Monthly Archives August 2016

MD Anderson highlights Epic’s implementation for 77% drop in adjusted income

The Houston-based MD Anderson Cancer Center reported a 76.9% drop in its adjusted income for the 10 months ended June 30, a drop it attributes largely to its planned Epic EHR implementation. .

In his agenda book and the calendar of events for the University of Texas board meeting held on Wednesday and Thursday, the healthcare system reported a $ 405 million decline in adjusted income from the same period the previous year.

“The $ 405.0 million (76.9%) decrease in adjusted income… was mainly due to an increase in expenses combined with a decrease in patient income following the implementation of the new patient record system. Epic electronic health, “according to the diary.

The finance committee indicated that expenses had increased due to a higher number of full-time employees, which necessitated an increase in salaries, wages and salary costs; salary increases and increase in bonus sharing rates; depreciation charges related to the completion of several major projects; and other facilities and software management projects.

Additionally, the agenda mentions an increase in consulting expenses “primarily related” to its commissioning Epic, such as professional fees and services.

This isn’t the first time MD Anderson has pointed to his planned Epic implementation as a big part of the financial downturn. At a board meeting in May, the healthcare system said the costs of implementing Epic resulted in a 56.6% drop in adjusted revenue over the seven-year period. month that ended on March 31.

In both cases, the health system said it anticipated a “material impact on income and expenditure” as a result of the implementation.

“The post-implementation strategy will focus on clinical productivity and operational efficiency to return to normalized operations by the end of the year,” according to the report.

MD Anderson uploaded his Epic EHR in March.

More articles on finance:

5 Most Read Financial Stories: Week of August 22-26
Cutting back on low-cost healthcare could increase cost savings: 6 things to know
Oregon Healthcare Pricing Transparency Improves After Website Launch


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