Washington DC – February 3, 2015 – iVantage Health Analytics, Inc. today joined the National Rural Health Association (NRHA) and other rural health advocacy and research organizations at the Rural Health Policy Institute to educate policy makers on the challenges facing rural hospitals, highlighting the impact on the economy should the rural hospital closures escalate.
Michael Topchik, senior vice president of iVantage, will present key findings at the Policy Institute regarding hospital closures and recently commented, “Forty-seven rural hospitals have closed since the beginning of the decade. In October, iVantage leveraged the Hospital Strength INDEX to evaluate these 47 hospital closures and developed the Vulnerability Index™ with NRHA. We noted that 283 additional rural hospitals located across the country may face significant challenges due to sequestration, decreased volume, a 35% cut in uncompensated care, and a 25% cut in DSH payments to rural hospitals and are now vulnerable to closure. These 283 hospitals represent 700,000 patient encounters and their closure would result in the loss of 36,000 healthcare jobs, 50,000 community jobs, and a $10.6 billion loss to the GDP. ”
The Hospital Strength INDEX is the industry’s most comprehensive ratings system, leveraging publically available data to measure more than 4,334 acute care hospital markets, including 1,300 Critical Access Hospitals. Hospitals are measured across nine equally weighted pillars of performance, encompassing 56 different metrics: Outpatient Market Share, Inpatient Market Share, Population Risk, Cost, Charge, Quality, Outcomes, Patient Perspective, and Financial Stability. The combined scores across each pillar determine a hospital’s overall INDEX. More information about the study findings, including a new infographic, can be found at www.ivantageINDEX.com.
The 2015 Hospital Strength INDEX has just been updated and the methodology has evolved to include new dimensions of behavioral health and outpatient services, critically important in the new healthcare. iVantage will continue to evaluate the impact of the negative pressures facing all rural hospitals to help lead the rural health community through these challenging times.
About iVantage Health Analytics
iVantage is a leading advisory and business analytic services company applying Accelerated Healthcare Transformation™ and the VantagePoints™ platform to drive sustained, evidence-based results. The company’s unique combination of technology, content, and expert advisory services accelerates decision making for the new healthcare.