BUDGET AT A GLANCE
Total net revenue: $621 million
Income from operations: $18.4 million
Bottom line (after interest expenses): $10.8 million
Capital budget: $25 million
Erlanger Health System trustees passed what the hospital CEO is calling an “aggressive” budget for the upcoming year, which includes a 2.2 percent increase in patients.
Hospital officials have budgeted to end the year with $18.4 million in revenues from operations, with a $10.8 million surplus on the bottom line.
It’s a contrast to a much more cautious budget last year, when the hospital was aiming for a $4.5 million deficit as it attempted to climb out of months of losses.
The budget includes about $19 million infusion in federal funds that the hospital just gained access to this year, but accounts for $10 million in cuts to reimbursements.
The budget includes $25 million in capital expenditures, including $8 million to put toward a new orthopedic specialty surgery wing and $3 million in upgrades to the hospital’s cardiac services.
The hospital is looking to end the 2014 fiscal year in much better shape than it budgeted for. It’s last budget figures were tracking toward a $17.5 million profit.
This year’s budget also included putting $2.7 million toward raises for bedside nurses, as part of a two-phase process, hospital officials have said.
Contact staff writer Kate Harrison at email@example.com or 423-757-6673.