For the sixth consecutive year, Spencer Hospital has achieved quality and cost efficiency outcomes which exceed both state and national averages as reported through a Medicare quality initiative.
The Centers for Medicare and Medicaid Services developed its quality initiative, called the Value Based Purchasing Program (VBP), over many years to assess hospital performance across a range of clinical, patient safety, patient experience and cost efficiency measures.
“The methodology utilized by the Medicare program has increasingly emphasized linking payments to hospitals to overall value rather than the number of patients served,” explained Spencer Hospital President Bill Bumgarner. “This means quality outcomes and improvement efforts are measured and rewarded.”
To fund the VBP program nationally, all participating hospitals receive a 2% payment reduction for a specific range of Medicare services. Hospitals can earn the 2% back – partially or in full – and even a little extra for good outcomes. For the year ahead, Spencer Hospital earned back its 2% and will receive an additional 0.73 percent in payment for exceeding performance norms.
Earlier this year, Spencer Hospital was also recognized by the iVantage healthcare analytics organization as one of the nation’s Top 100 Rural & Community Hospitals. Spencer Hospital has received the recognition in each of the three years that iVantage has conducted this hospital assessment program.
“We hope the Top 100 designation coupled with the Medicare quality program outcome earns the confidence of our community and region for the quality of services provided by Spencer Hospital,” said Bumgarner. “I’m proud of the fine work of our exceptional medical staff and talented healthcare team to maintain such a consistent record of quality performance.”
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