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

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

April 23rd, 2012 by Mariann Martin in Local - Breaking News

Erlanger Hospital is located on 3rd Street in Chattanooga.

Photo by Angela Lewis/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.