Erlanger Has $1.4 Million Profit In December; Announces Plan To Freeze Retirement Program

Monday, January 20, 2014

Chief Financial Officer Britt Tabor reported Monday night that the Erlanger Health System posted a $1.4 million profit from operations in December.  He noted that last December Erlanger posted a loss of more than $1.2 million from operations.


At the same time, Erlanger Chief Administrative Officer Gregg Gentry presented a plan to the Erlanger Board's finance committee for an amendment to the Hospital Authority Pension Retirement Plan and Trust to freeze the plan for all employees, effective June 21, 2014.

  


A second resolution was to approve a change to the Erlanger Associate Retirement (401(a) Savings Plan, providing a revised corporate matching plan for those employees affected by the amendment to the Hospital Authority Pension Retirement Plan and Trust. Both were approved by trustees.

 

Mr. Gentry said, "This is a plan freeze, not a plan termination. Accrued benefits through June 21, 2014 will not be reduced."


Officials said,  "A separate communication with details will also be posted on Erlanger’s intranet site tomorrow, and additional information will be made available as we approach the 6/21/14 freeze date." 


 Six months into the fiscal year, Erlanger’s $1.5 million year-to-date loss from operations  “is considerably less than our projected loss of $7.5 million at this point in the fiscal year,” Mr. Tabor told trustees. 

 

He said, “Although we stand at a loss mid-way through our fiscal year, the Erlanger Health System is more than $6 million ahead of our budgeted projections at this point.”

 

Highlights of December’s budget report include:

  • Admissions up by  four percent and 5.6 percent higher than last December.
  • Surgical inpatients 7.6 percent over budget and 17 percent higher than last December.
  • Surgical outpatients 1.8 percent over budget, and more than 10 percent higher than last year.
  • Orthopedic inpatient surgeries 17.6 percent over budget and 26.8 percent greater than prior year.
  • Neurosurgery inpatient surgeries 1.4 percent over budget and 8.8 percent higher than last year.
  • Inpatient heart/thoracic surgeries with cabs/valves 30 percent over budget and 39.3 percent greater than prior year.
  • Cost per adjusted admission was $7,587 compared to a budgeted $8,301
  • Paid FTE’s per adjusted occupied bed 4.91 compared to a budgeted 5.40
  • Supplies and drugs per adjusted admission were slightly less than budgeted, at $1,535, compared to $1,540. 

Mr. Tabor said there were a number of “surprising and unexpected factors” that prevented Erlanger from posting higher gains in December.  “Our indigent/self pay utilization was almost 59 percent over budget and more than 20 percent higher than last December,” he noted.  Also having a negative impact on December financials were ER visits which were down by 11 percent, physician practice visits, down by 39 percent and cardiac cath procedures, which were almost 14 percent under budget.

 

In addition, Erlanger provided more than $5.6 million in uncompensated care during the month of December, bringing the year-to-date total of uncompensated healthcare services of nearly $43 million to the community.

 

   


Couple Ganged After Arranging To Sell PlayStations Via Letgo App

Two men and a woman have been charged in an incident in which a couple said they were robbed, ganged and threatened with a gun after meeting to sell PS3 and PS4 PlayStations for $200. The couple said the deal was set up through the app Letgo that is used for selling items to individuals. They said it was arranged that they meet with the potential buyer, Charley Daniel, on ... (click for more)

Ooltewah Woman Charged With Stealing Items From Cars, Firing Shots At Homeowner Who Confronted Her

A 27-year-old Ooltewah woman has been charged with stealing items from cars on Maplewood Drive, then firing two shots at a homeowner who confronted her. Morgan Lyndsey Shoemaker, of 5204 Village Garden Dr., Ooltewah, is charged with attempted first-degree murder, reckless endangerment, four counts of burglary, two counts of theft of property and possession of a firearm during ... (click for more)

A Light Rain Began To Fall - And Response

Around noon Friday, Jan. 20, 2017, Donald J. Trump was sworn in as the 45th President of the most powerful nation on Earth after a long and sometimes bitter campaign where 17 GOP candidates of his own party and two of the opposing party competed for the honor.   Thousands rejoiced in the Washington D.C. streets while policemen who had come along with national guardsmen pushed ... (click for more)

Roy Exum: A Lady Remembers Rex

Kevin Roden sits on the City Council in Denton, Texas (think the Dallas-Fort Worth airport area in the northeastern part of the state) and he is gearing up to run for a third term this spring. He’s already got his website up and, while the election isn’t until April, he writes on his blog every now and then. Last month he let his wife take a turn at it, which brings us to yesterday’s ... (click for more)

Bradley Girls, Cleveland Boys Post Big 5-3A Wins

CLEVELAND, Tenn. – At this juncture in the District 5-3A basketball season, the No. 1 question around District 5-3A is can anyone slow down the Bradley Central girls and Cleveland boys? About 3,000 fans that packed Raider Arena on Friday night probably left feeling like the No. 1-ranked Bearettes and No. 3 Blue Raiders are entrenched atop the league standings and are possibly ... (click for more)

Arts & Sciences Shows Improvement In Win Over Silverdale Baptist

When the Arts & Sciences and Silverdale Baptist boys’ basketball teams met for the first time this season, the Patriots fought to pull out a 10-point victory in the District 5-A game. For Friday’s rematch, CSAS wanted to prove that it had improved since that Nov. 29 matchup, and it only took one quarter for the Patriots to do just that. Coach Mark Dragoo’s ... (click for more)