Waukon, Iowa-based Veterans Memorial Hospital is taking a financial loss from a recent Epic EHR implementation, the Waukon Standard reported.
The 25-bed critical access hospital went live June 14 with Epic for a cost of $3.88 million, with the EHR supplied by Iowa City-based University of Iowa Health Care through its Community Connect program.
Veterans Memorial Hospital ended July with a loss of $430,135, which included about $500,000 for the Epic implementation that had already been paid out and couldn’t be capitalized, according to the Aug. 13 story.
“If we take that out, we had a $70,000 positive bottom line,” hospital CEO Michael Coyle said at a July board of trustees meeting covered by the Standard. “From a true profit and loss off of operations, it was better than a break-even month. Things are heading in a favorable direction for us.”
The Epic software itself is capitalized over seven years, Mr. Coyle said at the meeting, according to the news outlet. He told Becker’s in June that the new EHR will more than pay for itself through improved revenue capture and population health.
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