That’s compared to 2019, when the for-profit hospital operator reported revenue of $13.2 billion. The company posted revenue of $14.2 billion in 2018.
CHS said adjusted EBITDA for 2020 is expected to be slightly above the company’s guidance of $1.65 billion to $1.8 billion. The guidance was issued in February and withdrawn in April due to the pandemic.
The company recognized about $600 million of pandemic relief funds in 2020. CHS said expenses and revenue lost during 2020 as a result of the COVID-19 pandemic exceed the amount of relief funds recognized last year.
CHS issued preliminary guidance for 2021. It anticipates net operating revenue in the range of $11.7 billion to $12.5 billion and adjusted EBITDA between $1.6 billion and $1.8 billion.
More articles on healthcare finance:
Chicago, Los Angeles hospitals slated to close
Adeptus Health declares bankruptcy
14 health systems with strong finances
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
