Pace Partners of Northeast Florida Inc

What it reported doing in 2024

Pace partners of northeast Florida, inc dba pace place was approved by medicare, medicaid and the department of elder affairs to enroll its first participant on march 1, 2020. Opening its door to frail seniors was an idea that started over seven years earlier by community hospice and palliative care and aging true. Currently owned solely by community hospice and palliative care, pace continues this mission. Pace (program for all-inclusive care to the elderly) is a nationally recognized model of care designed for people 55 or older who require nursing-home-level care but would rather receive it at home or in the community rather than in a nursing home. Our clinic and beautiful adult day health center are located at 5450 ramona boulevard, jacksonville, fl 32205. Pace place #1 priority is to assist elders in maintaining their independence and providing support to remain at home. The pace team understands the demands of being a caregiver and helps with coordinating all care and services including transportation. Caregivers can relax knowing pace place is looking out for their loved ones. Pace place all-inclusive fully capitated benefit package includes: primary care, hospital care, medical specialty services, prescription drugs (medicare part d drugs), nursing home services, nursing services, personal care services, emergency services, home care, physical therapy, occupation therapy, adult day health care, recreational therapy, meals, dental care, nutritional counseling, social services, laboratory/x-ray, social work counseling, end of life care and transportation. Pace place provides all these services on a capitated monthly rate per participant that costs less than nursing home care and pace's receives less per participant per month from medicaid as compared to medicaid long term managed care companies. Payment for pace services can come from medicare, medicaid and private pay. Nationally, around one percent of all pace funding comes from private pay and the split between dually eligible (medicare and medicaid) and medicaid only is 87% dual and 13% medicaid only. The reimbursement in Florida is higher for dually eligible participants.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 81.9%; rating input score 82
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 1 of 6 controls in place; rating input score 17
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • 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: 25%; rating input score 25; 6th 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: -34.1%; rating input score 2; 2nd percentile among comparable filings
• Total-asset coverage ratio: 0.11; rating input score 2; 2nd percentile among comparable filings
• Liabilities to assets ratio: 3.41; rating input score 1; 1st percentile among comparable filings
• Officer compensation ratio: 2.1%; rating input score 76; 76th percentile among comparable filings

Growth

• Program expense growth: 33.3% per year; rating input score 100; 96th percentile among comparable filings
• Revenue growth: 34.5% per year; rating input score 100; 97th percentile among comparable filings
• Asset growth: 4.8% per year; rating input score 100; 34th percentile among comparable filings