COVID-19 impacts: Ochsner expected to lose $400 million in revenue

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JEFFERSON, La. (WDSU) — Warner Thomas, Ochsner Health CEO, said the COVID-19 crisis is substantially impacting the health system’s revenue.

“We are projecting that our revenue will be down anywhere from $300 to $400 million throughout the entire year of 2020,” Thomas said.

Thomas said staff is being asked to use vacation time between now and June. Thomas stressed this will not impact patient care and employees on the front lines of COVID-19 are exempt.

“We believe that preservation of jobs and stability is number one,” Thomas said. “We understand taking some vacation time can be challenging but at the same time if you look at an alternative of furlough or being laid off we think this is a much better approach that is creating a more stable situation for our employees.”

Thomas said no one is being laid off or furloughed. They are also working with employees in special situations. For example, if an employee is a pregnant or having a medical procedure.

“We think this is the least harmful way to have some cost reduction around our employees and certainly will continue to support them like we have through this whole process,” Thomas said.

Thomas also stressed staff retirement plans will not be impacted.

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