The rollout of the Epic electronic health records system contributed to a $55.1 million operational loss in fiscal 2012-13 for Wake Forest Baptist Medical Center, according to a financial report released last week.The Winston Salem Journal first reported that Wake Forest Baptist “did have a substantial negative impact on fiscal 2013 operating performance through both direct implementation expenses and associated indirect expenses.”
The reported $55.1 million operational loss stems from $53.7 million in indirect impact — $36.9 million of lost margin due to interim volume disruptions “during initial go-live and post go-live optimization;” and $16.8 million in other Epic-related implementation expenses.
The report filed on the Municipal Securities Rulemaking Board’s emma.msrb.org website, as was the second-quarter report for Novant Health Inc. did not disclose a direct cost of its Epic implementation. All of its medical groups have been transferred to Epic “under budget.” The center plans to launch Epic at its Presbyterian Medical Center in Charlotte in October and its four Forsyth County hospital facilities by August 2014.
Supported by Galloway Consulting, the center took the “big-bang” implementation approach that included its main campus and facilities going live on September 22. It also plans to implement Epic at its affiliated hospitals in Davie County and Lexington by June 30th. Dr. John McConnell, the center’s chief executive remains optimistic in Epic’s long-term benefit to the center.
For more information, see Winston Salem Journal article