Erlanger Health System posted its fifth consecutive quarter with a positive income from operations despite the ongoing COVID-19 crisis and an industrywide struggle to bring patient numbers back to pre-pandemic levels.
Erlanger’s net income from operations for the quarter that ran from January through March was around $8.15 million, compared to a budgeted income of about $7.98 million and prior year income of $4.2 million, according to the hospital’s latest financial report released Monday.
The health system outperformed the budget despite admissions falling nearly 28% below budget and 11.4% under the prior year.
Erlanger CEO Will Jackson said during the board’s budget and finance committee meeting Monday that the hospital was able to keep on its streak of positive financial performance due to expense management and growth in outpatient services. Although admissions were lower than projected, March 2021 saw more admissions than any month in the past calendar year.
Erlanger’s income included $5.2 million in federal relief funds given to hospitals to offset costs of the pandemic.