Hospital recognized for cost, quality and value - Cone Health

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Published on July 01, 2010

Hospital recognized for cost, quality and value

The Moses H. Cone Memorial Hospital has been recognized as one of the top 100 hospitals in the nation in terms of the value it provides to the community.

The ranking comes from Cleverley + Associates, a leading healthcare financial consulting firm specializing in operational benchmarking and performance enhancement strategies. The group released the findings as part of its new publication: State of the Hospital Industry - 2010 Edition.

“Each day we work very hard on being a leader in quality, service and cost,” says Tim Rice, President and CEO, Moses Cone Health System. “This recognition shows how that work pays off for our patients and our community.”

Written by William O. Cleverley, Ph.D., a noted expert in healthcare 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 U.S. acute-care hospital industry over a three-year time period (2006-2008).

For the seventh year, the 2010 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.”

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