UNC Health Chatham

What it reported doing in 2024

Chatham hospital is a 25-bed critical access hospital located in siler city, nc that is part of the unc health system. With a long history of providing high quality health care to the residents of chatham and surrounding counties, chatham hospital has received multiple five-star ratings for patient experience from the centers for medicare & medicaid services. The hospital, accredited by the joint commission, provides surgical, medical, pediatric, maternity and emergency services. Community based outpatient services in the area of diabetes education, laboratory, physical therapy, occupational therapy, speech therapy, imaging, cardiac rehabilitation and pulmonary rehabilitation are also offered. As a critical access hospital, chatham hospital is able to utilize beds, to not only meet the needs of acute patient care, but to also provide post-acute care to patients who no longer require acute medical care, but need additional time and care for strengthening and recovery before returning home. The 11-bed emergency department provides full-service around the clock care to more than 1,370 adults and children each month. Unc health bases an als ambulance on the grounds of chatham hospital. In september 2020, chatham hospital opened a $2.6 million maternity care center. The chatham hospital maternity care center is close to home and provides compassionate and expert care for mothers and their newborns. The opening is the first time since 1992 that chatham hospital has offered maternity services. Despite many rural healthcare facilities closing maternity care wards across the nation, chatham hospital's venture is part of unc health's rural care initiative. This system initiative is designed to bring much needed services to where patients live.

Financial Efficiency

• Mission deployment rate: 85.4%; rating input score 85
• Program expense ratio: 92%; rating input score 92
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Missing
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 55.6%; rating input score 56; 15th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 7.2%; rating input score 65; 65th percentile among comparable filings
• Total-asset coverage ratio: 0.71; rating input score 28; 28th percentile among comparable filings
• Liabilities to assets ratio: 1.17; rating input score 4; 4th percentile among comparable filings
• Officer compensation ratio: 3.2%; rating input score 35; 35th percentile among comparable filings

Growth

• Program expense growth: 7.6% per year; rating input score 100; 61st percentile among comparable filings
• Revenue growth: 6% per year; rating input score 100; 52nd percentile among comparable filings
• Asset growth: -2% per year; rating input score 0; 4th percentile among comparable filings