GHS Earns Designation as Community Value Five-Star Hospital
Granville Health System was recently named to the Community Value Five-Star hospitals list. The Community Value Index (CVI) ranking measures the financial value hospitals bring to their service areas and places Granville Health System within the top 20% of hospitals in the United States in providing financial value to the communities they serve.
CVI contains four core areas of evaluation: financial viability and plant reinvestment, cost structure, charge structure and quality performance. Measurement in these areas suggests that hospitals operating with a high degree of community value are those that have low costs, low charges, and use financial resources efficiently for reinvesting back into the provision of health care at the facility. Each area contains metrics that compare a hospital’s performance to an appropriate peer group. The combined performance in each area is the Community Value Index score.
According to the study, Five-Star hospitals are financially viable and a valuable community asset. Hospitals must also reinvest back into the facility to provide for current and emerging health needs in the community. Appropriately combining these concepts enhances a hospital’s value to the community. Also, Five-Star hospitals keep costs low to allow for lower costs for area residents and third-party payers. Lastly, Five-Star hospitals strive for pricing that is reasonable and competitive with peer facilities.