By Staff Reports
(Victor Valley)– St. Mary Medical Center was recently recognized as a top ranked Community Value Provider by Cleverley & Associates. Cleverley & Associates, a leading healthcare financial consulting firm specializing in operational benchmarking and performance enhancement strategies, released the findings as part of its new publications: State of the Hospital Industry – 2014 Edition.
Written by William O. Cleverely, 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 US acute-care hospital industry over a three-year time period.
“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 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.”