PBMC earns ‘transformation award’

Peconic Bay Medical Center has received a “transformation award” for reducing operating costs, improving patient flow, reducing readmission rates, and improving financial stability for the medical center’s physician employment program.

The Southwind Transformation Award in Cost-Effective Community Care was given to the Riverhead hospital by the Washington, D.C.-based The Advisory Board Company, a global research, technology, and consulting firm partnering with health care and higher education organizations. 

“Recognizing the threat to hospital margins of the aging population and other forces, PBMC developed a plan to ensure the hospital’s financial sustainability, mobilizing a system-wide effort analyzing all departments and divisions to identify improvement opportunities. The initiative included optimizing care coordination, leadership structure, emergency services, ancillary services, supply chain, perioperative services, and the physician enterprise,” according to a press release issued yesterday by The Advisory Board Company.

PBMC was one of three “top-performing health care provider organizations” to receive national awards from the company.

“Health care reform and private payers’ increasing push toward accountable care mean that leading health care providers must both align with physicians and achieve system-wide improvements in cost and quality performance,” said John Deane, CEO, Southwind. “These three organizations’ work to deepen their collaborative partnerships with physicians makes them national leaders in executing key initiatives for value-based care strategy.”

The other organizations cited by the firm for excellence were Health First, an integrated, not-for-profit health care delivery network in Brevard County, Fla. and BayCare Health based in Clearwater, Fla.