Atrium Health loses $30M in first quarter of 2020

May 13, 2020 GMT

CHARLOTTE, N.C. (AP) — A North Carolina health care system lost nearly $30 million in the first quarter of this year as it dealt with the coronavirus pandemic.

Atrium Health’s operating loss announced Tuesday is down $56 million from its $26 million income during the fourth quarter of 2019, the Charlotte Observer reported.

The hospital system in Charlotte has decided to resume non-essential procedures after a pause in March caused “significant financial consequences,” Atrium Health CEO Gene Woods said in April.


The board also gave the green light in April to allow the health system to borrow up to $750 million for operations related to the virus outbreak.

Woods said Atrium Health’s coronavirus predictive model now shows virus cases in Mecklenburg County peaking in late July, as opposed to the county model that shows cases peaking in the middle of that month. Woods said the hospital system’s model shows there will be enough hospital beds and personal protective equipment in the county during the peak.

Approximately two-thirds of COVID-19 patients in the county have so far recovered, according to Mecklenburg County figures released Tuesday. North Carolina health officials reported there have been nearly 15,350 positive COVID-19 cases as of Tuesday morning and 577 related deaths, an increase of 27 compared to Monday.