Parkwest Medical Center

What it reported doing in 2024

Parkwest Medical Center ("Parkwest") admitted its first patient on December 10, 1973. It became a not-for-profit hospital in 1990 and became part of Covenant Health in 1996. Peninsula, a division of Parkwest Medical Center, ("Peninsula") is the behavioral services division of Parkwest and the region's largest provider of behavioral health services. Peninsula has a 119-bed hospital in Blount County providing mental health services for adolescents and adults. Peninsula also provides outpatient services in four counties. SERVICEWest Knoxville's largest medical center, Parkwest has an organizational culture focused on treating every patient and visitor with courtesy, compassion, and respect. It is best known for excellence in orthopedics, cardiology, surgical and behavioral health. Parkwest and Peninsula served 257,260 patients in 2024. Of these, 237,082 were outpatients and 20,178 were inpatients with an average length-of-stay of 4.54 days. PUTTING PATIENTS FIRSTIn 2024, Parkwest was recognized by U.S. News & World Report as #7 in its list of "Best Hospitals in Tennessee, and the #2 hospital in Knoxville metro area. Parkwest was rated as a "High-Performing" hospital by US News & World Report for COPD, colon cancer surgery, heart attack, heart bypass surgery, heart failure, hip replacement, knee replacement, prostate cancer surgery, and stroke care.BlueCross BlueShield gave the hospital a Blue Distinction Center+ designation for knee replacement and hip surgery, spine surgery, and maternity care, and a Blue Distinction Center designation for bariatric surgery. The Joint Commission has designated the hospital as an Advanced Primary Stroke Center, and Parkwest is a member of Covenant Health's stroke hospital network, which links Covenant Health's member hospitals in providing rapid diagnosis and treatment of stroke. Parkwest was recognized with a GoldPlus Stroke Quality Achievement Award by the American Heart Association/American Stroke Association. Parkwest has earned the GoldPlus Quality Award from the American Heart Association, recognizing consistent compliance with evidence-based quality measures for care of patients experiencing heart attacks, and a Gold award for non-STEMI quality measures.IMPROVING THE COMMUNITY'S QUALITY OF LIFE THROUGH BETTER HEALTHIn 2024 Parkwest provided over $219,000 worth of transportation, which includes payment to Priority Ambulance for patients to receive treatments, and taxi/transportation fares for patients who had been discharged and needed transportation home.In 2024 Parkwest participated in the Greater Knoxville Heart Walk, raising funds and awareness for heart disease. Parkwest also participates in local health fair screenings for area businesses and groups, providing carotid ultrasound screenings and physical therapy ergonomic education, as well as stroke education. In 2024 the employees at Parkwest also raised money for our internal employee chaplain's fund, which helps employees who are experiencing unusual or extraordinary financial needs.As a member of Covenant Health, Parkwest and Peninsula have adopted the "We Honor Veterans" program, recognizing and celebrating patients and employees in our facility who are veterans. When a patient is identified as a veteran they are recognized with a certificate and pinning ceremony.

Financial Efficiency

• Mission deployment rate: 98.3%; rating input score 98
• Program expense ratio: 98.6%; rating input score 99
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 92.3%; rating input score 92; 12th 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: 98.8%; rating input score 99; 37th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 95%; rating input score 95; 47th 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: 0.2%; rating input score 32; 32nd percentile among comparable filings
• Total-asset coverage ratio: 0.62; rating input score 24; 24th percentile among comparable filings
• Liabilities to assets ratio: 0.14; rating input score 77; 77th percentile among comparable filings
• Officer compensation ratio: 0.8%; rating input score 79; 79th percentile among comparable filings

Growth

• Program expense growth: 4.1% per year; rating input score 100; 31st percentile among comparable filings
• Revenue growth: 2.5% per year; rating input score 100; 18th percentile among comparable filings
• Asset growth: 3.5% per year; rating input score 100; 24th percentile among comparable filings