The National Rural Health Association recognizes hospital’s financial stability
ThedaCare Medical Center-New London and Riverside Medical Center in Waupaca were recently merited a Top 20 Best Practices in Financial Stability by the National Rural Health Association.
“It is an honor to receive this ranking from the National Rural Health Association,” said Bill Schmidt, president of ThedaCare Medical Center-New London. “We are privileged to be named among the top 20 for financial stability among all critical access hospitals in the United States.”
Craig Kantos, CEO, Riverside Medical Center, agreed. “The ranking is a source of pride and an example of the strong and dedicated organization we provide to our community,” he said.
The ranking is based on the data compiled by iVantage Health Analytics in its Hospital Index, specifically the Financial Stability Index, which is based on four financial indicators: leverage, liquidity, capital efficiency and resource availability. The NRHA considers the two hospitals to be exemplars of best practices in all rural health care.
The determining factors for the Top 20 critical access hospitals were based on competitive strength, competitive intensity, market size and growth, quality, outcomes, patient perspective cost and charge and financial stability.
The NRHA will recognize facilities designated as best practices at an awards breakfast in October in Kansas City, MO.
The NRHA is a nonprofit organization working to improve the health and well-being of rural Americans and providing leadership on rural health issues through advocacy, communications, education and research. iVantage Halthy Analytics, Inc. is a privately held healthcare business intelligence and technology company.
ThedaCare™ is a community health system consisting of five hospitals: Appleton Medical Center, Theda Clark Medical Center, ThedaCare Medical Center-New London, Shawano Medical Center, and Riverside Medical Center in Waupaca. ThedaCare also includes ThedaCare Physicians, ThedaCare Behavioral Health, and ThedaCare at Home. ThedaCare is the largest employer in Northeast Wisconsin with more than 6,175 employees and is a member of the Mayo Clinic Care Network. Those interested can follow ThedaCare on Facebook and Twitter.