NYC Health + Hospitals selected Epic's revenue cycle product to improve its financial picture.
The health system estimates Epic's RCM offerings will help the organization capture an additional 5 percent of adjusted patient revenue — or up to $142 million in revenue, based on fiscal year 2016 patient volume, according to a news release. NYC Health + Hospitals said it will integrate the new technology with the Epic patient EMR system and aims to "create a common platform for all the health system's providers."
Overall, the health system plans to invest $289 million over the next five years for system implementation at its 11 hospitals, five long-term care facilities and more than 70 community-based health centers, according to the release. The release states the City of New York pledged to pick up $150 million of the cost, while NYC Health + Hospitals will invest $139 million, pending the board's OK.
The health system expects to begin rollout of the integrated platform in the fourth quarter of 2018, with the integrated revenue cycle and EMR suite expected to be fully completed in the last quarter of 2020.
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