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Top patient care performers are most profitable hospitals
Patients rank the most profitable hospitals as top performers for many metrics. Hospitals with high performance scores in patient care are more profitable, according to a new Press Ganey report. The top 25 percent of U.S. hospitals with the highest scores on the Hospital Consumer Assessment of Healthcare Providers and Systems (HCAHPS) question about performance were, on average, the most profitable and had the highest clinical scores, suggesting that patient experience, coupled with clinical outcomes, can mean financial profitability for the institution.
"It is interesting to note that the only hospitals that showed a positive profit margin were those that were highly rated by their patients," the report states. "...Although there is not a lot of difference in the clinical measures among the four groups of hospitals segmented on patient rating score, the top quarter of hospitals based on HCAHPS overall rating score also have the highest average clinical score. Taken together, these [results] suggest that excellence in patient experiences, clinical outcomes and financial profitability often occur together."
The work of CMS to improve quality of care is a doublel edge sword. Implementing these change increases operating expenses, leaving less capital and decreasing profits. Those hospitals who manage finances best experience a higher profit resulting in better scores.
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