Memorial President & CEO Kent Nicaud shares update on COVID-19 losses
“What we looked like pre-COVID-19 will be forever changed. We are evolving as we continue to heal. We are creating our new normal and that takes much reflection, data analytics and even personnel changes. Many organizations and individuals throughout the country have had to adjust. Memorial is no different,” began Memorial Health System President & CEO Kent Nicaud as he addressed health system leadership and members of the media on Wednesday, April 27.
In his State of Memorial address, Nicaud detailed Memorial’s COVID-19 journey and recovery including expenses, loan payments, bond ratings, administrative structure, and more.
COVID-19 by the numbers
- Almost 200,000 COVID-19 tests were given
- 54,000 vaccinations were administered
- Nearly 7,000 antibody infusions were used as treatment measures
- Over 6,800 non-Memorial infected patients followed through their infection with in-person and telehealth visits
COVID-19 losses are stark
“Through February 2022, Memorial’s costs and loss of revenue associated with COVID-19 totals more than $134,174,035.”
Additional funding is necessary
“To date Memorial has received $47,602,151 million toward the $134,174,035 loss related to COVID-19, which simply is not enough.”
Patient care remains the priority
“We are on a good trend to overcome the pandemic’s effects and increased costs directly associated with COVID-19. It took a strong team, all rowing together, to weather this storm. No doubt the pandemic changed us and we look different than what we looked like before. Assuredly, what has not changed is how Memorial will continue to put its community and its patients first no matter the cost.”
View media coverage below.
The worst of the pandemic may be over but hospitals still recovering (WLOX)
Federal relief funds inadequate to cover losses, hospital CEO says (Sun Herald)