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.   


Top City Of Chattanooga Pay

Here is the top pay at the city of Chattanooga: Bean, Russell J       City Judge        $170,537.41 Paty, Sherry B City Judge        $170,537.41 Berke, Andrew L.        Mayor  $154,781.15 Fletcher, Frederick Allen Police Chief     ... (click for more)

Independent Candidate Perry Lamb To Turn In Signatures For Walker County Commissioner Race

Perry Lamb said he would pay his qualifying fee on Thursday morning as an Independent candidate for Walker County sole commissioner. He said he would then finalize the process on July 8 by delivering the 16,50 signatures he has collected that are required by law to put him on the November ballot. His campaign said, "This accomplishment is a first for Walker ... (click for more)

A Disturbing Trend At Exit 11 - And Response (3)

So, am I the first to notice a trend?   How many wrecks does exit 11 need before anyone asks "whats up with that?"  I have lost count of the wrecks that continue to happen, even after last year's awful loss of life (which I believe 51 percent of the blame should fall on the THP officer on duty).  The problem with this section of interstate are sight lines ... (click for more)

Roy Exum: A Story You Won’t See

In a puzzling time when the big daily newspapers have veered strongly away from “all the news that is fit to print,” allow me to share a story that you very likely will not see on CNN, ABC News, or in the big media conglomerates that influence the way you think, the way you react and – as a result – easily warp our common senses. This story is very true. Late last Sunday afternoon, ... (click for more)

Hensley Succeeds Henry As Soddy-Daisy Athletic Director

Soddy-Daisy baseball coach Jared Hensley has added a new role to his duties. Hensley, who has coached the baseball Trojans for eight years with a 177-111 record and state tournament appearances in 2011 and 2015, is the school’s new athletic director. Hensley takes over for Steve Henry, now the school’s principal. “With coach Henry now the man in charge at our school,” ... (click for more)

Unbeaten Fairyland Clinches Red Division Swim Title

Members of the Calhoun swim team were set and ready to compete on the pool deck at the Fairyland Club Monday night, but they never got wet as the meet was postponed by lighting, thunder and the overall threat of stormy weather. They made the long trip back about 24 hours later and the second time around wasn’t nearly as productive as 21 less swimmers made the trip to the top ... (click for more)