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October 23, 2009 -
Cleverley + Associates once again recognized Olympic Medical Center as a top-ranked “Community Value Provider” for the sixth year in a row. Cleverley surveyed nearly 2,643 hospitals in 2009, and Olympic Medical earned the Five-Star distinction by finishing in the top 20 percent.
“We are proud to receive this recognition year after year since we strive so hard to sustain relatively low health care charges while maintaining high quality care,” says Eric Lewis, chief executive officer, Olympic Medical Center. “We continue to place financial stewardship in very high regard.”
Cleverley + Associates, a leading health care financial consulting firm, released the findings as part of its publication State of the Hospital Industry, 2009 edition. This publication reports the “Community Value Index™” (CVI), which measures the value a hospital provides to its community. A hospital’s performance is assessed in three areas:
• Financial strength and reinvestment
• Cost of care
• Pricing
The CVI suggests hospitals that are low cost, low charge and use financial resources efficiently for reinvestment back into hospital services are operating with a high degree of community value. The CVI score demonstrates a hospital’s performance benchmarked against other facilities that share similar operating conditions.
Utilizing CMS Data
In the case of cost of care and pricing, the CVI utilizes CMS (Medicare) data. These databases are used by the CVI as they provide a reflection of an inpatient cost – a hospital with high costs for Medicare patients will likely have high costs for non-Medicare patients. Medicare, representing the largest patient population nationwide, covers up to an estimated 55 percent of patients seen at Olympic Medical Center.
Olympic Medical Center is a comprehensive health care provider for more than 70,000 residents of Clallam County. It provides inpatient services at its 126-bed acute care facility, and outpatient services, including cancer care, cardiac services, imaging, surgical services, rehabilitation therapy, laboratory and home health at locations throughout the Olympic Peninsula region. For more information call 417-7000 or visit us at www.olympicmedical.org.
ABOUT CLEVERLEY + ASSOCIATES
Cleverley + Associates is a Columbus, Ohio-based health care data and consulting services firm specializing in custom data analyses and reporting for health care providers, consultants and vendors. The company’s primary focus is to provide health care providers with solutions and recommendations that will enhance their financial performance through better pricing decisions, improved coding, capital restructuring, cost and productivity enhancements, and / or investment management changes. For more information, call Cleverley + Associates at (888) 779-5663 or visit www.cleverleyassociates.com.
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