Harnett County, N.C. (July 19, 2012) – Harnett Health Betsy Johnson Hospital was recently recognized as a top-ranked Community Value Provider by Cleverley + Associates (Columbus, OH). Cleverley + Associates, a leading healthcare financial consulting firm specializing in operational benchmarking and performance enhancement strategies, released the findings as part of its new publication: State of the Hospital Industry – 2012 Edition.
“This is great news for us and the citizens we serve,” said Harnett Health System President and Chief Executive Officer Ken Bryan. “We are excited to be a community value five-star hospital, and we’ll continue to work to provide healthcare services in a caring environment and in a manner that reflects quality, innovation and value. Not only does this show the hard work of the Betsy Johnson Hospital staff, but it also shines a light on the value that our new Central Harnett Hospital will provide. We will use the same cost structure, pricing and quality metrics at Central Harnett as we use at Betsy Johnson.”
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 US acute-care hospital industry over a three-year time period (2008-2010).
For the ninth year, the 2012 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.”