St. Alexius Medical Center recently was recognized as a Community Value Five Star Hospital and a Community Value 100 Hospital by Cleverley + Associates, a leading healthcare financial consulting firm specializing in operational benchmarking and performance enhancement strategies. This is the second consecutive year St. Alexius has received this recognition. The findings are part of a new publication: State of the Hospital Industry – 2014 Edition.
Gary P. Miller, president and CEO of St. Alexius said, “The healthcare industry is rapidly changing. We understand the importance of adapting to its changing environment so we can continue to provide affordable, quality healthcare to our patients.”
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,” added James Cleverley, co-author. “In response, the CVI 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 suggest 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.”