Springfield, MA-–For the fourth consecutive year, Mercy Medical Center has been recognized as a Top 100 Community Value hospital by Cleverley + Associates (Columbus, OH), a leading health care 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 - 2013 Edition.
“Mercy Medical Center’s longstanding reputation for delivering high quality care at a reasonable cost has once again been independently confirmed with the presentation of both the Community Value 100® and Community Value Five Star® Awards. We are proud to be identified among the nation’s highest scoring facilities in measures of quality of care and costs for the fourth year in a row,” said Daniel P. Moen, President and Chief Executive Officer, Sisters of Providence Health System. “With an increasing focus on health care value and value-based purchasing of health care services driven by health care reform, providers are challenged to maximize their productivity and efficiency without sacrificing quality. These awards are further validation that Mercy Medical Center successfully meets those challenges.”
Written by William O. Cleverley, Ph.D., a noted expert in health care finance, the 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 US acute-care hospital industry over a three-year period (2009-2011).
For the tenth year, the 2013 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,” adds James Cleverley, co-author. “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.”