06 pm to fallguy_1978
quote:People who think a hospital CEO making $3M is "exorbitant" are clueless.
Good luck finding someone competent to run a business with 26k employees for 300k baw.
Dude is responsible for billions of dollars in payroll but he should make less than my Allstate agent dammit
A single MRI machine costs more than he makes. Not even going to include the annual PM and warranty costs.
Posted on 5/3/20 at 3:08 pm to Ronaldo Burgundiaz
quote:
People who think a hospital CEO making $3M is "exorbitant" are clueless.
It's the largest hospital system in the region too. It's a massive organization. Trump met with the Oschner leaders about Covid in LA.
Posted on 5/3/20 at 3:11 pm to fallguy_1978
That's probably what they charge and not what they actually collect, Insurance write offs and all. But with all there different facilities I bet it is rather substantial
Posted on 5/3/20 at 3:18 pm to buford4LSU
quote:
FORCING every employee to use 12 hours PTO
quote:their salary isn’t getting cut either
his 7 figure salary isn't getting cut
I like how everyone seems to think money business is just magical like rainbow farts. We can shutdown everything and force businesses to close, but people seem SHOCKED when it causes issues with payroll
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 4:22 pm to Rouge
quote:
Loss in revenue does not equal loss, fyi
A lot of people in this thread are shitting on you, but I get what you’re saying. This is correct, a loss is typically not really referring to revenue and in the accounting world it is simply when expenses exceed revenues. Theoretically a company can have a $130 M loss in revenue and still turn a profit. Healthcare accounting is its own animal, but accompanying elective surgery revenues would be elective surgery costs, so the loss is likely due to fixed expenses that exist even when they don’t have a single patient come in the door.
This post was edited on 5/3/20 at 5:04 pm
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 5:16 pm to TigahJay
quote:
For real...there are probably doctors in the ochsner system that make more than that. People complaining that the CEO of one of the biggest companies in Louisiana makes a couple mil? lol
Herein lies the problem with Healthcare today.
They're are in fact NO doctors making more than Warner Thomas at Ochsner. Look up the taxes on the organization. It's all layed out in plain sight.
The essential personnel who make health care what it is make a small fraction of what the CEO makes. Average doctors probably make $150,000-$200,000 a year. Surgeons make $350,000-$500,000+ or so
I have no problem with a CEO making this kind of money BUT this is a "not for profit" health system. We are not talking Coca Cola, Pepsi, FedEx, UPS, or big oil etc.
If there was ever an organization needing a union to represent the people being taken advantage of left and right by the management it's Ochsner. The entire organization is a joke
Posted on 5/3/20 at 5:19 pm to GoAwayImBaitn
quote:
If there was ever an organization needing a union to represent the people being taken advantage of left and right by the management it's Ochsner. The entire organization is a joke
I don’t disagree with this...never said it was well ran/managed
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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