Pacific Medical Centers

What it reported doing in 2024

See schedule oat providence, we use our voice to advocate for vulnerable populations and needed reforms in health care. We are also pursuing innovative ways to transform health care by keeping people healthy, and making our services more convenient, accessible and affordable for all. In an increasingly uncertain world, we are committed to high-quality, compassionate health care for everyone - regardless of coverage or ability to pay. We help people and communities benefit from the best health care model for the future - today.together, our 125,000 caregivers (all employees) serve in 51 hospitals, 1,014 clinics and a comprehensive range of health and social services across Alaska, California, Montana, New Mexico, Oregon, Texas and Washington. The providence affiliate family includes:-providence across five western states-covenant health in west Texas and New Mexico-facey medical group in los angeles, ca-kadlec in southeast Washington-pacific medical centers in seattle, wa-swedish health services in seattle, wa in 2024, providence ministries and affiliates provided $1.9 billion in community benefit programs. This includes free and discounted care, uncompensated and subsidized care, and other community health activities.one of these vital programs, medicaid, is a lifeline for millions of individuals, including seniors, children, pregnant patients, those with disabilities and veterans. We are grateful to everyone in our communities who has joined us in advocating for continued funding and expansion of this program. Together, we are helping to ensure more people have access to needed care.for more information go to: https://www.providence.org/about/annual-reportthrough our community benefit programs, we focus on meeting the diverse needs of the people we serve by working to ensure basic health needs are met, removing barriers to care, building community resilience and innovating for the future. Providence continues to work towards carbon negative and in 2024 decreased emissions by 19 percent compared to our 2019 baseline. Our efforts earned us a system record 55 environmental excellence awards from practice greenhealth and made us the first large system to receive the joint commission's sustainable healthcare certification in 2024 for each of our hospitals.program service accomplishments.care for medically underserved or underinsured.pacific medical centers (pacmed) remains committed to advocating, educating, and providing extraordinary care to all individuals, especially those who are medically underserved or unable to afford healthcare services. We proactively support this mission in various ways. Pacmed has a long-standing commitment to delivering care to uninsured and underinsured patients across king, pierce, and snohomish counties. Throughout our history, we have concentrated on offering specialized services that are frequently required by these individuals, including oncology, otolaryngology, urology, ophthalmology, and pulmonology. We are also dedicated to supporting medical education and training the next generation of healthcare professionals, including nurse practitioners and physician assistants. Over 50 of our providers are actively engaged in teaching, with more than half holding clinical faculty status at the university of Washington. Additionally, we participate in extern programs for medical assistant and medical technician training. Our commitment to medical education reflects our belief in community service, excellence, continuous learning, and responsible resource management. Pacmed is investing in health equity, recognizing that various factors contribute to health disparities. We firmly believe that everyone deserves healthcare that acknowledges and actively works to counter these inequities. To this end, we have established a health equity council and formed a dedicated health equity team. This team identifies health disparities within our patient population, strategizes solutions, and conducts outreach to en

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 93.2%; rating input score 93
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 92.9%; rating input score 93; 17th 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: 99.1%; rating input score 99; 38th percentile among comparable filings
• Major donor itemization: Limited
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 100%; rating input score 100; 77th 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: -6.3%; rating input score 11; 11th percentile among comparable filings
• Total-asset coverage ratio: 0.36; rating input score 12; 12th percentile among comparable filings
• Liabilities to assets ratio: 0.45; rating input score 40; 40th percentile among comparable filings
• Officer compensation ratio: 2%; rating input score 55; 55th percentile among comparable filings

Growth

• Program expense growth: 5.9% per year; rating input score 100; 48th percentile among comparable filings
• Revenue growth: 4.3% per year; rating input score 100; 35th percentile among comparable filings
• Asset growth: 3% per year; rating input score 100; 20th percentile among comparable filings