A 60 year old man presented to the OPD with symptoms suggestive of acute pancreatitis. He consumes high quantities of alcohol regularly. His symptoms staed 4 days ago. But he continued to consume alcohol. He was admitted for fuher evaluation. Presently, he has severe vomiting. He also complains of dizziness when standing. Examination revealed tenderness in the epigastrium and right hypochondrium. A reddish discolouration is noted in the flanks. Which of the following statements regarding the patient is most accurate?