Promedica Health System Inc

What it reported doing in 2024

Established in 1986, promedica health system, inc. (promedica) is a mission-based, locally owned, not-for-profit healthcare organization highly focused on achieving core values. Headquartered in toledo, Ohio, we are among the region's largest employers, promedica plays a significant role in economic development and stability in our region. We create a direct economic impact with our revenue, payroll and employment. Additionally, spending on services and materials with vendors in our region creates an indirect economic benefit. Based on needs that we have assessed within the communities we serve; promedica collaborates with the community on services and programs annually to help meet the growing demands of local consumers across all spectrums of life, including those individuals who are often the most vulnerable when it comes to health care: the elderly, poor and underserved.our physicians and providers, leadership team members, residents, and employees individually contribute personal resources to the community in numerous ways - such as through tutoring elementary students in reading and other life skills, providing health and wellness programming for our communities , generously contributing to community fundraising campaigns, serving on local not-for-profit boards, and donating nonperishable foods and clothing items to numerous local community organizations - underscoring a key benefit of promedica being locally owned and operated. Promedica's specialized care includes oncology, orthopaedics, heart and vascular, neurology, rehabilitative, and behavioral medicine, as well as women's services and pediatric care. A fundamental part of our mission is that our services are tailored to the needs of our communities, and they are available to everyone in our community, regardless of their ability to pay. Promedica goes beyond industry standards in meeting the goal of providing care to everyone, regardless of their ability to pay. We provide hospital care free-of-charge to all families without insurance with incomes at or below 200% of the federal poverty level. In addition to free care for those families under this federal poverty level, medically necessary services are provided at discounted rates based on a sliding scale depending on income level and insurance status.in summary, promedica demonstrates its mission and core values by providing high-quality health care to all patients, regardless of their race, creed, sex, national origin, disability, or age. And we recognize that not all individuals possess the ability to purchase essential medical care. Therefore, we provide these health care services; recruit and train health care professionals to serve the broader community; provide appropriate financial assistance; offer services and contributions to other nonprofit organizations that allow them to provide key services to their constituents; and present free educational classes, health fairs and other activities to our local community to help ensure all members have equal access to care.

Financial Efficiency

• Mission deployment rate: 61.8%; rating input score 62
• Program expense ratio: 58.1%; rating input score 58
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 92.3%; rating input score 92; 12th 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: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Scored; rating input score 0
• Grant itemization coverage: 59.5%; rating input score 59; 12th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 38.5%; rating input score 38; 11th 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: -12%; rating input score 7; 7th percentile among comparable filings
• Total-asset coverage ratio: 3.02; rating input score 76; 76th percentile among comparable filings
• Liabilities to assets ratio: 0.25; rating input score 62; 62nd percentile among comparable filings
• Officer compensation ratio: 5.3%; rating input score 15; 15th percentile among comparable filings

Growth

• Program expense growth: 6.3% per year; rating input score 100; 51st percentile among comparable filings
• Revenue growth: -0.3% per year; rating input score 0; 5th percentile among comparable filings
• Asset growth: -2.3% per year; rating input score 0; 4th percentile among comparable filings