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Key to Low Cost Hospitals: HMC KnowledgeWebTM
| HMC Philosophy |  | Networking with peers builds a community of learning that will lead to cost and performance improvement. More specifically, HMC research has shown that there is a strong relationship between participation in the HMC KnowledgeWebTM and improvement in overall hospital cost position. |
The Research | | HMC calculated hospitals’ average change in cost per adjusted admission from 2002 to 2003 and assigned each facility to a quartile based on their change in cost position percentage. Those facilities in Q1 were the “Quantum Improvers” (those with the best performance) and those facilities in Q4 were the “Non-Starters” (the worst performers). HMC then compared participation in networking activities through the HMC KnowledgeWeb™ to the change in cost position. |
The Results | | Hospitals in the first and second quartiles (those with the most improvement) have higher networking participation rates than those in third and fourth quartiles (those with the worst improvement). Networking through the HMC KnowledgeWeb™ could transform you from a fourth quartile performer into a “Quantum Improver.” | 
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