Iroquois Memorial Hospital

What it reported doing in 2024

Iroquois memorial hospital and resident home provides high quality medical health care regardless of race, creed, sex, national origin, handicap, age, or ability to pay. Although reimbursement for services rendered is critical to the operation and stability of the hospital, it is recognized that not all individuals possess the ability to purchase essential medical health care services and health care education. Therefore, in keeping with the hospital's commitment to serve all members of our community, some care is provided to persons covered by governmental programs at below cost. The community will be considered where the need and/or an individual's inability to pay exist. These activities include prevention and wellness programs, community education programs, and special programs for the elderly, handicapped, and the medical underserved including a variety of broad community support activities.the hospital is located in watseka, Illinois and serves the surrounding communities in iroquois county and west-central Indiana. There are outpatient clinics maintained in gilman, milford, st anne, and watseka, Illinois as well as kentland, Indiana. The hospital provides beds for acute care, intensive care, nursery, and long-term care. The hospital also provides ambulance services to most of iroquois county with stations in gilman and watseka. Home health and hospice provide services to watseka and surrounding communities in the hospital's service area. The iroquois regional health center houses physical, occupational, and speech therapies. The hospital is certified to provide care to persons covered by governmental programs. Recognizing its mission to the community, service are provided to both medicare and medicaid patients. To the extent reimbursement is below cost, the hospital records these amounts as uncompensated care in meeting its mission to the entire community.iroquois memorial hospital provides non-traditional hospital based services such as ambulance coverage to watseka and the surrounding iroquois county communities. In addition to the costs of uncompensated care and other non-traditional services, iroquois memorial hospital & resident home committed significant time and resources to endeavors and other critical services which meet otherwise unfilled community needs. Some of those programs that further the hospital's mission include: - ambulance support for sporting events and surrounding volunteers- ambulance departments- blood drives- breast cancer awareness event- breast-feeding classes for expectant mothers- camp 911 safety programs for area school children- farm safety education- first aid for locally community events- free and reduced fee health screenings- free blood pressure screenings- free cpr training for the public- go red healthy heart event- health-related articles in local publications- birthing classes- lifeline- meals on wheels- speaker's bureau- tours for area school children

Financial Efficiency

• Mission deployment rate: 75.1%; rating input score 75
• Program expense ratio: 77.2%; rating input score 77
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 92.9%; rating input score 93; 10th percentile among comparable filings
• Pay-setting controls: 2 of 6 controls in place; rating input score 33
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Pass
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • 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: 2.6%; rating input score 45; 45th percentile among comparable filings
• Total-asset coverage ratio: 0.48; rating input score 15; 15th percentile among comparable filings
• Liabilities to assets ratio: 0.47; rating input score 31; 31st percentile among comparable filings
• Officer compensation ratio: 4.3%; rating input score 57; 57th percentile among comparable filings

Growth

• Program expense growth: 0.6% per year; rating input score 100; 13th percentile among comparable filings
• Revenue growth: 1.1% per year; rating input score 100; 12th percentile among comparable filings
• Asset growth: -2.3% per year; rating input score 0; 5th percentile among comparable filings