The health system, which owns, manages or affiliates with 48 hospitals and hundreds of health centers, reported revenue of more than $4.3 billion in the nine-month period ending Sept. 30, a 37.5 percent increase from the same period in 2020. A large portion of its revenue growth is from patient services revenue, which grew 55 percent to $3 billion in the first nine months of this year when compared to the same period last year.
Total expenses increased in 2021 compared to 2020. Expenses were more than $4.2 billion in the first nine months of this year, a 41.4 percent increase compared to last year. Ochsner attributed the expense increase to a rise in salaries and wages, benefits, medical services to outside providers, medical supplies and services, and other operating expenses. Depreciation and interest also rose, when compared to the same nine-month period last year.
Overall, Ochsner recorded an operating income of $50.9 million in the nine-month period ending Sept. 30. In the same period last year, Ochsner saw an operating income of $123.1 million.
Ochsner said its operating income was affected by both the COVID-19 pandemic and Hurricane Ida, which damaged more than 70 of its facilities.
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