Erlanger swings to $6.4M profit in Q3

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Chattanooga, Tenn.-based Erlanger Health System ended the third quarter of fiscal year 2021 with a net income of $6.4 million, which compares to a $389,500 net loss in the same period one year prior, according to financial documents released April 27. 

The public hospital system saw its net revenue decline 6.2 percent to $260.6 million in the three months ended March 31. In the same period last year, Erlanger recorded a net revenue of $277.8 million. Net patient service revenue saw a 9.8 percent decline year over year to $244.5 million.

Erlanger's expenses decreased 7.8 percent year over year in the third quarter to $252.4 million. Erlanger attributed the decrease in the third quarter to a drop in supply and medication expenses as well as a decline in wages, salaries and benefits with labor management controls. 

Erlanger ended the third quarter of fiscal 2021 with an operating income of $8.1 million, up from $4.2 million recorded in the third quarter of fiscal 2020.

Access the full report here

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