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Analysis

AdventHealth Central Florida Division CFO: Losses Close to $263M

By Jack O'Brien  
   August 14, 2020

Todd Goodman told the American Hospital Association that Florida is "in the middle of the crisis."

The CFO of AdventHealth's Central Florida division said that the total losses since the coronavirus disease 2019 (COVID-19) pandemic began this spring have topped $260 million. 

Todd Goodman told the American Hospital Association (AHA) that the widespread cancellation of elective procedures due to the outbreak negatively impacted the organization's bottom line over the past five months.

Goodman said the organization recorded a revenue shortfall of $172 million for the month of April and spent $254 million sourcing personal protective equipment from across AdventHealth's national platform.

Related: AdventHealth Uses AI to Balance Capacity Issues Among 9 Hospitals

He added that Florida is currently "in the middle of the crisis."

"Our current COVID numbers are four times higher than the peak that we had back in April. We are bringing in higher-priced nurses and staff from other parts of the nation, because of a rapid increase in inpatient census," Goodman said. "We are in a different place today than we were even six weeks ago."

Goodman's comments come as Florida continues to endure a surge of COVID-19 cases in recent weeks.

AdventHealth's Central Florida division covers seven counties, including Orange, Seminole, Osceola, Polk, Volusia, Flagler, and Lake.

Related: From Now On, It's AdventHealth

The nonprofit health system based in Altamonte Springs, Florida also saw its Orlando facilities face revenue shortfalls of just over $50 million during the last two weeks of March, according to Doug Hilliard, CFO of 10 AdventHealth hospitals.

As Congress and the White House continue to negotiate an additional COVID-19 economic stimulus package, Goodman said that his organization is "going to need an additional tranche of dollars to deal with the pathology that we’re seeing today."

Jack O'Brien is the finance editor at HealthLeaders, a Simplify Compliance brand.

Photo credit: Orlando, Florida, USA- February 20, 2020: AdventHealth Orlando, a faith-based non-profit, tertiary, research and academic medical center in Orlando, Florida, USA. / Editorial credit: JHVEPhoto / Shutterstock.com


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