Lakes Regional Healthcare has scored among the top 10% in Centers for Medicare & Medicaid Services’ (CMS) Hospital Value-Based Purchasing reimbursement program. In 2019, Lakes Regional Healthcare ranked 111th out of nearly 3,000 participating Medicare-certified hospitals.
The CMS Value-Based Purchasing program rewards hospitals that provide high quality, safe care. Scores are based on a select set of quality and cost measures. Hospitals with a total performance score in the top quartile receive incentives.
“We have a strong commitment to quality and patient safety while being good stewards of the healthcare dollar,” said Jason Harrington, President and CEO. “Our performance is an example of our commitment to being innovative and forward-thinking in our approach to improving quality.”
Lakes Regional Healthcare was an early adopter of the Value-Based Purchasing program. Quality teams collaborated closely with physicians to develop processes to support Value-Based Purchasing and ensure that patients receive the right care at the right time. Doing so leads to higher quality care, at a lower cost.
“Our quality team works closely with our care teams to ensure we’re following national quality standards,” said Harrington. “To rank 111th out of nearly 3,000 hospitals across the country is a huge achievement. It reflects how we approach care – keeping the patient as our focus and delivering the highest quality care that we’d want for our own families. I’m very proud of our performance and it speaks to the quality of our physicians, staff, and support of our Board in demanding transparency and a commitment to quality.”
The CMS Value-Based Purchasing program aims to transition the delivery of care to value-based medicine in an effort to improve the quality and safety of care. The program ties incentives to hospitals who provide better clinical outcomes, adhere to evidence-based care standards, and have high patient satisfaction scores.
