Bozeman Deaconess Hospital has earned a 2013 Five-Star Award for Community Value for scoring in the top 20% among more than 1400 similar hospitals nationwide in an evaluation by Cleverley + Associates, a leading healthcare financial consulting firm.
The Community Value Index, created in 2003 to provide a measure of the value that a hospital provides to its community, assesses a hospital's performance in four key areas: financial viability and plant reinvestment, hospital cost structure, hospital charge structure and hospital quality performance.
“Being named a five-star hospital in community value for the fifth time is a tremendous achievement,” said Kevin Pitzer, President and Chief Executive Officer at Bozeman Deaconess Health Services. “This is national recognition that Bozeman Deaconess strives to provide the best quality of care possible, while keeping healthcare costs down.”
The Community Value Index 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 with reasonable charges and provides high quality care to patients. “A hospital must be financially viable in order to be a valuable asset in the community,” added Gordon Davidson, VP Finance and Chief Financial Officer. “A strong financial position is essential in order for us to continue our mission to improve community health and quality of life.”
In addition, the hospital has proven its commitment to reinvesting in its facility, as with the newly expanded Emergency Services Department. “We believe it’s important to reinvest in our facility to provide for current and emerging health needs in our community,” Pitzer said.
In making the announcement, James O. Cleverley stated, “Your inclusion in the Community Value Leadership Award group speaks to the great value that you provide to those in your community. As value is increasingly discussed nationally, the Community Value Index® has provided an objective assessment of the relative value a hospital provides. In the end, your accomplishment provides evidence that you are operating efficiently, charging reasonably, and providing high quality services. In addition, you are reinvesting to continue great care in your community.”
Bozeman Deaconess Hospital previously earned this Five-Star Award in 2007, 2008, 2009, and 2010.