Erlanger Health System officials said Monday the hospital had a $2.3 million loss in January.
And, officials said that February - with the loss of four days of surgeries due to the weather - "won't be pretty."
For the year to date, Erlanger losses stand at $3.8 million.
Britt Tabor, finance director, said that is much better than the budgeted losses of over $7 million by this point in the fiscal year.
For January, surgical inpatients were over 20 percent under budget and outpatients 6.9 percent under budget. Emergency room visits were 11.7 percent under budget.
One bright point in the budget was a rise in income from the Life Force helicopter, which has been on a downward trend. Helicopter patients were over 70 percent above budget.
Mr. Tabor said hospital efforts to forge closer ties with area medical facilities regarding the helicopter service may be paying off.
He said it is too early to know if the figures were an aberration or a sign of continued improvement.