Corewell Health

What it reported doing in 2024

See schedule ocorewell health is an integrated health care system in Michigan. Corewell health is driven by its mission to improve health, instill humanity and inspire hope. Our vision is a future where health is simple, affordable, equitable and exceptional and inspired by our values of compassion, collaboration, clarity, curiosity and courage. At our core, we are here to help people be well so they can live their healthiest life possible.the integrated health system has 20 hospitals, more than 300 outpatientlocations and post-acute care facilities, and over 65,000 employees including more than 12,000 physicians, more than 15,000 nurses, and advanced practice providers. During the year ended december 31, 2024, the corewell health integratedhealth system provided over $1.3 billion in community benefit programs in Michigan. The community benefit activities included healthclinics, research, donations, charity care, bad debts related to caringfor the uninsured and underinsured, costs for government programpatients, community partnership programs, health profession education, and discounted care under healthy Michigan plan (under 250% federalpoverty level).there are 31 subordinate organizations from the corewell healthaffiliated group that are part of this group return. Operations includehospital facilities and numerous clinical facilities.the subordinates provide care to individuals covered by governmentalprograms. Financial assistance is also provided for patients that arefinancially unable to pay for services provided.in addition, our teams go the extra mile for our patients and communities - and this dedication and commitment results in external recognition, awards and honors. Notable highlights for the year (in chronological order) included: the national blood clot alliance (nbca) named butterworth hospital the center of excellence in the united states. This designation is rewarded on excellence demonstrated on performance with patient education and post-hospitalization patient care for deep vein thrombosis and pulmonary embolism. The american medical group association (amga) recognized corewell health as a 2024 acclaim award recipient for bringing their organization closer to the ideal medical group and health system as they moved toward value based care by improving patient care experience, improving health of populations with a focus on quality outcomes, reducing per capita cost of healthcare, and emphasizing workplace wellness. Seramount, a strategic professional service and research firm recognized corewell health as one of the best 80 companies for multicultural women in the united states.corewell health william beaumont hospital was recognized as the top hospital in Michigan by u.s. News and world report's. Corewell health's blodgett, butterworth, beaumont, troy, dearborn, grosse pointe, and lakeland hospitals were all in the top 15. Corewell health has been recognized by the disability equality index as a top scorer for disability workplace inclusion.corewell health beaumont grosse pointe hospital was awarded the get with the guidelines stroke gold plus award by the american heart association for their proven dedication to provide all stroke patients with access to lifesaving care and treatment.corewell health was the bronze winner of the american hospital association excellence award for health care worker's well being.corewell health big rapids, ludington, pennock, and lakeland hospitals were awarded the maternity care of excellence award from the economic alliance for Michigan. Corewell health southeast liver transplant program has been recognized by the scientific registry of transplant recipients as having the best one year survival rates in the state of Michigan and second best one year graft survival rates in the nation.corewell health helen devos children's hospital has been recognized by u.s. News and world report as one of the best children hospital's in the nation ranking in the top 50 for cancer, endocrino

Financial Efficiency

• Mission deployment rate: 94.5%; rating input score 94
• Program expense ratio: 95.8%; rating input score 96
• Fundraising efficiency: $34.57 raised per $1 spent on fundraising; rating input score 68; 68th percentile among comparable filings

Transparency & Controls

• Consistency checks: 94.1%; rating input score 94; 28th percentile among comparable filings
• Pay-setting controls: 0 of 6 controls in place; rating input score 0
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Missing
• Foreign activity oversight: Scored; rating input score 0
• Grant itemization coverage: 99.7%; rating input score 100; 43rd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 54.1%; rating input score 54; 14th percentile among comparable filings
• Governance controls: 7 of 9 controls in place; rating input score 78
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 2.3%; rating input score 44; 44th percentile among comparable filings
• Total-asset coverage ratio: 0.6; rating input score 23; 23rd percentile among comparable filings
• Liabilities to assets ratio: 0.18; rating input score 72; 72nd percentile among comparable filings
• Officer compensation ratio: 0.1%; rating input score 94; 94th percentile among comparable filings

Growth

• Program expense growth: 15.8% per year; rating input score 100; 88th percentile among comparable filings
• Revenue growth: 14.8% per year; rating input score 100; 88th percentile among comparable filings
• Asset growth: 13.1% per year; rating input score 100; 81st percentile among comparable filings