September 19, 2016
Marshall Medical Centers was recently recognized as a top-ranked hospital by Cleverly + Associates. Cleverly + Associates, a leading healthcare financial consulting firm specializing in operational benchmarking and performance enhancement strategies, released the findings as part of its new publication: State of the Hospital Industry – 2016 Edition.
For the thirteenth year, the 2016 State of the Hospital Industry reports on its exclusive measure: 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 Five-Star (top quintile) hospitals – on which Marshall Medical Centers’ hospitals appear.
The topic of healthcare value is increasingly being discussed in the media. Recent in-the-news highlights about hospital performance and pricing have driven the dialog, yet left interested parties in the hospital industry looking for objective information regarding the issues. In response, the CVI was created to provide an assessment of a hospital’s performance in four areas:
1. Financial viability and plant reinvestment
2. Hospital cost structure
3. Hospital charge structure
4. Hospital quality performance
Fundamentally, the CVI suggests that a hospital provides value to the community when it is financially viable, is appropriately reinvesting back into the facilities, maintains a low cost structure, has reasonable charges – and- provides high quality care to its patients. Each of the four areas contains metrics that compare a hospital’s performance to an appropriate peer group.
Measurement in these areas suggest that hospitals operating with a high degree of community value are those that are low cost, low charge and use a strong financial position to reinvest back into the delivery of high quality patient care. The combined performance in each of the four areas is used to calculate the Community Value Index score. The hospitals with scores in the top twenty percent are designated as “Community Value Five-Star hospitals.
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Marshall Medical Centers
September 19, 2016
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The data used to derive this year’s CVI findings came from four sources:
1. 2014 Medicare Cost Report
2. 2014 Medicare Inpatient Claims
3. 2014 Medicare Outpatient Claims
4. 2011-2014 Hospital Compare Data
“It’s important to recognize that a large number of hospitals throughout the county may perform well in one or two of the core areas of the CVI. However, the hospitals that are afforded the distinction of “Community Value Five-Star” have achieved positive performance in each of the four measurement areas,” stated Gary Gore, CEO of Marshall Medical Centers.
We are delighted to make this announcement to our community and hope this designation translates into a strong confidence in the value Marshall Medical Centers brings to our community, in the investments we are making in our facilities and in our ability to deliver quality health care. ”