By far, the most common method to compare hospital outcomes is indirect standardization, often accomplished by dividing the observed number of patient events at a hospital by the expected number of patient events derived from the population (Fleiss, Levin, and Paik 2003; Iezzoni 2012) to get the traditional “O/E” metric. In some cases the observed number of events (O) is replaced by a predicted number of events (P), where P is a function of O, as is done for Medicare’s Hospital Compare random effects model, where the quantity “P/E” is reported (Krumholz et al. 2006a,b; Silber et al. 2010). At times, investigators prefer to report (O-E)/N rather than O/E, which has the advantage that the metric is clearly defined and stable even when E is near zero (Chassin et al. 1989; Silber, Rosenbaum, and Ross 1995). All approaches have one aspect in common, that being the reliance on each individual hospital’s own patient case mix to be used when comparing across hospitals. The fact that the indirect standardization approach allows two hospitals with very different distributions of patients to be compared represents both a strength and weakness of the technique. In a sense, indirect standardization tries to describe what has happened when the hospital sees the mix of patients it usually sees, while direct standardization tries to describe what would happen if the hospital saw a mix of patients based on another population of interest. Direct standardization will utilize this external reference population to weight the results of the index hospital (Fleiss, Levin, and Paik 2003). Speaking informally, a hospital administrator trying to improve the care of the current patient population is interested in indirect standardization (i.e., would other hospitals do better with my patients?), while a patient looking at a ranking of hospitals to select one would be interested in direct standardization—(i.e., where would it be best for me to go if I resembled the typical patients used for direct standardization, or how well has the hospital done with other patients who have the condition for which I am being admitted). On the one hand, judging a hospital based on its own patient population makes intuitive sense—the hospital is being judged on cases relevant to what it sees. While it may be convenient to compare hospitals even if they treat very different types of patients, a concern of indirect standardization is that two hospitals that see very different types of patients may be unfairly compared, as the lack of overlap in patient populations places a great deal of burden on the indirectly standardized model to appropriately account for these nonoverlapping patient factors. If the model fails to incorporate the important differences between each hospital’s patient populations, then the inferences concerning hospital comparison with O/E methods may be misleading. An alternative approach that we have introduced is to use a form of direct standardization (Silber et al. 2014, this issue), that uses a template of patients and compares a multivariate matched set of patients across hospitals, thereby achieving closely overlapping patient distributions for observable variables—far more close on measured characteristics than if patients had been randomly assigned to hospitals. In this previous work we described how multivariate template matching, as a method to compare hospitals using direct standardization, produced excellent matches across 217 hospitals performing general and orthopedic surgery across three states. It had the strength that each hospital was evaluated with the same template; therefore, there was less concern about nonoverlapping patients, when hospitals did have overlapping patients to compare. When a hospital’s Chief Medical Officer desires to know precisely how well his or her hospital performs on its own distribution of patients, and not on an external template that may not be representative of the type of patients seen at his or her specific hospital, then direct standardization may not be the method of choice. In other words, the Chief Medical Officer may want to know, “How well do we do with the patients we see?” In this article, we develop a new method to perform indirect standardization with multivariate template matching, and we introduce what we define as “hospital-specific template matching” a form of direct standardization with a hospital’s own patients (thereby resembling aspects of indirect standardization). This approach will allow a close look at how well a hospital performs on the patients it sees by constructing a template of patients representative of the hospital’s own patient distributions, finding other hospitals that also see similar patients to compare outcomes between the hospital of interest and other hospitals that can be matched to the index hospital’s template. In so doing, we hope to provide a new method to better implement indirect standardization analyses for improving a hospital’s quality of care specifically tailored to the index hospital’s most relevant patients—the patients they see.