Erlanger Increases Local Market Share To 43%

Monday, January 21, 2019

Erlanger Health System has increased its market share in Hamilton County to 43 percent, CFO Britt Tabor said.

 

He said considering a 14-county area, Erlanger is at 35 percent.

 

Mr.

Tabor said overall the market had a volume growth of less than one percent last year. He said,   “We have achieved a new milestone in market share growth, particularly in a flat market.”  

 

He said, "There is less and less inpatient business and more and more outpatient."

 

In a reported to the board Budget and Finance Committee, he said Erlanger had $32.5 million of uncompensated care for the past quarter.

 

He said net income from operations for the quarter was $1.3 million. Total net loss for the quarter was just over $1 million.

 

Mr. Tabor said net patient revenue increased 12 percent for a total of $28 million more than the same three-month period last year.  This extensive net revenue growth, he said, continues the trend achieved in previous quarters. 

 

Erlanger’s net income from operations for the second quarter was $3.3 million greater than the prior year and almost half a million dollars over budget for this quarter at $1.3 million.

 

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $12.4 million last quarter versus $10.9 million budgeted and compared to $10 million for the same quarter last year.  “This quarter EBITDA results reflects a $2.4 million positive pick-up compared to prior year,” Mr. Tabor told trustees. 

 

Admissions were 2.5 percent higher than the second quarter last year and 8.1 percent under budget. Quarterly surgical inpatient volume was also 2.9 percent greater than last year and 8.3 percent under budget. Orthopedic inpatient surgeries at Erlanger were three percent greater than last year and 9.2 percent less than budget.  Neurosurgery inpatient surgeries were seven percent over budget and 3.4 percent less than last year.

 

Erlanger emergency room visits were the same as last year and 1.3 percent under budget.  Emergency room admissions were 20.5 percent more than the same period last year and 27 percent  greater than budgeted. Outpatient surgeries were 5.5 percent  more than prior year levels and consistent with budget.

 

Mr. Tabor reported that cardiac cath procedures for the system totaled 921 patients during this six-month period compared to 851 procedures during the same time last year, and were budgeted at 853.  

 

Erlanger’s commercial payor mix this quarter was 37 percent  compared to 33 percent  this same time period last year. Budgeted at 33 percent, this reflected a 12 percent  growth in commercially insured patients using Erlanger. These second quarter results represents one of the highest commercial payer revenues Erlanger has experienced in its history, Mr. Tabor said.. 

 

For the quarter, $4 million was recognized for disproportionate share payments.

 

In addition, days cash on hand continues to improve as the revenue cycle moves toward stabilization from the $100 million Epic automated record keeping system installation, Mr. Tabor said..   

 


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