Providence Plan Partners

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. Realizing our missionprovidence plan partners (ppp) fulfills its social welfare purposes by furthering the healthcare services provided by its affiliates providence health plan (php) and providence health assurance (pha). Both are regulated health plans with activity in Oregon and Washington, and are recognized as exempt under irc sec. 501(c)(4). Ppp operates as an integral part of php and pha, providing operational oversight, leadership, policymaking, management and support services, and strategic planning. Without ppp, php and pha would need to perform these services for themselves. Therefore, by providing these operational services, ppp allows php and pha to free up and re-allocate resources in order to improve quality and breadth of healthcare services to the surrounding community. In addition, because of ppp's presence, php and pha can perform initiatives that lead to the improvement of healthcare through the study, treatment, and remedy of human diseases and disorders.bringing a wide network of healthcare providers to bear in a managed care program that is subject to the control of a non-profit health system creates an integrated non-profit healthcare delivery organization. In particular, this structure affords the program and its participants significant benefits from cost efficiencies, improved coordination of care and management, and greater access to specialized services not usually found in rural areas. The programs will also foster strengthened management and improved access to sophisticated services available through the system and its affiliated clinicians.ppp provides php and pha with operational oversight, including providing employees to both entities. Ppp emplo

Financial Efficiency

• Mission deployment rate: 55.9%; rating input score 56
• Program expense ratio: 54.7%; rating input score 55
• 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: 50.9%; rating input score 51; 10th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 60%; rating input score 60; 16th 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: -2.1%; rating input score 19; 19th percentile among comparable filings
• Total-asset coverage ratio: 0.15; rating input score 4; 4th percentile among comparable filings
• Liabilities to assets ratio: 0.46; rating input score 40; 40th percentile among comparable filings
• Officer compensation ratio: 0.2%; rating input score 90; 90th percentile among comparable filings

Growth

• Program expense growth: 22.2% per year; rating input score 100; 93rd percentile among comparable filings
• Revenue growth: 23.9% per year; rating input score 100; 95th percentile among comparable filings
• Asset growth: 12.3% per year; rating input score 100; 79th percentile among comparable filings