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July 22, 2020
Dear HCA Healthcare Colleagues,
This morning, we released our earnings report for the second quarter, and overall our financial results were better than we anticipated. We continue to study our results and the environment, but the drivers of this performance were a higher acuity mix within our patient volumes, government stimulus income that we received, and strong execution by our teams. In many respects, the quarter was a remarkable 91 days for the company – possibly the most remarkable I have experienced in my 37 years with the organization – because of the many ups and downs we experienced.
It started with a level of uncertainty and uneasiness that was very high as the pandemic began. The middle part was filled with example after example of colleagues like you stepping up and delivering for each other, and delivering for our patients, all the while strengthening our culture of taking care of others. And finally, it ended with the prowess of our teams on display, showing their abilities to deliver on operational adjustments that were necessary given the circumstances. Thank you for everything you do for our organization.
Our report detailed how, in April, our business was significantly limited by governmental policies that restricted elective procedures and required communities to shelter at home. You saw the impact of that with many of our outpatient clinics and hospital floors closed. As our communities began to reopen in May, patient volumes improved as we executed our reboot plans, which allowed many of you to come back to work.
In general, the improvement in our patient volumes was better and broader than we expected, but we believe it is too early for us to make any conclusive statements about the future. Many uncertainties still remain with respect to the broader recovery of the economy, unemployment rates, uninsured levels, and state budgets. The resurgence and continued challenges of COVID-19 have complicated things and resulted in us restricting elective procedures again at some of our hospitals, primarily in Texas and Florida. As we manage the company through these remarkable and challenging times, we are mindful of our mission throughout the process. We hope to be in a better position to make a more informed judgement including evaluating certain capital and operational decisions we made earlier in the pandemic.
Our goals remain: protect our people and protect the well-being of our facilities in order to continue serving our communities. To date, we have been able to do both and have not laid-off or furloughed any employees due to the pandemic. We will stay the course and continue to support our communities and each other.
I was able to visit 23 hospitals in the last six weeks and was reminded, once again, what an incredible, and resilient, organization we have - one that is driven by a common purpose to do the right thing for others. I have never been more proud to work with this company and alongside you than I am now. We have accomplished a lot over the past few months, and I believe, as a result, we are well positioned for long-term success continuing the great legacy that you have all built; and that is, HCA Healthcare.
Sam Hazen, CEO
TriStar Skyline Medical Center
North Carolina Division
Director of Surgical Services
Capital Regional Medical Center
North Florida Division