High-Quality Health Care Doesn’t Have to Be Expensive
Cone Health Recognized as a Community Value Five-Star® Hospital by Cleverley+ Associates
High-quality health care doesn’t have to be expensive. Cone Health has been recognized for being in the top 20 percent when it comes to providing value in health care. Cone Health has been named a Community Value Five-Star® Hospital by Cleverley + Associates (Columbus, OH). Cleverley + Associates is a leading health care financial consulting firm specializing in operational benchmarking and performance enhancement strategies. Its findings were released as part of the Cleverly + Associates publication: State of the Hospital Industry - 2016 Edition.
“The same strategy we use to improve the quality of health care at Cone Health in many instances reduces its cost,” says Cone Health Chief Medical Officer Bruce Swords, MD, PhD. “Working with physician offices on preventing illness and in helping people better manage diabetes, high blood pressure and other chronic illnesses helps avoid expensive hospital stays. Avoiding complications while in the hospital reduces costs. Helping patients better understand their care so they don’t have to come back to the hospital after going home, that adds value too. It is easy to see that high-quality care is usually high-value care.”
For the 13th year, the 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 Five-Star (top quintile) hospitals.
The publication focuses on the U.S. acute-care hospital industry over a three-year time period (2012-2014).
“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.”