Erlanger Health System Projecting $10.8 Million Profit - With Help From $19 Million In Federal Funds

Monday, July 21, 2014

Erlanger Health System is projecting a $10.8 million profit for the upcoming fiscal year - with the help of $19 million in federal funds from a pool for public hospitals.

The $19 million received in time for the current budget helped avoid a sizable deficit.

The hospital is hoping the federal funds will be coming on an annual basis.

At the start of the last fiscal year, with no federal funds in sight, Erlanger budgeted a $4 million deficit. It would have been much worse except for the recent funding that CEO Kevin Spiegel helped obtain.

Mr. Spiegel said of the new fiscal worksheet, "It's a very aggressive budget, but I believe we're going to meet it. or exceed it, and have a very successful year."

The CEO said if Tennessee expands Medicaid, "We would see significantly more revenue."

But he said, "If we see more TennCare cuts, or Medicare cuts, than projected, or if our relationship with United Healthcare changes significantly, we will have come in short."

The budget includes $2.75 million to shore up pay for bedside nurses.

Finance Director Britt Tabor, noting that nurses received a 3 percent raise in January and other employees got 2 percent, said there are no additional increases in the new budget.

He said a number of cost-saving initiatives led by Mr. Spiegel brought significant savings, including moving from a pension program to a contributing plan, having employees contribute more to healthcare expenses, and farming out food service.

The budget includes $25 million in capital spending. Jack Studer, board finance committee chairman, said it is aimed at giving physicians top space and equipment so they can provide optimal care for patients.

There is $8 million for development of an orthopaedic center of excellence and funding for the latest in MRI equipment.

Projected revenue is $621.2 million - up 1 percent.   



Man Charged With Vehicular Homicide Takes Off From Hospital

A man involved in a fatal wreck in which his passenger died was taken to a hospital, then absconded, the Tennessee Highway Patrol said.   The THP was dispatched to State Route 81 in Washington County, Tn., to a motor vehicle crash with injuries and possible fatality.  Officers arrived on the scene and found an unresponsive male subject lying outside of the vehicle ... (click for more)

Upcoming City Council Agenda For Tuesday

Here is the upcoming City Council agenda for Tuesday: I. Call to Order. II. Pledge of Allegiance/Invocation (Councilman Mitchell). III. Minute Approval. IV. Special Presentation. PUBLIC HEARING - Annexation - Lookout Mountain Conservancy PUBLIC HEARING - Deannexation - Institute of Health and Healing V. Ordinances – Final Reading: PLANNING ... (click for more)

October Is Breast Cancer Awareness Month: Myth And Fact Check

My husband and I recently had the privilege of participating in the American Cancer Society’s Making Strides Against Breast Cancer Walk in Chattanooga. I listened as my husband told the audience about how his mother was diagnosed with breast cancer when he was nine and how she died from the disease when he was fourteen. As a child, my husband didn’t understand what breast cancer ... (click for more)

Roy Exum: At Last! New Schools

In this me-me-me-only-me world of today, we-we-we-finally got a thrilling $125 million facility plan for the Hamilton County Department of Education on Thursday night. The School Board unanimously approved a well-thought-out “first Band-Aid” that will provide a new elementary school in Harrison, middle schools in East Hamilton and Howard, and a quite-satisfactory answer to move ... (click for more)

Mocs Volleyball Wins 3-0 At Western Carolina

The Chattanooga Mocs volleyball team snapped a two-game skid with a convincing 3-0 (25-13, 25-22, 25-23) sweep over Western Carolina on Friday evening in Cullowhee, N.C.   Following the win, the Mocs improve to 12-11 overall and 5-4 in Southern Conference action. The Catamounts fall to 7-15, 2-7 in the SoCon.   It was a balanced effort on offense as three different ... (click for more)

Lanters Are Latest Sister Acts Leading Lady Flames Teams

When one looks back on the success of the Lee University women’s soccer program over the past 16 years, it is easy to see what sisters have provided. Records show the surge began in 2001 and continues today with senior Summer and freshman Anna Lanter (former Soddy Daisy High School standouts) helping spark the Lady Flames to a current 8-4 overall mark and 7-2 in the rugged Gulf ... (click for more)