Verras is proud to announce the newly created Index of Quality Improvement (IQI)
Verras’ Index of Quality Improvement (IQI) is an easily interpreted means with which healthcare providers, government agencies, purchasers and patients can assess hospitals’ relative quality and financial improvements. Five industry-standard measures of inpatient clinical quality and cost efficiency outcomes are trended over a three-year period to achieve greater accuracy and reliability than yearly comparisons.
The Index of Quality Improvement metrics are:
- Financial
Resource Consumption – measured as inflation of charges - Morbidity Rates
Complications, Risk adjusted - Mortality Rates
Risk adjusted - Reductions in Variation (RIV)
A reliable measure of treatment consistency - National Hospital Quality Measures
Mandated by CMS - (Optional)Accountable Care Organization Measures
Mandated for ACO participation
An IQI can be created using publically available MedPar data that is accessible to all stakeholders. This allows providers and purchasers the ability to compare groups of hospitals within a system or geographical region, or within a city or state.
