Erlanger Cuts Monthly Loss To $249,056

Monday, May 20, 2013

Erlanger Health System, which had endured two consecutive monthly losses totaling $7.4 million, cut the loss to $249,056 for April.

Kevin Spiegel, new president and CEO, said admissions were up, but the hospital did not control its operating costs as well as it should. He said, "It could have been a home run month if we had managed our expenses better."

Erlanger officials said they will meet with bondholders next week. Officials said earlier the hospital was at risk of not meeting bond covenants at the end of this fiscal year.

Mr. Spiegel said the hospital will be stressing the future outlook and "all the positives" including a new five-year pact with BlueCross BlueShield.

He said, "We will be telling what we do for this community and the services we provide."

Mr. Spiegel also told the board finance committee, "The doctors are coming back." One factor leading to the hospital losses has been listed as an exodus of physicians.

Total losses for the fiscal year to date are $9.6 million.

Admissions were up 10.7 percent over the prior year.

Surgical inpatients were up over 10 percent and surgical outpatients almost 27 percent.

Neurosurgery inpatient surgeries rose 25 percent, while orthopaedic inpatient surgers were down 4.4 percent.

Emergency room visits were down five percent.

Chief Financial Officer Britt Tabor said, “In light of our $2.5 million and $4.9 million losses in February and March, this month’s report represents a significant turnaround for Erlanger. Although we’re not reporting a profit tonight, our numbers look considerably better and we every reason to feel good about the new strategies we have in place. We are ahead of last year’s numbers on all counts.”

Mr. Tabor also pointed out that, 10 months into its fiscal year, Erlanger has already provided more than $62.4 million in uncompensated care to the community. “In April alone, we incurred $5.7 million in uncompensated care, far more than any other health system in this area,” he said.

 


Man Fires Shots At Couple During Pursuit Through East Ridge

East Ridge Police said a man fired four shots at a couple in another vehicle during a pursuit down Ringgold Road. Jonathan Chad Grant, of Cohutta, Ga., is charged with domestic aggravated assault, aggravated assault, reckless endangerment, possession of drug paraphernalia, felony vandalism, two counts of vandalism and theft of property. Police were dispatched to the 5400 ... (click for more)

Corker To Hold Two More Hearings On Iran Nuclear Deal This Week

U.S. Senator Bob Corker, chairman of the Senate Foreign Relations Committee, will preside over two more hearings this week examining the nuclear deal with Iran.   On Tuesday, the committee will hear testimony on non-proliferation, inspections, and nuclear constraints from David Albright of the Institute for Science and International Security, former U.S. Ambassador Robert ... (click for more)

Why Is The City Diverting Federal Transportation Funds From Real Need?

The city of Chattanooga and CBL, owner of Hamilton Place Mall, would have the mass of taxpayers believe that improving mall access from the interstate is not impacting us financially.   Namely, CBL has committed to fund the city’s match of $8 million, so they will receive $32 million in Federal Transportation Funds that are allocated annually to local jurisdictions through ... (click for more)

Roy Exum: A Very Silly Apology

It didn’t get a lot of attention, as well it should not have, but when I heard Japanese giant Mitsubishi was offered an apology for heinous war crimes that took place during World War II, I thought it was an ill-conceived publicity stunt. But, no, in a solemn ceremony last month hosted by the Museum of Tolerance at the Simon Wiesenthal Center in Los Angeles, that is exactly what ... (click for more)

UTC Football: First Practice To A National Title

Monday was the first day of pre-season practice for the UTC football team with 33 days to the season opener with Jacksonville (Ala.) State and 159 days (Jan.9, 2016) to the FCS title game in Frisco, Texas. The last time UTC played in Texas was half a century ago at North Texas State (Denton) in 1966.   “The first day of practice is always exciting as it’s the start ... (click for more)

Jones Press Conference Kicks Off Vols' Preseason

KNOXVILLE, Tenn. – Coach Butch Jones held his preseason football press conference on Monday at Neyland Stadium. Jones heads into his third season with visible enthusiasm after the Vols finished off the 2014 season with an impressive win over Iowa in the TaxSlayer Bowl, following that up with another nationally ranked recruiting class. "In terms of our football team, we ... (click for more)