Providence Little Company of Mary Medical Center San Pedro Named One of California’s 10 Best Value Hospitals
May 18, 2015
Providence Little Company of Mary Medical Center San Pedro has been recognized as one of California’s 10 Best Value Hospitals for 2014 by Verras Healthcare International, LLC. The Best Value Hospital recognition is determined using the Verras’ patented Medical Value Index, a data tool developed by William C. Mohlenbrock M.D., FACS, founder and chief medical officer, to identify best value practices in hospitals nationwide.
“Being recognized as one of California’s 10 Best Value Hospitals speaks to the excellence of care we deliver,” said Liz Dunne, chief executive, Providence South Bay Community. “This is truly a testament to the dedication of our medical staff and caregivers to consistently provide high quality healthcare that is efficient and cost-effective.”
The Best Value Hospital award was created to bring public recognition to hospitals delivering best value to their patients. Knowing which California hospitals deliver the greatest value empowers consumers to identify hospitals that deliver better outcomes at lower cost and provides payers data to help them lower the cost of healthcare for their companies.
The Medical Value Index uses a patented algorithm to process data provided by the hospitals themselves based on six widely-recognized healthcare metrics: national quality measures, readmission rates, mortality, morbidity, reduction in variation, and resource consumption. Every hospital in California with more than 250 beds was considered in the ranking process.
“Value is what we pay for in every area of our lives,” said Dr. Mohlenbrock. “It should be the same in medicine. The challenge has always been to determine how to measure value in healthcare. With the methodology used in the Medical Value Index, we have identified the essential features for measuring healthcare value. This has enormous implications for patients and payers throughout the country.”
“We congratulate Providence on their notable accomplishment of achieving Best Value Hospital status,” said Dennis Patterson, Ed. D., chairman of Verras Healthcare International. “We are here to empower consumers and self-insured employers to make educated healthcare purchases based on very complex set of data that adds up to a very simple concept: value in healthcare.