August 11, 2008
FOR IMMEDIATE RELEASE
CONTACT: Cheri Russum, 425-304-0591, cheri.russum@Providence.org Everett WA – Thomson Reuters today released its annual study identifying hospitals that demonstrated the fastest, most consistent improvement in the nation over five consecutive years. Providence Regional Medical Center Everett was the only hospital in Washington State to be named to that list. The study — Thomson Reuters 100 Top Hospitals®: Performance Improvement Leaders, 5th Edition — examined the performance of more than 2,800 U.S. hospitals on a variety of clinical, financial, operational and patient safety criteria to identify the 100 winners.
Also this year, Providence Regional was named to the 100 Top Cardiovascular Hospitals and overall 100 Top Hospitals lists in addition to the 100 Top Hospitals Performance Improvement Leaders list. “Being named to the 100 Top Hospitals Performance Improvement Leaders list by the Thomson Reuters organization is like winning the final race in the triple crown of healthcare,” says David Brooks, CEO, Providence Regional Medical Center Everett . “With only four hospitals out of nearly 3,000 earning this 100 Top Hospital status in all three categories, Providence Regional is in a very elite group of high-performing hospitals nationally. These awards are a reflection of our high caliber physicians, nurses and staff who are passionate about providing the best quality care to the patients they serve,” says Brooks.
The study rated hospitals on eight factors — patient mortality, medical complications, patient safety, length of stay, expenses, profitability, cash-to-debt ratio, and use of evidence-based medicine. Researchers evaluated 2,867 short-term, acute care, non-federal hospitals grouped into five categories: major teaching hospitals, other teaching hospitals, large community hospitals, medium-sized community hospitals, and small community hospitals.
The study analyzed publicly available Medicare cost reports, Medicare Provider Analysis and Review data, and the Centers for Medicare and Medicaid Services’ Hospital Compare data set. It found that the 100 Top Hospitals: Performance Improvement Leaders:
• Had fewer than expected patient deaths and adverse safety events
• Increased expenses only 2.5 percent during the five-year study period, on average, compared with a 17.4 percent increase among their peer hospitals.
• Increased profit margin from less than 1 percent to 6.9 percent
• Reduced average length of stay by nearly a day, despite greater severity of illness
To learn more about the 100 Top Hospitals study, visit www.100tophospitals.com
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