Memorial Hospital Provided $7.6M in Healthcare Services
October 19, 2012
Facility recognized as top-ranked Community Value hospital
MARTINSVILLE – Memorial Hospital in Martinsville provided $7.6 million in services last year to people who lacked the ability to pay for their care.
As a result of these and other efforts, the hospital recently was recognized as a top-ranked Community Value Five Star hospital by Cleverley + Associates, an Ohio-based health care financial consulting firm that specializes in strategies for benchmarking and performance enhancement, according to a news release.
Hospitals scoring in the top 20 percent of the Community Value Index (CVI) are designated as Community Value Five Star facilities, the release stated.
Cleverley + Associates’ CVI measures the value a hospital provides to its community through 10 measures that assess performance in four areas: Financial viability and reinvesting back into the facility; maintaining a low cost structure; reasonable charges; and providing high quality care to patients, the release stated.
Memorial recently released a report to the community for last year. It stated that the total $7.6 million in services to those unable to pay included the unpaid cost of Medicaid as well as charity care and other uncompensated care.
Beginning in 2011, charity and other uncompensated care is reported based on the cost of the care provided rather than on the charges, the report stated.
Also last year, the hospital paid $1,825,188 in city, county and state taxes through state sales taxes as well as property taxes, the report stated.
Property and other taxes paid by the hospital amounted to more than $1.3 million; state sales tax totaled $405,420; and local sales tax was $119,299, according to the report.
The hospital also invested more than $2.9 million in its facilities last year, when a renovation of the psychiatry department was completed and the nurse call system was upgraded, as were dash monitors and an electronic medical records system, the report stated.
The total investment also included safeguards to enhance patient security as well as technology replacement, information technology additions/updates, and important facility upkeep and maintenance, the report stated.
With 857 employees and an annual payroll of $44,181,094, Memorial is one of the largest employers in the region.
It also helped support several organizations last year, including: Activate Martinsville & Henry County, American Cancer Society, American Heart Association, Carlisle School, Citizens Against Family Violence, Community Fellowship and Henry County Public Schools, the report stated.
Other benefactors included the Martinsville-Henry County Chamber of Commerce, Martinsville High School, Martinsville Mustangs, Martinsville Speedway, Patrick Henry Medical Society, Piedmont Arts Association, Smart Beginnings, Smith River Sports Complex, United Way, Wake Forest University, West Piedmont Adult Education and the YMCA, according to the report.