Parkway Medical Center ranks 28th in the Top 100 Hospital Value Index

Sep 17 2009

Parkway Medical Center has been named a Top 100 Hospital™ by the 2009-2010 Hospital Value Index™, according to an independent national study of hospitals across the U.S., officials announced today.

Conducted by Data Advantage, LLC, the nation’s leader in measuring healthcare value, the study ranked Parkway among the top 1% of all hospitals nationwide, achieving high marks in quality, affordability, efficiency and patient satisfaction.

Specifically, the Hospital Value Index™ recognized Parkway in the following categories:

• Top 100 Hospital™ (Parkway ranked #28 in the nation.)
• Hospital Value Index™: Best Kept Secret
• Best in Value™ : Quality, Affordability & Efficiency, and Satisfaction
• Best in Value™: Superior Quality Merit Award
• Hospital Value Index™: Best in Region
• Hospital Value Index™: Best in State

"We are extraordinarily proud of these honors at Parkway, as they reinforce our commitment to providing quality care affordably," said Tim McGill, CEO of Parkway. “Our physicians and employees strive each day to make our hospital the leader in quality care, and these awards are a testament to their dedication and achievement of their goals.”

Value is a significant element in healthcare reform discussions in D.C., as policymakers call for a move toward Value-Based Purchasing, an initiative that would eventually reimburse hospitals and physicians based on the overall value of the healthcare that they deliver.

The Hospital Value Index™ is the first and only performance indicator to focus on the value hospitals provide to their communities and utilizes the latest publicly available data, including Hospital Compare from July 2009, to recognize these accomplishments.

“Value is increasingly important to patients and consumers who decide which hospital they will access for care,” said Hal Andrews, CEO of Data Advantage. “The Hospital Value Index™ is the first award to recognize those hospitals providing exceptional value of care to their communities, and Parkway has achieved great results.”

The Hospital Value Index™ evaluated 4,500 hospitals and ranked approximately 3,000 general acute-care hospitals, serving approximately 30.1 million consumers. It defines a hospital’s “value” by its success in four critical areas:

• Quality, including CMS’s Core Measures, patient safety and readmission rates;
• Efficiency, including the relative measure of the cost to the hospital for providing services
• Affordability, a relative comparison of prices charged for inpatient and outpatient services; and
• Patient satisfaction as measured by Hospital Consumer Assessment of Health Plans Survey (HCAHPS).

The full Hospital Value Index™ study and list of findings can be found at www.HospitalValueIndex.com.

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