OHSU patient volumes continues to grow year over year with strong demand, but revenue is being outpaced by increased wages and benefits costs, the health system said in a Jan. 25 news release.
The system, which plans to combine and create a 10-hospital system with Portland-based Legacy Health, recorded a $26 million operating loss over the first half of the year on a $4.9 billion annual budget.
However, CFO Lawrence Furnstahl noted during a Jan. 25 regular public meeting that the operating loss is more than offset by a $68 million payment in federal reimbursement from previous years, related to expenses in contract labor, personal protective equipment and other costs stemming from the COVID-19 pandemic.
Mr. Furnstahl said he is optimistic that OHSU will overcome economic challenges affecting the healthcare system. Despite patient capacity challenges, the health system said it continues to see more high-acuity patients and is working to improve patient flow while also accelerating growth of complex services in cancer, neurosurgery and cardiovascular care.
