Temple University Health System's finances improve as Epic install costs shrink

Philadelphia-based Temple University Health System saw its financial position improve in the 12 months ended June 30, according to recently released unaudited financial documents.

The health system reported revenues of $1.84 billion in fiscal year 2018, up from $1.75 billion in the year prior. The increase was attributable in part to higher net patient service revenue. Temple said inpatient revenue grew year over year due to increased acuity and improved payer mix at Temple University Hospital, and that higher outpatient revenue was attributable to growth of TUH's outpatient pharmacy and higher outpatient volumes.

The health system's operating expenses climbed 4.7 percent year over year to $1.83 billion in fiscal year 2018. Higher expenses related to supplies, pharmaceuticals, salaries and faculty support primarily drove the growth. However, those expenses were partially offset by lower costs attributed to TUH's implementation of the Epic EHR system that took place in fiscal year 2017. The health system said it spent $15.1 million in fiscal 2017 on staffing needs related to the Epic go-live.

The health system ended the most recent fiscal year with operating income of $17.23 million, compared to operating income of $471,000 in the year prior, according to the financial documents. 

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