Richard Park, director of the nonprofit healthcare department for Fitch, told the publication that hospitals tend to see a dip in revenues due to new EHR implementations.
But Mr. Park said that “being able to properly document code and bill for services rendered is an essential part of your business model, and not being able to do so properly would be a critical business risk.”
This comes after the health system was downgraded by Fitch to “BB-” and placed on a negative rating watch due to “sizable fiscal 2022 operational losses.”
According to Fitch, the health system’s Cerner EHR contributed to its ongoing cost pressures that led to its two-notch downgrade from “BB+.”
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