Erlanger Health System's operating expenses exceeded its revenue by about $1.07 million in the first quarter of its fiscal year, according to budget figures.
The system had budgeted revenues to be greater than operating expenses for the July through September 2011 quarter, and the first quarter of the previous fiscal year saw gains of nearly $39,000, according to financial statements.
However, Erlanger President and CEO Jim Brexler isn't worried about the numbers.
Brexler said after Monday's budget and finance committee meeting that the July through September quarter is historically the most challenging for the health system financially.
In the winter, there tend to be more hospitalizations because of illnesses related to colder weather, he said.
Month to month during the quarter there were fluctuations. After Erlanger saw gains in August, operating expenses were greater than revenue in September.
"We don't worry about the individual month," Brexler said.
Brexler compared the ups and downs in the monthly financial data to daily changes in stock prices.
The full Erlanger board will meet Thursday at 6:30 p.m. at the hospital.
related articles »
Erlanger Health System posted a nearly $730,000 surplus in October, Chief Financial Officer Britt Taber said in a budget and ...
Erlanger hospital employees have been asked to take 12 days off in the next two months, consider voluntary buyouts and ...
Erlanger hospital's board of trustees rejected a severance package worth about $727,000 in salary and benefits for outgoing CEO Jim ...
Erlanger Health System President Jim Brexler will resign from Chattanooga’s biggest hospital within the next several weeks, the hospital said ...