Covenant Homecare and Hospice

What it reported doing in 2024

Covenant HomeCare provides services and treatment for patients who need to receive care in a home environment. Services consist of nursing, physical therapy, occupational therapy, speech therapy, social services and care given by certified nursing assistants. Patients include those covered by Medicare, TennCare and commercial insurance, as well as self-pay patients. No patient is denied care because of an inability to pay. Applications for financial assistance are provided to patients who need them, and financial counselors are available to assist with the application process. Covenant HomeCare serves a 17-county region in East Tennessee. Covenant HomeCare served 4,858 patients in 2024 in the course of 81,096 patient visits.KARM Transitional Care was created through a partnership between Covenant HomeCare and Knox Area Rescue Ministries to provide a safe place for individuals experiencing homelessness to continue healing after a hospital stay. The goal is to improve patient outcomes through supervised continuity of care, ultimately reducing the patient's risk of developing subsequent illnesses or infections requiring additional hospital treatment. Funded by the Covenant Health Foundation (formerly Fort Sanders Foundation), this service helps fulfill Covenant Health's mission of improving the quality of life through better health in the communities we serve. Covenant HomeCare treated 35 patients in 2024. Covenant HomeCare provides hospice services which include patient care and family support in the home environment during the patient's end stages of life. Services are provided to patients whose physicians have diagnosed them with a terminal medical condition that is expected to result in death within six months of being taken under care. The objective is to allow these patients to die at home with dignity. Services provided in the home consist of nursing care, therapy, spiritual services and social services. Hospice services are provided to patients covered by Medicare, TennCare and commercial insurance, as well as self-pay patients. No patient is denied care due to an inability to pay. Applications for financial assistance are provided to patients if needed, and financial counselors are available to assist with the application process. Covenant HomeCare served 1,572 hospice patients and made 24,511 visits in 2024.Covenant HomeCare and Hospice is proud to be a Level 5 Partner (the top tier) of We Honor Veterans. This program of the National Hospice and Palliative Care Organization (NHPCO), in collaboration with the Department of Veterans Affairs (VA), invites hospices, state hospice organizations, hospice-veteran partnerships and VA facilities to join a pioneering initiative focused on respectful inquiry, compassionate listening and grateful acknowledgment. By recognizing the unique needs of America's veterans and their families, community providers, in partnership with VA staff, learn how to accompany and guide them through their life stories toward a more peaceful ending.Palliative care is a medical specialty focusing on management of symptoms in patients with acute, chronic or life-threatening illness, regardless of the diagnosis. These symptoms might include, but are not limited to, pain, nausea, shortness of breath, fluid retention, etc. Palliative care strives to help patients better understand their treatment options and customizes treatments to meet individual needs. The goal is to promote the highest quality of life for patients and their families. Palliative care can be delivered any time during a patient's illness, including while receiving hospital care, and can be provided in conjunction with all other medical treatments. The Palliative Care team provided 9,423 visits in 2024. COVENANT HEALTHCovenant HomeCare is a member of Covenant Health. Covenant Health is a community-owned, clinically integrated healthcare enterprise dedicated to being the region's premier healthcare network through service, community, and inn

Financial Efficiency

• Mission deployment rate: 91.4%; rating input score 91
• Program expense ratio: 89.2%; rating input score 89
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd 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: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 95%; rating input score 95; 28th 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: -2.5%; rating input score 22; 22nd percentile among comparable filings
• Total-asset coverage ratio: 0.13; rating input score 3; 3rd percentile among comparable filings
• Liabilities to assets ratio: 1.66; rating input score 2; 2nd percentile among comparable filings
• Officer compensation ratio: 6.7%; rating input score 38; 38th percentile among comparable filings

Growth

• Program expense growth: 3.4% per year; rating input score 100; 29th percentile among comparable filings
• Revenue growth: 4% per year; rating input score 100; 35th percentile among comparable filings
• Asset growth: -2.2% per year; rating input score 0; 5th percentile among comparable filings