Erlanger Continuing Unprecedented Earnings, Market Share Growth

Monday, September 25, 2017

Erlanger Health Systems continues on a roll - earning a profit of almost $10 million in the last fiscal year and upping admissions over nine percent.

Britt Tabor, chief financial officer, said fiscal year 207 "continued the extremely strong growth in admissions and market share."

He added, "We continue to shine in market growth," which he said in former years stayed at around the same level.

Mr. Tabor said the hospital achieved the milestones even after providing $110 million in charity care (costs). That is a new record.

Kevin Spiegel, president, said, "I couldn't be more proud of our team."

Mr. Tabor said the opening of the Erlanger East Hospital on Gunbarrel Road "exceeded expectations with admissions greater than 34 percent over budget."

The surgical inpatient volume was up 11.2 percent. Inpatient heart surgeries were 49.7 percent greater than prior year. Mr. Spiegel noted that is before the opening of the Heart and Lung Institute at Erlanger North in Red Bank.

Orthopedic inpatient surgeries were 19.6 percent greater than the prior year, and neurosurgery inpatient surgeries were up 8.9 percent.

Officials said the implementation of the new EPIC medical record system among the physicians did not bring an increase in accounts receivable as sometimes happens. The next push will be to install the system in the rest of the hospital.

Doug Arnold, of the Knoxville firm that audits Erlanger, said the hospital received a clean opinion.

The Pershing Yoakley & Associates official said, as a result of the audit, "No significant adjustments were proposed to the Primary Health System."

 



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