Health First

What it reported doing in 2024

Health first's viera hospital (vh) opened in april of 2011 and features a 20-bed intensive care unit, and full medical and surgical capabilities. The hospital has 98 all-private patient rooms, which includes a 14-bed birth suite, inpatient diagnostic services and vitalwatch eicu which combines telemedicine, software, and 24/7 electronic-monitoring technology. With over 240 physicians in more than 30 specialties, vh offers da vinci robotic surgery and has been recognized as a urogynecology center of excellence in continence care for women and as an accredited comprehensive center metabolic and bariatric surgery and quality improvement program. Vh received a 5-star rating by the centers for medicare & medicaid services in 2023 and is accredited by the joint commission as a primary stroke center. Vh was also named to newsweek's america's best-in-state hospitals 2024 list. It is one of 600 hospitals nationally, one of 22 hospitals in Florida, and one of only two in Florida who received the patient satisfaction award.as part of the u.s. News & world report top hospitals list, vh earned a high performance rating for both hip replacement and knee replacement.the radiology services feature state-of-the-art, personalized services, including digital mammography, x-ray, mri, ct, ultrasound, nuclear medicine, cardiac imaging, and is accredited by the american college of radiology.vh is the cornerstone of the viera health park campus which includes two other integrated healthcare facilities within walking distance of one another, the viera medical plaza, which includes a health first pharmacy location, health first diagnostic center (outpatient testing), health first physician offices, health first cancer institute, and health first's pro-health & fitness center. Located inside health first's pro-health & fitness center is cardiac and pulmonary rehabilitation.vh provides quality medical healthcare regardless of race, creed, gender, national origin, disability, age, or ability to pay, although reimbursement for services rendered is critical to the operation and stability of vh.it is recognized that not all individuals possess the ability to purchase essential medical services and that our mission is to serve the community with respect to providing healthcare services and healthcare education.in keeping with the hospital's commitment, to serve all members of its community:(1) free care and/or subsidized care is provided where the need and/orinability to pay exists as determined by health first's financial assistance policy.(2) care is provided at below cost to persons covered by governmentalprograms such as medicare and medicaid. (3) free wellness and health activities and programs are provided to the community. These activities include wellness programs, community education programs, special programs for elderly, handicapped, andmentally underserved along with a variety of broad community support activities.as a not-for-profit hospital, vh is supported in part by contributions to the health first foundation.

Financial Efficiency

• Mission deployment rate: 65.6%; rating input score 66
• Program expense ratio: 89.1%; rating input score 89
• 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: 24.7%; rating input score 25; 7th percentile among comparable filings
• Major donor itemization: Limited
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 81.8%; rating input score 82; 29th 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: 26.4%; rating input score 91; 91st percentile among comparable filings
• Total-asset coverage ratio: 8.63; rating input score 90; 90th percentile among comparable filings
• Liabilities to assets ratio: 0.49; rating input score 37; 37th percentile among comparable filings
• Officer compensation ratio: 0.6%; rating input score 83; 83rd percentile among comparable filings

Growth

• Program expense growth: 5.1% per year; rating input score 100; 42nd percentile among comparable filings
• Revenue growth: 7.5% per year; rating input score 100; 64th percentile among comparable filings
• Asset growth: 6.4% per year; rating input score 100; 47th percentile among comparable filings