Element Care Inc

What it reported doing in 2024

In june 2004 element care, along with glss and lchc became a member of the senior care options (sco) program, the parent organization is commonwealth care alliance. This is a state-run program similar to the pace program, where patients are cared for. However, cca is the direct recipient of the medicare and medicaid revenue. This program allows element care to reach a wider population, as the qualification to become a member of the sco program are more flexible than the pace program. Whereas pace requires all members to be "nursing home eligible", sco may allow for much healthier members to join the program, thereby giving element care the opportunity to assist these patients earlier. Element care is considered a primary care site and provides services to participants in the north shore, merrimack valley, and brighton, ma. Up until december 31, 2018, element care operated under a full risk model whereby, cca received medicare and medicaid reimbursement (similar to element care) and then remitted 86% of the premium received less claims expenses to element care. Element care in turn provided care management services to these participants, and remitted required funds to its vendors, including glss and lchc for the services they provide. Element care renegotiated its contract more recently with cca effective january 1, 2022, and now is reimbursed for case management services on a per member per month basis at a rate of $306 pmpm.element care has started negotiations for a new contract with cca.in 2023 element care completed construction on the new lynn site for participants and the administrative team. Construction was also completed on a new brighton site in august 2024. Element care maintains an investment in a pace center in Washington dc.

Financial Efficiency

• Mission deployment rate: 88.5%; rating input score 88
• Program expense ratio: 85%; rating input score 85
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 92.9%; rating input score 93; 17th percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 53.4%; rating input score 53; 11th percentile among comparable filings
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 77th 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: -5%; rating input score 13; 13th percentile among comparable filings
• Total-asset coverage ratio: 0.84; rating input score 33; 33rd percentile among comparable filings
• Liabilities to assets ratio: 0.3; rating input score 56; 56th percentile among comparable filings
• Officer compensation ratio: 2.7%; rating input score 43; 43rd percentile among comparable filings

Growth

• Program expense growth: 3.6% per year; rating input score 100; 27th percentile among comparable filings
• Revenue growth: 4.5% per year; rating input score 100; 37th percentile among comparable filings
• Asset growth: 6% per year; rating input score 100; 44th percentile among comparable filings