Lourdes Hospital’s Parent – Ascension – Posts $1.8B Annual Loss

Ascension - the operator of Binghamton's Lourdes Hospital - has reported a net loss of more than $1.8 billion for its fiscal year.

According to the medical news website Fierce Healthcare, the St. Louis-based company reported a more than $2 billion increase in operating expenses along with $1.2 billion in net losses from investments.

Ascension operates 144 hospitals and 40 senior living facilities in the United States.

In an overview of its financial performance for the fiscal year that ended June 30, Ascension noted operations had been disrupted by several Covid-19 surges.

The company said Covid challenges along with "historic levels" of staff furloughs, rising labor costs and ongoing workforce shortages peaked in the first quarter of 2022.

Lourdes Hospital representatives weren't immediately available to discuss whether new cost-cutting steps are expected to be implemented as a result of the latest losses reported by Ascension.

Lourdes held a job fair in a tent behind the hospital on Saturday. Announcements for the event indicated people were needed for a wide array of positions, including nursing, clinical, food services, housekeeping and clerical.

Enter your number to get our free mobile app

Contact WNBF News reporter Bob Joseph: bob@wnbf.com or (607) 545-2250. For breaking news and updates on developing stories, follow @BinghamtonNow on Twitter.