We’re taking a different tack this week. After running thru several markets and seeing who’s winning or losing and why, we’re going to tackle New York, New York.
New York, NY is a very big and competitive market—with many large and major players. Rightly, these facilities don’t want to be compared to Jupiter, Florida or Birmingham, Alabama, or even Chicago or LA. So, we’re going to show you how 22 Big facilities in the NY metro area…the NY, NY Big Apples compare one to the other…. Big Apples to Big Apples in the Big Apple.
As always, the idea is to show what you can learn in 30 minutes with Franklin:BI; things that frankly every manager, analyst, or advisor should be able to do for any market, anywhere, any time.
Here’s the answer first. Mount Sinai St Luke’s Roosevelt is the top-quality performer of the NY NY Big’s. The most efficient hospitals, Bellevue and Kings County, are not strong quality players.
Quick aside: To get this chart, we’ve ranked every Clinical Quality measure (Mortality, Complications, HAC’s and Readmits) and every CMS “efficiency measure” (Medicare spend per Beneficiary, AMI cost, etc.). The Franklin:BI functionality generates a 1-5 star rating (worst quintile to best quintile) for any metric versus any comparison group which we then summarized below.
Now, candidly, as a patient I want to go to a facility that’s on the top half of the matrix (better quality). I’ll take best quality over best efficiency any day. Though efficiency is key for financial performance, assuming your patients don’t steer away for lack of quality. So, in truth, both are important for sustainability.
BUT, averages don’t always tell the tale. Would you prefer a good Mortality Rate to a good Readmit Rate as a patient, for example? (It’s hard to be readmitted if you don’t survive your stay, I always say.) So, let’s take a look at the detail.
This chart shows that the top Mortality performers are New York Presbyterian, Maimonides, and Stony Brook, while the top HAC performer is Mount Sinai St Luke’s Roosevelt.
And take a look at Jamaica, Brookdale, and Bellevue…they all have terrible Mortality scores versus this group!
So, the message here is that it’s important to know how you stack up versus whatever group you think is relevant and important. If you don’t like our take or want to see a different comparison, get in touch with us. There isn’t one right answer…so take control with Franklin:BI.