“We are proud of the efforts of our physicians and staff; they are responsible for our hospitals achieving this designation,” said Terri Kane, Vice President of Intermountain Healthcare’s Southwest Region. “These kinds of recognitions come to us because the people who work here really care about our patients. Our patients are friends and neighbors and we want to give them the very best, most compassionate care possible.”
The 2014 Healthstrong Hospitals scored best on the iVantage Health Analytics’ Hospital Strength Index. The index provides a comprehensive framework to compare hospital and market performance. It is comprised of a single overall performance rating, three category composite scores and ten pillars of performance: competitive strength, competitive intensity, market size and growth, population risk, cost, charge, quality, outcomes, patient perspectives and financial stability. iVantage aggregates hospital-specific data for 66 performance indicator variables and calculates each hosptial’s percentile rankings compared to all hospitals in the study.
Data from 4,299 hospitals across the nation were compared, the largest cohort of any nationally recognized hospital ratings initiative, including rural and critical access hospitals. Of those, 547 were performing at a level worthy of being identified as a Healthstrong Hospital. According to the study report, findings confirm the industry is advancing toward higher and better performance.
If all U.S. hospitals performed at the median level of Healthstrong Hospitals, $14 billion in savings could be realized from Medicare; $52 billion in savings could be realized from all healthcare payers, a 4.4% improvement in patient safety indicators and events could be realized; and nearly 4 million years of potential life lost would be saved.
“This year, iVantage modified the methodology and incorporated new sources of data, in order to better assess performance required to succeed in the new healthcare environment,” said W. Hudson Connery, Jr., President and CEO of iVantage. “With this more rigorous assessment and the most extensive number of hospitals studied in the United States, this should be a source of great pride for your community.”
For the first time iVantage measured the impact hospitas are making on the wellness of local communities – something not found in traditional hospital outcomes studies. If all U.S. hospitals were engaged in population wellness similar to Healthstrong Hospital populations, the following associations could be further realized: Better population health indicators are associated with stronger hospital financial performance; reducing ambulatory care sensitive condition admissions reduces Medicare payments from 7-10%; reduction of these types of admissions is associated with reduction of years of potential life lost; and an increase in hemoglobin A1C screenings (for diabetes) is also associated with a further reduction in years of potential life lost.
iVantage Health Analytics® is a privately held healthcare business intelligence and technology company. iVantage Health Analytics provides comparative healthcare analytics by integrating disparate market, clinical, operational, and financial data into a single platform for executive level business intelligence. For more information, visit www.iVantageHealth.com.