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| FOR IMMEDIATE RELEASE FROM: Shelly Pauling, Education & Communications Manager RE: Redwood Area Hospital Again in U.S. Top 35 DATE: February 24, 2010 RAH Three-peats for the Gold (Medal) For the third year in a row, Redwood Area Hospital (RAH) has achieved Gold Standard designation as one of the top 35 critical access hospitals in the nation. “Gold Standard” is a recognition given by the audit firm LarsonAllen, LLC, to the top 35 critical access hospitals in the nation, from an analysis of over 1,100 hospital reports. Because it takes many months to analyze the annual reports, this most recent recognition for 2008 was not announced until this past week. RAH was previously named to the Gold Standard list of critical access hospitals for 2006 and 2007. Critical Access Hospitals are those with 25, or fewer, beds that are reimbursed by Medicare through an annual cost report. Although the analysis is primarily based on financial performance, LarsonAllen recognizes it as an indication things are being done well throughout the organization in order to achieve the financial results. It is a huge accomplishment for an athlete to win even one gold medal at the Olympics. It is exceptional to win a gold medal at two consecutive Olympics. Winning a gold medal at three consecutive Olympics would for sure place an athlete in a very elite group. In the same way, RAH is in very elite company to reach the top 35 hospital list three years running. Hospital officials were a little surprised that RAH made the Gold Standard list for 2008, since results for that year were not at the same level as 2006 and 2007. But, LarsonAllen points out that the analysis is not just based on a one-year “bottom line” performance. It is based on numerous balance sheet and income statement ratios that assess a hospital’s financial viability. Jim Schulte, chief executive officer for the hospital, points out that most hospitals have seen a decline in financial performance over the past couple years. “So, comparison with others throughout the nation is relative to that overall picture,” says Schulte. Schulte is quick to point out the continued financial strength of RAH is a credit to the dedicated physicians, staff and others associated with the city-owned facility; because it is ultimately the many residents of the area that choose to use the local physicians and hospital that make the difference. LarsonAllen says, “While difficult to directly quantify, we believe that outstanding physicians, combined with excellent physician and community relationships, is possibly the most important factor in the financial health of Gold Standard performers.” Watch the presentation on You Tube. |
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