We conducted a nationwide and retrospective cohort study to assess the survival experience and determining factors in adult inpatients with laboratory-confirmed COVID-19. Data from 5,393 individuals were analyzed using the Kaplan-Meier method and a multivariate Cox proportional hazard regression model was fitted. The 7-day survival was 0.822 and went to 0.482, 0.280, and 0.145 on days 15, 21, and 30 of hospital stay, respectively. In the multiple analysis, factors associated with an increased risk of dying were: male gender, age, longer disease evolution before hospital entry, exposure to mechanical ventilator support, and personal history of chronic noncommunicable diseases (namely obesity, type-2 diabetes mellitus, and chronic kidney disease). To the best of our knowledge, this is the first study analyzing the survival probability in a large subset of Latin-American adults with COVID-19 and our results contribute to achieving a better understanding of disease evolution.