Temple University Health’s $5.7M operating loss anchored by Epic installation


https://www.beckershospitalreview.com/finance/temple-university-health-s-5-7m-operating-loss-anchored-by-epic-installation.html

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Philadelphia-based Temple University Health System reported an operating loss in the 12 months ended June 30, largely due to costs associated with the implementation of an Epic EHR system, according to recently released bondholder documents.

Temple University Health System reported revenues of $1.75 billion in fiscal year 2017, up from $1.64 billion in the year prior. Although the system reported revenue growth, rising expenses offset those gains.

The increase in expenses was largely attributable to higher than expected staffing costs related to the Epic EHR implementation. The health system spent $15.1 million on staffing needs related to the Epic go-live.

Temple University Health System Senior Vice President, Treasurer and CFO Robert Lux told The Inquirer the higher staffing costs were necessary, as it was vital “to give all the physicians and nurses all the right kind of elbow-to-elbow support they needed for there to be a smooth clinical implementation.”

The system ended the most recent fiscal year with an operating loss of $5.76 million, compared to an operating surplus of $4.36 million in the year prior.

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