Salem Regional Medical Center

What it reported doing in 2024

SRMC's mission and purpose is achieved by providing quality care to the sick and injured on both an inpatient and outpatient basis, while addressing our patients' healthcare needs at each life stage, within our available resources. The Medical Center seeks to provide a broad range of diagnostic, inpatient, outpatient and emergency services appropriate for a community hospital, while ensuring that sufficient, high-quality primary and specialty physician services are available and accessible to residents of our service area. During fiscal year 2025, SRMC provided comprehensive healthcare services including: 1,917 Admissions; 2,580 Surgeries; and 17,269 Emergency Department visits. In support of this commitment, SRMC operates a full-time, 24-hour Emergency Department, and treats all patients requiring emergency medical care, irrespective of their financial means. The Medical Center also accepts all patients covered by Medicare, Medicaid and General Assistance. For fiscal year 2025, costs incurred by SRMC for unpaid costs of the Medicaid program were $3,467,752 and unreimbursed costs from other governmental programs were $1,027,814. These community benefits, arising from patient care provided by SRMC are documented to help to relieve a governmental financial and programmatic burden as evidenced through the Medical Center's charitable purpose. The organization also provided charitable support at a cost of $1,120,436 to patients who qualified.

Financial Efficiency

• Mission deployment rate: 82.4%; rating input score 82
• Program expense ratio: 85.6%; rating input score 86
• Fundraising efficiency: $0.76 raised per $1 spent on fundraising; rating input score 2; 2nd percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
• Pay-setting controls: 2 of 6 controls in place; rating input score 33
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Pass
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 93.8%; rating input score 94; 44th percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • 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: 7%; rating input score 64; 64th percentile among comparable filings
• Total-asset coverage ratio: 2.42; rating input score 69; 69th percentile among comparable filings
• Liabilities to assets ratio: 0.26; rating input score 60; 60th percentile among comparable filings
• Officer compensation ratio: 1.6%; rating input score 63; 63rd percentile among comparable filings

Growth

• Program expense growth: 2.9% per year; rating input score 100; 21st percentile among comparable filings
• Revenue growth: 1.4% per year; rating input score 100; 10th percentile among comparable filings
• Asset growth: 2.3% per year; rating input score 100; 16th percentile among comparable filings