published Monday, April 23rd, 2012

Erlanger lost $4 million in March, biggest loss this year

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    Erlanger Hospital is located on 3rd Street in Chattanooga.
    Photo by Angela Lewis /Chattanooga Times Free Press.

Erlanger Health System lost more than $4 million in March, the greatest single month loss this fiscal year and is on track for significant losses in April, according to hospital officials.

Interim CEO Charlesetta Woodard-Thompson told the finance committee tonight that “time is of the essence” in turning around the hospital’s finances. Total losses since the beginning of fiscal year 2012 in June are more than $17 million.

Woodard-Thompson asked the finance committee if they would consider a proposal to hire an outside professional consulting firm. She told trustees she would present the proposal at Thursday’s monthly board meeting.

Losses in March were partially due to staff layoffs in March, which cost the hospital about $900,000 in one-time severance pay.

But admissions, inpatients surgeries and overall revenues were all down.

Woodard-Thompson said doctors have not returned to the hospital in the expected numbers since the resignation of former CEO Jim Brexler.

about Mariann Martin...

Mariann Martin covers healthcare in Chattanooga and the surrounding region. She joined the Times Free Press in February 2011, after covering crime and courts for the Jackson (Tenn.) Sun for two years. Mariann was born in Indiana, but grew up in Pennsylvania, Tennessee and Belize. She graduated from Union University in 2005 with degrees in English and history and has master’s degrees in international relations and history from the University of Toronto. While attending Union, ...

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