Erlanger Health System ended fiscal year 2016 with net income of $25.4 million. Although the Chattanooga, Tenn.-based system's net surplus was down nearly 32 percent year over year due to higher expenses, the system will give bonuses to 3,700 employees, according to The Chattanoogan.
Excluding management and physicians, regular full-time and part-time employees who were hired prior to Jan. 1 and are not on disciplinary probation will receive the $400 bonus. Erlanger CFO Britt Tabor said the employees will receive the bonus in early October, according to the report.
Regarding the employee bonuses, Erlanger President and CEO Kevin Spiegel said, "I am pleased we are able to continue to build a financially stable organization that enables us to reinvest in our associates, in Erlanger, our community and those we serve," according to the report.
In FY 2016, the system's operating revenue climbed to $111.4 million, up about 15 percent from the year prior. Erlanger said admissions were up 7.5 percent year over year, according to the report.
Erlanger had several high expenses in FY 2016, including costs associated with installing an Epic EHR system.
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