Health News
- Medicare Ratings For Nursing Homes Rely Heavily On Self-reported Data; Recent Inspection Data Are Available Elsewhere
Next time you look at Medicare's ratings for nursing homes, be aware that most of the information used to make the ranking is based on self-reported data and is not verified by the government. Consumers and investors make critical decisions based...
- Paducah Baptist And Ashland Hospitals 'above Average' In Consumer Reports' Ratings Of Hospitals For Heart Surgery
Baptist Health Paducah (formerly Western Baptist Hospital)By Melissa Landon Kentucky Health News Consumer Reports has reported ratings of hospitals for heart-valve and coronary artery bypass surgery based on hospitals' reports to the Society...
- Consumer Reports Rates Hospitals On Safety, Puts Somerset Hospital Last In Kentucky; Hospital Blames Its Incomplete Data
Consumer Reports magazine recently released safety rankings for hospitals across the country, compiled from government data. Miles Memorial Hospital in Damariscotta, Maine, received the best safety rating in the U.S., a 78 on a scale of 100....
- Kentucky Hospitals Score Mostly Bs And Cs On Hospital Safety Scorecard; Most In U.s. Earned An A Or B
In an analysis of the nation's hospitals and their safety records, many of Kentucky's health care facilities have some shortcomings. A study by the Leapfrog Group finds that the vast majority of the state's hospitals score a B or C in overall...
- Safety-net Hospitals Could Get Hit Hardest In Oct. When Patient Ratings Will Influence Medicare And Medicaid Payments
When hospitals start getting paid based on the perceived quality of care they provide to their Medicare and Medicaid patients, so-called "safety net" hospitals, a last resort for the poor, could be the losers in the equation. That's because a main...
Health News
Hopkinsville hospital's credit rating downgraded; part of national trend, but only Kentucky hospital nicked by rating agency lately
Following a national trend stemming from a slowly recovering economy, the hospital in Hopkinsville has had its credit rating downgraded, a possibility many Kentucky hospitals may be facing. "This means the hospital may have to pay a higher interest rate if it needs to borrow money in the near future," reports Nick Tabor, senior staff writer for theKentucky New Era.
Loss of business, a small revenue base and lots of debt were among the reasons Jennie Stuart Medical Center's rating dropped from BBB+ to BBB, Tabor reports. Fitch Ratings, one of the global agencies whose ratings guide investors, said uncertainty about the expansion of Kentucky's Medicaid system and how federal health reform will affect the hospital's finances were other reasons for the downgrade. The hospital has lost money in two of the last four years. Last year, it had a 1.9 percent loss.
Tabor explains there are eight ratings above the BBB level. If the facility's rating "were to slip two levels lower, to BB+, it would be on the level of 'junk bonds,' no longer considered investment grade," he reports.
There are three major rating companies in the U.S.: Fitch, Moody's and Standard and Poor's. Moody's expects downgrades of nonprofit hospitals to outnumber upgrades by the end of 2012, reports Jeffrey Young for The Huffington Post. Fitch expects the same will happen, said Senior Director Emily Wong. Smaller hospitals will especially feel the pinch since they "don't have as much ability to offset expense, inflation or reimbursement reductions," Wong said.
Since October 2011, Fitch has reviewed seven nonprofit hospitals in Kentucky. Five were affirmed, one was upgraded and Jennie Stuart was the lone downgrade. The other facilities reviewed were:
? Norton Healthcare, Louisville: affirmed at A-
Loss of business, a small revenue base and lots of debt were among the reasons Jennie Stuart Medical Center's rating dropped from BBB+ to BBB, Tabor reports. Fitch Ratings, one of the global agencies whose ratings guide investors, said uncertainty about the expansion of Kentucky's Medicaid system and how federal health reform will affect the hospital's finances were other reasons for the downgrade. The hospital has lost money in two of the last four years. Last year, it had a 1.9 percent loss.
Tabor explains there are eight ratings above the BBB level. If the facility's rating "were to slip two levels lower, to BB+, it would be on the level of 'junk bonds,' no longer considered investment grade," he reports.
There are three major rating companies in the U.S.: Fitch, Moody's and Standard and Poor's. Moody's expects downgrades of nonprofit hospitals to outnumber upgrades by the end of 2012, reports Jeffrey Young for The Huffington Post. Fitch expects the same will happen, said Senior Director Emily Wong. Smaller hospitals will especially feel the pinch since they "don't have as much ability to offset expense, inflation or reimbursement reductions," Wong said.
Since October 2011, Fitch has reviewed seven nonprofit hospitals in Kentucky. Five were affirmed, one was upgraded and Jennie Stuart was the lone downgrade. The other facilities reviewed were:
? Norton Healthcare, Louisville: affirmed at A-
? Owensboro Medicald Health System: affirmed at BBB+
? Appalachian Regional Healthcare: upgraded BB from BB-
? King's Daughters in Ashland: affirmed at A+
? Baptist Health Systems: affirmed at AA-
? St. Elizabeth Medical Center: affirmed at AA-
AA- and A-rated facilities are reviewed every two years. BBB and BBs are reviewed once a year, and B- and below-rated facilities are reviewed every six months. This type of story can be localized for any hospital. The easiest way to check ratings for hospitals in your area is to get an account at each of the three major rating companies. "These accounts are free and easy to set up," Tabor said. (Read more)
- Medicare Ratings For Nursing Homes Rely Heavily On Self-reported Data; Recent Inspection Data Are Available Elsewhere
Next time you look at Medicare's ratings for nursing homes, be aware that most of the information used to make the ranking is based on self-reported data and is not verified by the government. Consumers and investors make critical decisions based...
- Paducah Baptist And Ashland Hospitals 'above Average' In Consumer Reports' Ratings Of Hospitals For Heart Surgery
Baptist Health Paducah (formerly Western Baptist Hospital)By Melissa Landon Kentucky Health News Consumer Reports has reported ratings of hospitals for heart-valve and coronary artery bypass surgery based on hospitals' reports to the Society...
- Consumer Reports Rates Hospitals On Safety, Puts Somerset Hospital Last In Kentucky; Hospital Blames Its Incomplete Data
Consumer Reports magazine recently released safety rankings for hospitals across the country, compiled from government data. Miles Memorial Hospital in Damariscotta, Maine, received the best safety rating in the U.S., a 78 on a scale of 100....
- Kentucky Hospitals Score Mostly Bs And Cs On Hospital Safety Scorecard; Most In U.s. Earned An A Or B
In an analysis of the nation's hospitals and their safety records, many of Kentucky's health care facilities have some shortcomings. A study by the Leapfrog Group finds that the vast majority of the state's hospitals score a B or C in overall...
- Safety-net Hospitals Could Get Hit Hardest In Oct. When Patient Ratings Will Influence Medicare And Medicaid Payments
When hospitals start getting paid based on the perceived quality of care they provide to their Medicare and Medicaid patients, so-called "safety net" hospitals, a last resort for the poor, could be the losers in the equation. That's because a main...