Ochsner takes COVID-19 financial hit

New Orleans-based Ochsner Health System is expecting a financial hit from the COVID-19 pandemic due to the cancelation of elective procedures and rising costs.

In an April 17 email to employees, Ochsner President and CEO Warner Thomas said the health system is expected to record a drop in revenue of up to $130 million in March and April, according to Nola.com. In recent months, the system's hospitals and clinics have seen patient volume tumble as much as 70 percent, and the system's expenses in certain categories, such as protective equipment and lab work, 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," Mr. Thomas said in a video message to staff, according to the report. 

Ochsner is not planning to furlough or lay off employees, according to the report. 

Louisiana has been one of the 10 states hardest hit by the COVID-19 pandemic. The state had 24,523 confirmed cases as of 1:25 p.m. CDT on April 20. 

 

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