Electronic Records Conversion Loss of 55.1 Million For Wake Forest Baptist

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 Thursday. The center’s fiscal year ended June 30. The center said the report is unaudited and preliminary. A final audited report will be released in November...

Wake Forest Baptist said in the report that Epic implementation “did have a substantial negative impact on fiscal 2013 operating performance through both direct implementation expenses and associated indirect expenses.” ...

Wake Forest Baptist reported having $16.8 million in direct Epic expenses, an increase of $2.9 million from March 31. Where the main Epic-related blow to the center’s finances came was in $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.