RICHMOND, Va., Nov. 20 /PRNewswire-USNewswire/ -- Virginia Health Information's (VHI) 2008 Industry Report identifies the most efficient and productive hospitals, nursing facilities and other providers. VHI's 2008 Industry Report has key information for businesses and purchasers on their costs, profits, staff hours per admission, charity care and other community support.
Virginia hospitals continued their trend of increased charity care with over 1 billion dollars in charity care to patients.
Hospital Charity Care as a Percentage of Net Patient Revenue
Year 2002 2003 2004 2005 2006 2007 Charity Care as a Percentage of Net Patient Revenue 4.62 6.62 7.42 8.05 8.43 9.24
While increasing charity care, most hospitals also showed strong financial performance. Statewide total margin (profit) for all hospitals increased from 7.57% in 2006 to 8.52% in 2007. In 2007 one in five hospitals and one in three nursing facilities lost money.
Research shows that experience in providing care can mean better quality. The Industry Report includes how often hospitals perform surgeries including open heart, orthopedic and neurological surgery. All medical conditions are also reported including those of the lungs, neurology, heart, urology and births.
The Industry Report is targeted to the needs of employers and purchasers of health care. The Industry Report includes printed information and Excel files for easy comparisons of Virginia's health care providers. Michael Lundberg, Virginia Health Information's Executive Director, notes "Costs for health care continue to climb. Purchasers want high-value health care that is transparent. Hospitals and nursing facilities have a long track record of supporting this report." Businesses and health insurance companies have long used the Industry Report to build their networks and negotiate provider contracts. The Industry Report was developed collaboratively among VHI, health care providers and Dr. Ramesh K. Shukla while at the Williamson Institute at
Information from the 2008Industry Report is also online at www.vhi.org along with additional information on hospital quality of care. Contact Virginia Health Information at 1-877 VHI-INFO or email@example.com
CONTACT: Michael T. Lundberg, Executive Director Virginia Health Information Phone: 804-643-5573, ext 314 Toll Free: 1-877-VHI-INFO E-mail: Michael@vhi.org Web address: www.vhi.org
|SOURCE Virginia Health Information|
Copyright©2008 PR Newswire.
All rights reserved