Ballad Health

What it reported doing in 2024

Wellmont Medical Associates, Inc. (WMA) is physician-led and professionally managed. From the WMA board of directors and leadership team members to the providers who care for patients every day, WMA's commitment to physician leadership is clear.WMA, a non-profit healthcare provider, delivers exceptional care to patients in the Tri-Cities region of Northeast Tennessee and Southwest Virginia. Based in Johnson City, Tennessee, as well as locations expanding from Sneedville, Tennessee, to Marion, Virginia, WMA offers the latest in technological advances to ensure patients receive superior care. Medical services provided by Wellmont Medical Associates include:- Primary care- OB/GYN- Surgery- Oncology- Outpatient and urgent care centers- Neurology- Pulmonology- Spine and rehabilitation- Behavioral health- Sleep center- Occupational medicine- Physical therapy- Pain management- Palliative medicine- Hospitalists- Endocrinology- Gastroenterology- Infectious Disease- Nephrology- Urology- Wound CareWMA is dedicated to improving the community's access to quality, affordable healthcare, educating the region's caregivers, improving the health status of the communities and contributing to the overall quality of life in the areas served.In fiscal year 2025, WMA had 668,114 patient encounters.Recognizing some patients cannot afford essential medical services, WMA incurred a loss of $2,764,796 attributable to the provision of charity care in fiscal year 2025.Additionally, WMA provided care to people covered by Medicare, Medicaid, TennCare and Champus at a loss. Due to mandated reductions in Medicare funding and declining reimbursement from TennCare, the shortfall between reimbursement and the cost of providing care to these patients totaled $49,566,872.It is WMA's obligation to support the causes that improve the quality of life in the region. WMA sponsored educational, community-based programs on healthy lifestyles, risk factor identification and options for diagnosis and treatment. Programs included:- Providing free medical care through the Remote Area Medical clinic- Offers pre-habilitation clinics free of charge- Supporting The Health Wagon in Wise, Virginia- Teaching at Lincoln Memorial University-DeBusk College of Osteopathic Medicine- Teaching at the University of Virginia's College at Wise- Participates in the Appalachian Highlands Regional Network- Working with Appalachian Mountain Project Access- Working with Friends In Need, a local nonprofit that provides primary care and dental care to the uninsured and underinsured as well as full-time college studentsWMA also participated in several health fairs and community screenings. Employees gave their time to area nonprofit organizations, which included United Way and the East Tennessee affiliate of Susan G. Komen for the Cure.

Financial Efficiency

• Mission deployment rate: 94.2%; rating input score 94
• Program expense ratio: 96.8%; rating input score 97
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 68th 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: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 0%; rating input score 0; 4th 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: 3.9%; rating input score 52; 52nd percentile among comparable filings
• Total-asset coverage ratio: 0.19; rating input score 6; 6th percentile among comparable filings
• Liabilities to assets ratio: 0.86; rating input score 15; 15th percentile among comparable filings
• Officer compensation ratio: 5.3%; rating input score 15; 15th percentile among comparable filings

Growth

• Program expense growth: 3.9% per year; rating input score 100; 30th percentile among comparable filings
• Revenue growth: 8.6% per year; rating input score 100; 71st percentile among comparable filings
• Asset growth: 19.8% per year; rating input score 100; 93rd percentile among comparable filings