FOR IMMEDIATE RELEASE
For More Information:
Barbara Mackovic, Senior Manager
502.587.4230 or 502.641.5461
Flaget Memorial Hospital Recognized as a Five Star® Hospital
Award recognizes high-quality patient care, reasonable prices
Bardstown, Ky. (September 25, 2015) – Flaget Memorial Hospital, part of KentuckyOne Health, has again been recognized for the value it provides the Bardstown community with the recent designation as a Community Value Five Star® Provider by Cleverley + Associates. Flaget also received the distinction in 2013.
This acknowledgement recognizes the value a facility provides to the community by measuring financial viability, facility reinvestments, maintenance of a low-cost structure and high-quality patient care at reasonable prices. Flaget Memorial Hospital is part of a select group of hospitals that scored in the top 20 percentile among these performance areas.
“We’re deeply committed to and invested in the Nelson County community,” said Sue Downs, president, Flaget Memorial Hospital. “Providing excellent care at an excellent value is one important way that we bring wellness, healing and hope to all, including the underserved.”
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 - 2015 Edition.
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 U.S. acute-care hospital industry over a three-year time period (2011-2013).
For the twelfth year, the 2015 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.”
About KentuckyOne Health
KentuckyOne Health, the largest and most comprehensive health system in the Commonwealth, has more than 200 locations including, hospitals, physician groups, clinics, primary care centers, specialty institutes and home health agencies in Kentucky and southern Indiana. KentuckyOne Health is dedicated to bringing wellness, healing and hope to all, including the underserved. The system is made up of the former Jewish Hospital & St. Mary’s HealthCare and Saint Joseph Health System, along with the University of Louisville Hospital and James Graham Brown Cancer Center. KentuckyOne Health is proud of and strengthened by its Catholic, Jewish and academic heritages.
About Cleverley + Associates
Cleverley + Associates is a Columbus, Ohio-based healthcare data and consulting services firm specializing in custom data analyses and reporting for healthcare providers, consultants, and vendors. The company’s primary focus is to provide healthcare 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.