Inova Fair Oaks Hospital Named a Community Value Star Hospital by Cleverley + Associates

Fairfax, VA – (September 21, 2011) — Inova Fair Oaks Hospital was recently recognized as a top-ranked Community Value Provider by Cleverley + Associates (Columbus, OH). Cleverley + Associates, a leading healthcare financial consulting firm specializing in operational benchmarking and performance enhancement strategies, released the findings as part of its new publication: State of the Hospital Industry – 2011 Edition.

“Given our dedication to and recognition of the highest standards of quality clinical and compassionate care, we are gratified that our work in relation to management, productivity and financial responsibility has been recognized,” commented John Fitzgerald, SVP of Inova Health System and CEO of Inova Fair Oaks Hospital. “Taken as a whole, when properly addressed these core elements help ensure that our overarching goal to assure maximized value in the services we provide by delivering high quality, safe care and an exceptional patient experience while maintaining affordability for the Fair Oaks community is achieved.”

Written by William O. Cleverley, Ph.D., a noted expert in healthcare finance, State of the Hospital Industry reports selected measures of hospital financial performance and discusses the critical factors that lie behind them. The publication focuses on the U.S. acute-care hospital industry over a three-year time period (2007-2009).

For the eighth year, 2011 State of the Hospital Industry reports an exclusive measure developed by Cleverley + Associates: the Community Value Index® (CVI). The CVI is a proprietary index created to offer a measure of the value that a hospital provides to its community. The book outlines the data used to calculate the CVI as well as provides a list of the Top 100 and all Five-Star (top quintile) hospitals.

“The topic of hospital value is increasingly being discussed. Issues of pricing and community benefit have been well-publicized but little has been offered to measure the broad scope of value,” adds James Cleverley, co-author. “In response, the Community Value Index® was created to provide an assessment of a hospital’s performance in four areas: financial strength and reinvestment, cost of care, pricing, and quality. Fundamentally, the CVI suggests that a hospital provides value to the community when it is financially viable, is appropriately reinvesting back into the facility, maintains a low cost structure, has reasonable charges, and provides high quality care to patients.”

Inova Health System is a not-for-profit health care system based in Northern Virginia that consists of hospitals and other health services, including emergency- and urgent-care centers, home care, nursing homes, mental health and blood donor services, and wellness classes. Governed by a voluntary board of community members, Inova’s mission is to improve the health of the diverse community it serves through excellence in patient care, education and research.