Wake Forest Baptist Feels Financial Impact Of Epic Adoption

Still working to recover from operating losses associated with implementing Epic EHR system into Wake Forest Baptist Medical Center, the head of the healthcare organization remains optimistic that the decision to go and stick with Epic will pay off in the long run.

Owen Covington of The Business Journal is reporting that third-quarter results for Wake Forest Baptist show an operating loss of $62.8 million. As of the end of its third quarter, the organization saw $1.2 billion in net patient revenue, which is close to $20 million less than last year’s figure.  The operating loss of $62.8 million year-to-date varies dramatically from the net operating gain of $38.9 million just one year ago.

Although the center’s CFO Ed Chadwick told participants in an investors call that the third quarter showed improvements over the second quarter with a positive trend continuing in the fourth quarter, the turnaround can be attributed to strategic cost-cutting efforts and investments.