Erlanger reports solid earnings for third quarter

Erlanger Health System

Erlanger Health System reported solid third quarter financial performance, with net income from operations of $8.4 million, better than a budget of $7.2 million.

The hospital system boosted admissions by 12.4 percent compared to the prior year and reported total income before interest, taxes, depreciation and amortization (EBITDA) of $34,771,475.

"Erlanger East is exceeding all expectations, our heart surgeries are up 61 percent, greater than the prior year - it was an exceptional third quarter, " Erlanger CEO Kevin Spiegel told members of the hospital's budget and finance committee Monday evening.

Erlanger East's opening in December added 79 more beds and four more operating rooms to the overall Erlanger system, which boosted income and admissions. "Erlanger East exceeded expectations by virtually tripling prior year volumes," Erlanger Chief Financial Officer Britt Tabor said in a statement for the board.