Value Based Purchasing (VBP) is a program administered by the federal government to incentivize clinical quality and patient satisfaction in American hospitals. In general, hospitals contribute 1% of Medicare payments in to a pool, out of which money is returned to hospitals based on their ranking among fellow hospitals. For example, a hospital may contribute $1 and receive back $1.50 if they score higher than other hospitals. A low-scoring hospital may contribute $1 to the pool, but only get $0.75 back because of a low ranking.
According to recently released data from the Illinois Hospital Association, KSB Hospital ranks #1 of 124 Illinois hospitals scored, and ranks #38 out of 3,044 hospitals in the United States!
These rankings and scores are based on a combination of clinical quality scores and HCAHPS survey data of patient satisfaction.
We know that providing excellent clinical quality and patient satisfaction improves the patient experience, and now we’re also seeing that such great performance improves our financial outlook.
Scores like these are a great mile-marker on our journey to be one of the Top 100 Hospitals in the United States. We can be encouraged and reinvigorated knowing that our hard work is being noticed!
Thank you for your commitment to excellence–let’s keep up the hard work and make KSB Hospital the best place for patients to receive care!