CFO of 10 AdventHealth hospitals says losses top $260M

Altamonte Springs, Fla.-based AdventHealth needs additional funds to offset losses tied to the COVID-19 pandemic, according to a recent American Hospital Association report.

Like health systems across the U.S., AdventHealth incurred losses in the second half of March due to postponing elective procedures. Losses grew significantly over the next several months due to a surge of COVID-19 patients in Florida. The health system's COVID-19 hospitalizations were at a peak of 788 patients on July 17, according to the AHA report. 

"We had a $172 million shortfall for the month of April," Doug Hilliard, CFO of 10 AdventHealth hospitals, told the AHA. "In total, the losses are close to $263 million to date," he said. 

Todd Goodman, division CFO of AdventHealth's 20 acute care and emergency facilities, said the health system is grateful for the funding it has received under the Coronavirus Aid, Relief and Economic Security Act. However, more funds are needed to help offset losses. 

"We're going to need an additional tranche of dollars to deal with the pathology that we're seeing today," he told the AHA. 

AdventHealth isn't the only Florida health system seeking more federal relief aid. A group representing the state's safety-net hospitals is also pressing HHS for more CARES Act funding. 

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