Lee Health finances holding steady despite pandemic
The chief financial officer said the system could break even by the end of the year.
Currently, the deficit is about $18 million. Five months ago, the deficit was $90 million. To save money, Lee Health created a voluntary exit program, allowing staff to leave their positions without penalty and collect a severance package, or take a summer sabbatical.
CFO Ben Spence said the hospital is even prepared for another spike in COVID-19 cases.
“We are going to be more prepared. The financial crisis that could impact us is always if we have to reduce surgeries,” Spence said. “That’s something I don’t think we would offset all those losses. I think we would incur another set of losses but hopefully not at the same magnitude.”
Spence said that no matter how much money Lee Health loses, the standard of care will not change.