WakeMed Health & Hospitals posted a $3 million first quarter operating income and just announced it took its new electronic health records system live.
The Raleigh-based hospital system recorded $269 million of total revenue systemwide and an operating income of $3.3 million for the quarter ended Dec. 31, the hospital’s first quarter of its fiscal year. When combined with non-operating gains, largely from investments, the hospital system recorded a $7.1 million net income, according to unaudited information filed for bondholders.
In addition, the hospital took another step toward a $100 million project to update its electronic health records keeping by taking the new system, called Epic, live. Although it requires big upfront costs, health care experts see a more integrated records keeping system as a big way to save money in the health care system. Ideally, this will allow a disparate set of providers to gain better access to a patient’s full medical history, cutting down on duplicative tests and giving doctors better access to more complete information.
Both Duke Health and UNC Health Care used the software developed by Wisconsin-based Epic Systems to update their electronic record keeping as well. Hospitals have seen a short-term hit in productivity as staff acquaint themselves with new programs, but those have generally been short-lived as staff become accustomed to the new software.
The new system also comes with a portal for patients to more quickly access their information. Using MyChart, many WakeMed patients can review test results, visit summaries, and request appointments and prescription refills.
