Recently, Holy Name Medical Center was the only hospital in Northeast New Jersey — and one of only three in the entire state – to achieve five stars in the latest federal rankings for overall quality of care by the Center for Medicare and Medicaid Services (CMS).
We are proud to once again be recognized as a national leader in patient care and safety, while also being one of the most affordable and cost-efficient providers in the state. These rankings — on metrics ranging from quality to safety to cost — are critical to helping patients make informed decisions in how they spend their healthcare dollars.
As New Jersey’s healthcare market continues to evolve, we remain committed to providing patients with high-quality, affordable care in a transparent, cost-effective manner. With the proliferation of tiered and narrow networks, policy-makers need to ensure a transparent framework that rewards high-quality, low cost healthcare delivery.
New Jersey’s healthcare market is currently dominated by some very large players, as nearly half of the state’s residents get their healthcare coverage from one insurance company. The provider side of this equation is also evolving with the accelerated consolidation of hospitals and physicians into large systems. However, when it comes to healthcare delivery, Holy Name is proving that bigger isn’t always better.
Study after study has proven that monopolistic healthcare systems only drive costs higher. A competitive, transparent, market with as many participants as possible is the only way to achieve the goal of higher quality and lower cost. Only through greater transparency and competition can we incentivize healthcare systems to keep patients healthy and costs low.
If we want to effectively lower the cost of healthcare in New Jersey, we need transparency on both sides of the equation. Consumers deserve to know how they’re spending their healthcare dollars, and that means providing transparency in quality, safety, and costs in a publicly accessible format. You wouldn’t shop for a new car or other major purchase without knowing the price, so why is it acceptable that healthcare costs remain hidden from consumers?
Finally, with individuals demanding to play a much more active role in choosing where and how they spend their healthcare dollars, we need to ensure that patients receive high-quality, patient-focused care. Our healthcare system is moving away from a procedure-driven model toward a relationship-building model that is more patient-centric, focusing on the unique needs of every individual. These include linguistic, dietary, cultural, religious, familial and financial needs, as well as personal and social considerations.
Holy Name’s outreach programs and culturally-sensitive initiatives such as Asian Health Services, Familia Y Salud and our faith-based services have become national models for addressing the diverse needs of various populations. To extend our reach to every neighbor we serve, Holy Name recently appointed the first vice president of patient engagement and chief experience officer in New Jersey.
As New Jersey’s healthcare market continues to evolve and change, we look forward to working with policymakers and stakeholders to accomplish our mutual goal of providing quality healthcare and lower costs.