Memorial Hermann has been recognized for its overall performance in serving both individuals and the community. Photo via memorialhermann.org

Houston hospitals have been evaluated by a new ranking to determine the institutions that are doing their best to serve their patients and the community as a whole.

Brookline, Massachusetts-based think tank, The Lown Institute, has revealed its national rankings on its Lown Institute Hospitals Index — which evaluated hospitals based on civic leadership (based on inclusion and access), value of care, and patient outcomes (which evaluates safety and satisfaction).

"At a time when communities are relying on them like never before, hospitals must rethink what it means to be great," says Dr. Vikas Saini, president of the Lown Institute, in a news release. "COVID-19 highlights how hospitals are essential community partners for anyone in need. To be great, however, a hospital cannot only provide care that's high in quality. It must also deliver value and advance equality. Our index is designed to help them do just that."

The Texas Medical Center's Memorial Hermann Hospital ranked as No. 9 on the list that evaluated over 3,000 hospitals in the country. The hospitals are also given a grade on each of the three categories. Memorial Hermann received an A for civic leadership, an A- for value of care, and an A+ for patient outcomes — for an overall A+ grade.

Based on ranking, the Houston area's top 10 hospitals, which all received an overall grade of A- or above, are:

  1. Memorial Hermann Texas Medical Center (No. 9 in the country; No. 3 in the state)
  2. Harris Health System (No. 23 in the country; No. 5 in the state)
  3. Memorial Hermann Northeast Hospital in Humble (No. 165 in the country; No. 15 in the state)
  4. Memorial Hermann Hospital System (No. 297 in the country; No. 17 in the state)
  5. Brazosport Regional Health System in Lake Jackson (No. 304 in the country; No. 18 in the state)
  6. The Woman's Hospital of Texas (No. 373 in the country; No. 25 in the state)
  7. Memorial Hermann Katy Hospital in Katy (No. 374 in the country; No. 26 in the state)
  8. Houston Methodist San Jacinto Hospital in Baytown (No. 627 in the country; No. 43 in the state)
  9. Memorial Hermann Sugar Land Hospital in Sugar Land (No. 648 in the country; No. 44 in the state)
  10. Memorial Hermann Memorial City Medical Center (No. 652 in the country; No. 45 in the state)

The Harris Health System ranked the highest in Houston for civic leadership, and the Memorial Hermann Memorial City Medical Center scored the highest in the region for patient outcomes.

There were three other Texas hospitals among the top 10 in the nation — JPS Health Network in Fort Worth ranked as No. 1, Seton Northwest Hospital in Austin ranked as No. 4, and Parkland Health and Hospital System in Dallas ranked as No. 10.

The point of the study, according to the release, is to hold hospitals accountable for more than just one factor of success.

"There are some very fine hospitals that feel forced to focus on profitable elective procedures to stay in business," says Saini in the release. "This can lead to business decisions that make them look good on outcomes like mortality, but at the expense of equity. The data show that gaps between a hospital's clinical results and its performance in the community are sometimes very wide, which can contribute to disparities in care and put certain communities at risk."

The study factored in data from a variety of sources, including the 100 percent Medicare claims datasets (MEDPAR and outpatient); Internal Revenue Service pulled from Community Benefit Insight database; Healthcare Cost Report Information System administered by the Centers for Medicare and Medicaid Services; Securities and Exchange Commission filings; public records; Bureau of Labor Statistics; and other databases, according to the release.

"No other hospital ranking provides a 360-degree view of hospital performance," says Shannon Brownlee, senior vice president at the Lown Institute, in the release. "Many of the best-known hospitals score highly on patient outcomes but poorly on civic leadership and value of care. Our data show that it's possible to do well in all three categories, because some hospitals are doing it. That means all the people in their communities are being served effectively and fairly."

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Houston quantum energy chip startup emerges from stealth with $12M round

seed funding

Houston-based Casimir has emerged from stealth with a $12 million seed round to commercialize its quantum energy chip.

The round was led by Austin-based Scout Ventures. Lavrock Ventures, Cottonwood Technology, Capital Factory, American Deep Tech, and Tim Draper of Draper Associates also participated in the round. The oversubscribed round exceeded the company’s original $8 million target, according to a news release.

Casimir’s semiconductor chips can generate power from quantum vacuum fields without the need for batteries or charging. The company plans to commercialize its first-generation MicroSparc chip by 2028.

The MicroSparc chip measures 5 millimeters by 5 millimeters and is designed to produce 1.5 volts at 25 microamps, comparable to a small rechargeable battery, without degradation and no replacement cycle.

“Casimir represents exactly the kind of breakthrough dual-use technology Scout Ventures was built to back,” Brad Harrison, founder and managing partner at Scout Ventures, said in the release. “This is based on 100 years of science and we’re finally approaching a commercial product … We’re proud to lead this round and support Casimir’s journey from applied science to deployed technology.”

Casimir says it aims to scale its technology across the ”full power spectrum,” including large-scale energy systems that can power homes, commercial infrastructures and electric vehicles.

Casimir's scientific work has been supported by DARPA-funded nanofabrication research and its technology was incubated at the Limitless Space Institute (LSI). LSI is a nonprofit that works to innovate interstellar travel and was founded by Kam Ghaffarian. Technology investor and serial entrepreneur Ghaffarian has been behind companies like X-energy, Intuitive Machines, Axiom Space and Quantum Space.

Harold “Sonny” White, founder and CEO of Casimir, believes the technology can power devices for years without replacements.

“Millions of devices will operate for years without a battery ever needing to be replaced or recharged because we have engineered a customized Casimir cavity into hardware capable of producing persistent electrical power,” White added in the release. “I spent nearly two decades at NASA studying how we power humanity’s future. That work led me to the Casimir effect and the quantum vacuum, where new tools have allowed us to build on a century of scientific knowledge and bring abundant power to the world.”

Houston-based Fervo Energy bumps up IPO target to $1.82 billion

IPO update

Houston-based geothermal power company Fervo Energy is now eyeing an IPO that would raise $1.75 billion to $1.82 billion, up from the previous target of $1.33 billion.

In paperwork filed Monday, May 11 with the U.S. Securities and Exchange Commission, Fervo says it plans to sell 70 million shares of Class A common stock at $25 to $26 per share.

In addition, Fervo expects to grant underwriters 30-day options to buy up to 8.33 million additional shares of Class A common stock. This could raise nearly $200 million.

When it announced the IPO on May 4, Fervo aimed to sell 55.56 million shares at $21 to $24 per share, which would have raised $1.17 billion to $1.33 billion. The initial valuation target was $6.5 billion.

A date for the IPO hasn’t been scheduled. Fervo’s stock will be listed on Nasdaq under the ticker symbol FRVO.

Fervo, founded in 2017, has attracted about $1.5 billion in funding from investors such as Bill Gates-founded Breakthrough Energy Ventures, Google, Mitsubishi Heavy Industries, Devon Energy (which is moving its headquarters to Houston), Tesla co-founder JB Straubel, CalSTRS, Liberty Mutual Investments, AllianceBernstein, JPMorgan, Bank of America and Sumitomo Mitsui Trust Bank.

Fervo’s marquee project is Cape Station in Beaver County, Utah, the world’s largest EGS (enhanced geothermal system) project. The first phase will deliver 100 megawatts of baseload clean power, with the second phase adding another 400 megawatts. The site can accommodate 2 gigawatts of geothermal energy. Fervo holds more than 595,000 leased acres for potential expansion.

Cape Station has secured power purchase agreements for the entire 500-megawatt capacity. Customers include Houston-based Shell Energy North America and Southern California Edison.

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This article originally appeared on our sister site, EnergyCapitalHTX.com.