Park Ridge Health is honored to announce Cleverley + Associates has recognized it as a top-ranked Community Value Provider for the third year in a row. The group awarded Park Ridge Health the Community Value 100 Hospital and the Community Value Five Star Hospital recognitions for 2016.
Based on its Community Value Index® score, Park Ridge Health has ranked as one of the best 100 hospitals in the nation in terms of the value that it provides to our community.
The State of the Hospital Industry - 2016 Edition highlights hospitals that operate with a high degree of community value and suggests those hospitals maintain low costs, low charges and use a strong financial position to reinvest back into the provision of care at the facility.
"Providing the highest quality care at the best value for our community is a leading goal for Park Ridge Health," said Jimm Bunch, CEO of Park Ridge Health. "To have those efforts recognized in a measurable national ranking such as this is an honor for every member of our team."
Cleverley + Associates, a leading health care financial consulting firm specializing in operational benchmarking and performance enhancement strategies, developed the Community Value Index® score to assess the U.S. acute-care hospital industry.
The CVI is composed of ten measures that assess a hospital's performance in four areas:
Each area contains metrics that compare a hospital's performance to an appropriate peer group. The combined performance in each area is the Community Value Index® score.
Those hospitals with scores in the top 20% are designated as "Community Value Five-Star®" facilities. A subset of this group is the "Community Value 100®" which contains the highest scoring facilities in the country.
"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," said 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."
Cleverly also says it is important to recognize a large number of hospitals may perform well in one or two of the core areas of the CVI; however, those hospitals, such as Park Ridge Health, that are part of the Community Value 100® and Community Value Five-Star® groups, have achieved strong performance in each of the four areas
"Park Ridge Health has a proven track record of keeping quality at the forefront of our care for patients," said Jason Wells, COO of Park Ridge Health Physician Enterprise. "We blend this quality with a consistent practice of reinvesting in not only our facility, but also in our community. This is what makes earning both Community Value Index® awards such an honor. These awards will serve as an inspiration for Park Ridge Health as it continues to seek opportunities to invest in the people we care for and work with in our communities across Western North Carolina."
Park Ridge Health's dedication to quality and best practice protocols is evident in its recent announcement of its partnership with CHESS, one of the largest Accountable Care Organization in the North Carolina. This new relationship will establish Park Ridge Health as the anchor for the new ACO in the western part of the state. In that role Park Ridge Health will be part of the resources building on best practice protocols. This relationship will allow Park Ridge Health to expand its strong foundation of Population Health Management efforts to help people become and stay healthy.