Erlanger Health System posted a $1.9 million profit in March, CFO Britt Tabor reported to the Budget and Finance Committee Monday night.
Mr. Tabor told trustees that Erlanger’s year-to-date-loss stands at $4.3 million, compared to a budgeted year-to-date loss of $3.6 million.
He said, “Nine months into the fiscal year, we feel considerably better about our financial situation going forward, particularly since our losses stood at $9.4 million this time last year.”
Highlights of Erlanger’s March financial report are:
- Admissions were over budget by .6% and 2.2% greater than last year
- Surgical inpatients were 1.9% over budget and 9.4% greater than last year. Surgical mix in March was 29.5%
- Orthopedic inpatient surgeries were significantly higher, at almost 26% over budget and 35% greater than last year
- Helicopter patients were more than 15% over budget, and 17.6% higher than last year
- Cost per adjusted admission was $7,938 compared to a budgeted $8,317.
- Paid FTE’s per adjusted occupied bed was 5.25, compared to a budgeted 5.40, although salary cost per hour was $28.44 compared to a budgeted $27.31.
- Supplies and drugs per adjusted admission was $1,473 compared to a budget of $1,535
- Days of cash on hand are now up to 70 days, compared to 67 in February and 65 in January
On the payor mix for April, Mr. Tabor said the hospital's commercial utilization last month was 5.9% under budget, although 7.4% higher than last year. He said Erlanger’s indigent/self pay utilization was 30% over budget and 2% greater than last year. Also, bad debt and charity care as a percentage of gross patient revenue was 9.66% in March, compared to a budgeted 10.36%.
Although emergency room visits were 5.7% under budget in March, they were almost 6% greater than last year. Erlanger had no divert hours last month.
Mr. Tabor said surgical outpatient volume was 7.7% under budget, although 1% greater than last March. Neurosurgery inpatient surgeries were 9.3% under budget and down by 3.7% from last year. Inpatient heart/thoracic surgeries with cabs/valves were 54% under budget and 52% less than last year.
Cath lab procedures were down by 2.3%, but 10% higher than last March.
Physician practice outpatient visits were also slightly under budget, at 1.6%, but 25.6% greater than last March.
Mr. Tabor also reported that observation days were 17.4% over budget last month and more than 15% greater than last March.
In addition, Erlanger provided more than $4.6 million in uncompensated care during the month of March, bringing the year-to-date total of uncompensated healthcare services of more than $64.4 million to this community.
Chief Nursing Officer Jan Keys gained committee approval for the purchase of both bedside and transport physiological monitors used to monitor such parameters as EKG, blood pressure, oxygen saturation, temperature and cardiac output.
She said the patient monitor replacement program, which includes the cost of new monitors, software licenses, associated network infrastructure, IT, construction and engineering support, is expected to be completed over the next two years. “Erlanger is committed to provide patient care with the ‘best in class’ monitoring system,” she told the committee.