Our Lady of the Lake Health – LSU Economic Impact Report Highlights a Decade of Positive Contributions to Louisiana

September 18, 2023

A newly commissioned Economic Impact Report has unveiled the significant positive economic impact and outcomes resulting from the 10 years of partnership between Our Lady of The Lake Health, LSU and the state of Louisiana. This groundbreaking Cooperative Endeavor Agreement (CEA) marked the first public-private healthcare partnership in the state of Louisiana.

"We are dedicated to enhancing the well-being of the communities we serve. This Economic Impact Report underscores our unwavering commitment to Louisiana's prosperity,” said Chuck Spicer, Our Lady of the Lake Health President. "We are proud of the accomplishments over the past decade and look forward to continuing our journey of providing exceptional healthcare and making meaningful economic contributions."

Since its launch in April 2013, Our Lady of the Lake Health's partnership with LSU and the state of Louisiana has proved to be highly beneficial. Together, clinical, research and academic programs not only helped drive the Louisiana economy but also generate healthcare cost savings and provide high-quality care to vulnerable populations.

"Our Lady of the Lake Health’s sustained commitment to Baton Rouge and beyond is highlighted in this report,” said Jay Dardenne, Louisiana Commissioner of Administration. "Their dedication to providing quality healthcare and fostering economic growth is positively shaping the future of our state.”

The partnership developed when the two institutions sought to correct the healthcare gap in the community following the closure of Earl K. Long Medical Center, connecting a backlog of more than 1,200 former patients to primary care providers in the community.

"Our Lady of the Lake has been a valuable partner in advancing healthcare, education and economic development in Louisiana,” said LSU President William F. Tate IV. “Their contributions align with LSU's goal to improve the lives of our citizens. Together, we have created a lasting impact that benefits the entire state.”

According to the report, over the past 10 years:

• The annual economic impact of the medical center has increased by $1.5 billion.
• Statewide employment has grown by 5,856.
• Our Lady of the Lake Health supported 15,270 jobs directly and indirectly in Louisiana, resulting in 1 in every 150 jobs in the state.
• Operations generated $104 million in state and local taxes.

Tripp Umbach, a pioneer in community health assessment and economic analysis, estimates that by 2030, the economic impact of Our Lady of the Lake Health will increase by $1.2 billion to equal $3.8 billion annually.

Additionally, Our Lady of the Lake Health and LSU have invested in medical education programs and research while nurturing the next generation of healthcare professionals and driving innovation.

As Our Lady of the Lake Health marks this milestone, it looks forward to continuing its legacy of partnership, innovation and impact for the people of Louisiana.

To access the full Economic Impact Report and learn more about Our Lady of the Lake Health's decade of positive contributions to Louisiana, please visit www.fmolhs.org/locations/Greater-Baton-Rouge/Lake-LSU-Economic-Impact-Study.