Fairfield Medical Center posts $22.6M operating loss from medical records overhaul

Fairfield Medical Center ended 2018 with a $22.8 million operating loss, which the CFO sees as a one-time anomaly due mainly to the expense of installing and activating a new electronic medical records system. Full-year revenue declined by less than 1 percent to $282.4 million, while expenses rose by 7 percent for the Lancaster health system. Declining outpatient volume and a spike in drug costs also were factors. "The system has enough reserves that one-time investments can occur," CFO Sky Gettys…
Source: bizjournals.com Health Care:Physician Practices headlines - Category: American Health Authors: Source Type: news