The hospital first declared a fiscal emergency in November 2022 that would authorize a bankruptcy filing, but hospital management did not pursue bankruptcy until they first looked at short-term solutions.
The Stable Outlook is supported by the expectation that AdventHealth's balance sheet and EBITDA recovery plan, a portfolio review and strategic readjustment of relationships in some of its markets, combined with some easing of the recent industry pressures, should return the organization to its historically very strong operating profile and help in strengthening of the balance sheet.
Members of the state’s congressional delegation are among a bipartisan group of lawmakers calling on Capitol Hill leaders to prevent $8 billion in proposed cuts to safety-net hospitals.
State lawmakers signed off on an emergency rule Thursday that will allow rural hospitals to access a new pot of federal funding. The regulation will allow financially strapped facilities to apply for a Rural Emergency Hospital designation that will open the facilities up to millions of dollars in federal assistance and higher Medicare reimbursement rates.