Chief Nursing Executive Jan Keys, left, leaves the emergency department with Erlanger CEO Kevin Spiegel during her Friday rounds.WITHIN 5 YEARSErlanger’s final audited financials since 2009:2009 — $3.1 million gain2010 — $4.3 million gain2011 — $899,000 loss2012 — $16.7 million loss2013 — $14.3 million lossErlanger’s level of uncompensated care since 2009:2009 — $74.1 million2010 — $82.2 million2011 — $83 million2012 — $85.5 million2013– $85.1 millionDays cash-on-hand:Measures the number of days that the organization could continue to pay its average daily cash obligations with no new cash resources becoming available. High values imply higher liquidity, and hence are viewed more favorably by creditors.As of February 2014 — 662009 — 117Source: Erlanger Health System
Among public hospitals throughout the country, Erlanger Health System provides the greatest amount of safety-net care for the least amount of local government funding, a national public hospital association has determined.
“I’ve never seen anything quite like it — just the lack of support versus the huge size of mission,” said Dr. Bruce Siegel, the president of America’s Essential Hospitals, a national advocate for public hospitals that tracks their funding.
While the average public hospital tracked by the organization receives $121 million from local governments, Erlanger’s $1.5 million from Hamilton County is the only local public funding it can pit against what is expected to be $92 million in regional uncompensated care this year alone.
Most hospitals receiving minimal local funds can turn to federally backed state funds meant for safety-net care. But Tennessee lost access to those dollars at the end of last year.