Mercy Medical Center again recognized as Top 100 Value Hospital
SPRINGFIELD – For the third consecutive year, Mercy Medical Center has gained recognition as a Top100 Community Value hospital by Cleverley + Associates (Columbus, Ohio), a leading healthcare financial consulting firm specializing in operational benchmarking and performance enhancement strategies. Mercy’s designation is noted in the independent organization’s recent publication, State of the Hospital Industry - 2012 Edition.
“Mercy Medical Center is again honored to receive both the Community Value 100® and Community Value Five Star® Awards,” said Daniel P. Moen, president and chief executive officer, Sisters of Providence Health System. “These awards provide independent validation and additional confirmation that Mercy is one of the nation’s highest scoring facilities in measures of the delivery of high quality care at a reasonable cost.”
“As a consistent provider of high quality care, Mercy Medical Center demonstrates that such care is ultimately less expensive because it results in better patient outcomes and fewer hospital readmissions,” Moen continued. “And these factors are increasingly important as consumers and employers seek out the best value for their health care dollars.”
Written by William O. Cleverley, a noted expert in healthcare finance, State of the Hospital Industry reports selected measures of hospital financial performance and discusses the critical factors that lie behind them. The publication focuses on the U.S. acute-care hospital industry over a three-year period (2008-2010).
For the ninth year, the 2012 State of the Hospital Industry reports an exclusive measure developed by Cleverley + Associates: the Community Value Index® (CVI). The CVI is a proprietary index created to offer a measure of the value that a hospital provides to its community. The book outlines the data used to calculate the CVI as well as provides a list of the Top 100 and all Five-Star (top quintile) hospitals.
“The topic of hospital value is increasingly being discussed. Issues of pricing and community benefit have been well-publicized but little has been offered to measure the broad scope of value,” said James Cleverley, co-author of the report. “In response, the Community Value Index® was created to provide an assessment of a hospital’s performance in four areas: financial strength and reinvestment, cost of care, pricing, and quality.
“Fundamentally, the CVI suggests that a hospital provides value to the community when it is financially viable, is appropriately reinvesting back into the facility, maintains a low cost structure, has reasonable charges, and provides high quality care to patients,” James Cleverley said.