KINGMAN - Kingman Regional Medical Center is one of only four hospitals in the state recently named a "Five Star Community Value Hospital."
It is the fifth year in a row KRMC has received the "five star" designation. The other hospitals to receive the rating are St. Joseph's Hospital in Tuscon, Banner Thunderbird Medical Center in Glendale and Banner Desert Medical Center in Mesa.
The ratings are based on four areas of evaluation, including financial viability and reinvestment, cost structure, charge structure and quality performance. The ratings are compiled by Cleverly and Associates, an Ohio-based health-care consulting firm.
The rankings are based on financial statements and data from 2007.
KRMC is a not-for-profit hospital which reinvests profits back into the facility, said Jamie Taylor, spokesperson for the medical center.
Its charges are often more than 20 percent below the state average, she added.
Brian Turney, CEO for KRMC, said the medical center's focus on value for the community stems from its beginnings in 1983 when community leaders banded together to purchase land for the hospital from Mohave County.
"That philosophy has carried us along for many years," Turney said.
KRMC faces some financial obstacles in the future, Turney said, with reimbursement from programs like Medicare and ACCESS declining or frozen. About 70 percent of patients at KRMC are enrolled in the programs. The medical center operated at a 1.7 percent profit margin last year, meaning profits ran only slightly higher than expenses.
"We face some pretty stiff challenges ahead, but we're hopeful," Turney said.