Modern Healthcare July 26, 2017
Hospitals installing new electronic health record systems should expect a sizeable cash drain as the process disrupts business and adds technology and training expense, Moody’s Investors Service said in a report this week.
During the first year of EHR installations, the median decline in operating cashflow for hospital systems is 10% with a 6% fall off in days cash on hand, Moody’s said after examining system installs over the past several years. EHR installations can cost anywhere from several million dollars for a small, standalone hospital to half of a billion dollars for larger systems.
Moody’s found in looking at 39 recent launches that the installs can disrupt billing and patient throughput.
“Implementing new electronic medical record (EMR) systems carries...
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