Altru Health System named as a Community Value Index® Five-Star Hospital
Grand Forks, N.D – Altru Health System was recently named as a Community Value Index® Five-Star Hospital. The Community Value Index (CVI) ranking measures the financial value hospitals provide to the communities they serve.
The CVI provides a measure of value that a hospital provides to its community. The CVI is composed of ten measures that assess a hospital’s performance in four core areas: financial viability and plant reinvestment, hospital cost structure, hospital charge structure, hospital quality performance. Measurement in these areas suggest that hospitals operating with a high degree of community value are those that are low cost, low charge, and use a strong financial position to reinvest back into the provision of 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. Altru scored in the top 20 percent, thus designated as a Five-Star facility.
“The CVI provides a good overall measure of a hospital’s financial strength and performance in regards to cost and charges,” notes Dwight Thompson, Altru Health System chief financial officer. “We are pleased that this recognition as a CommunityValueIndexFive-StarHospital confirms Altru’s value to the community.”
According to the study, Five-Star hospitals are financially viable and a valuable asset in the community. 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 community members and third-party payers. Last, Five-Star hospitals strive for pricing that is reasonable and competitive with peer facilities.
About Altru Health System
Altru Health System is a community-owned, integrated system with an acute care hospital, a rehabilitation hospital, more than a dozen clinics in Grand Forks and the region, a large home care network, and a congregate living facility. It employs more than 200 physicians and 4,000 staff and has an annual net operating revenue of more than $500 million.