This information provided by Cortland Regional Medical Center:
Cortland Regional Medical Center has received the highest ranking in New York State by the Centers for Medicare and Medicaid Services (CMS) Value-Based Payment (VBP) program. Each year CMS scores all eligible New York State hospitals on aspects of care. This year they were—risk-adjusted mortality and patient outcomes; patient experience; patient safety; and overall efficiency, as measured by Medicare spending per beneficiary.
The CMS Value-based Payment (VBP) program assigns scores based both on implementing improvements and on achieving a high level of care. It is a budget-neutral initiative. CMS withholds two percent of the expected market basket increase for all hospital inpatient Medicare payments and later redistributes those dollars based on VBP scores. Ultimately, lower performing hospitals lose some or all of their reimbursement funds so that CMS can reward high performing organizations like Cortland Regional.
Based on this VBP Score, In addition to the two percent, Cortland Regional received the highest percentage financial award in New York State. According to CRMC, for Medicare to place this much importance on these measures reinforces the fact that Cortland Regional is a high-quality, safe, and low cost healthcare organization. Nationally, Cortland Regional placed 56 out of over 2800 hospitals with enough data to be scored by CMS.
Cortland Regional has remained in the top ten for the last three years, having placed 9th in 2016 and number one in 2015, respectively. The only other nearby hospital with top ten value-based purchasing scores is Guthrie Corning, and Cortland Regional was one of only 4 other hospitals in last year’s top 10 to make the list again this year.