CHARLESTOWN, MA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)MEDICAL CARE OF BOSTON MANAGEMENT CORP, founded in 1983, is a major nonprofit in the Health Care sector that reported $116.6M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $167.0M exceeded revenue, resulting in a 43% operating deficit.
FROM TIME TO TIME AND UNDER CERTAIN CIRCUMSTANCES, MEDICAL CARE OF BOSTON MANAGEMENT CORP OR ONE OF IT'S AFFILIATES MAY CHOOSE TO GROSS-UP A PAYMENT TO MAKE THE EMPLOYEE WHOLE FROM A TAX PERSPECTIVE. AS EXPLAINED FURTHER BELOW, ACROSS BILH THESE SITUATIONS ARE REVIEWED ON A CASE-BY-CASE BASIS AND THE COST OF ANY GROSS-UP IS CONSIDERED WHEN REVIEWING AN EMPLOYEE'S OVERALL COMPENSATION PACKAGE FOR REASONABLENESS. EXAMPLES OF THE TYPES OF EXPENSES WHICH MAY FALL INTO THIS CATEGORY ARE REIMBURSEMENT FOR RELOCATION AND TEMPORARY HOUSING. A HOUSING ALLOWANCE WAS PROVIDED TO ONE OFFICER DURING THE YEAR. THIS BENEFIT WAS TREATED AS PART OF THEIR TAXABLE COMPENSATION.
AS NOTED THROUGHOUT THIS FORM 990, MEDICAL CARE OF BOSTON MANAGEMENT CORP D/B/A BETH ISRAEL LAHEY HEALTH PRIMARY CARE A/K/A AFFILIATED PHYSICIANS GROUP (BILHPC), IS A NOT-FOR-PROFIT PHYSICIAN GROUP...
AS NOTED THROUGHOUT THIS FORM 990, MEDICAL CARE OF BOSTON MANAGEMENT CORP D/B/A BETH ISRAEL LAHEY HEALTH PRIMARY CARE A/K/A AFFILIATED PHYSICIANS GROUP (BILHPC), IS A NOT-FOR-PROFIT PHYSICIAN GROUP AND MEMBER OF THE BETH ISRAEL LAHEY HEALTH NETWORK OF AFFILIATES. BILHPC IS A NETWORK OF COMMUNITY-BASED PHYSICIANS AFFILIATED WITH BETH ISRAEL LAHEY HEALTH AND PROVIDING CARE IN CONJUNCTION WITH, AND IN THE COMMUNITIES SERVED BY, BETH ISRAEL DEACONESS MEDICAL CENTER (BIDMC). THESE PRACTICES ARE COMMITTED TO IMPROVING THE HEALTH OF THE COMMUNITIES SERVED BY BILHCP AND BIDMC BY PROVIDING HIGH QUALITY, PERSONALIZED HEALTH CARE WITH COMPASSION, DIGNITY AND RESPECT FOR PATIENT RIGHTS IN A COST EFFECTIVE AND SAFE ENVIRONMENT AND IS DEDICATED TO PROVIDING CARE TO PATIENTS IN THE COMMUNITIES WHERE THEY LIVE AND WORK, PROVIDING CARE TO IN THE COMMUNITY TO MEDICARE, MEDICAID AND ALL OTHER PATIENTS REGARDLESS OF THEIR RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, NATIONAL ORIGIN, ANCESTRY, AGE, OR DISABILITY. DURING THE PERIOD COVERED BY THIS FILING, BILHPC PROVIDED PRIMARY CARE TO ITS PATIENTS. IN ADDITION, WHEN ADVANCED CARE IS NEEDED, BILHPC PROVIDES LEADING EDGE TREATMENT AT ITS AFFILIATE, AJH AND LEADING-EDGE TREATMENT FROM BETH ISRAEL DEACONESS MEDICAL CENTER (BIDMC) OR LAHEY HOSPITAL & MEDICAL CENTER AS WELL AS AND OTHER BILH AFFILIATES. LAHEY HOSPITAL & MEDICAL CENTER (LHMC) OR BETH ISRAEL DEACONESS MEDICAL CENTER (BIDMC), EACH A LEVEL I TRAUMA CENTER AND PROVIDE TERTIARY CARE AND CARE IN A WIDE RANGE OF SPECIALTIES. PRIMARY CARE BILHPC WITH 261 PHYSICIANS THAT SPECIALIZE IN THE DELIVERY OF PRIMARY CARE AND PROVIDING CARE IN AMESBURY, ANDOVER, BRAINTREE, BROOKLINE, CANTON, CHELSEA, CHESTNUT HILL, DEDHAM, DORCHESTER, DUXBURY, HAVERHILL, JAMAICA PLAIN, LEXINGTON, MEDFIELD, METHUEN, MIDDLEBORO, MILTON, NEEDHAM, NEWBURYPORT, NEWTON, PEMBROKE, AND PLYMOUTH, QUINCY, RANDOLF, SANDWICH, WALTHAM, WAYLAND, WELLESLEY, MASSACHUSETTS ASWELL AS SALEM AND SEABROOK, NH SERVED BY BILHPC AND BIDMC. PRIMARY CARE PHYSICIANS (PCPS) ARE COMMUNITY-BASED MEDICAL DOCTORS WHO GENERALLY PROVIDE THE FIRST CONTACT FOR A PATIENT WITH A NON-EMERGENT UNDIAGNOSED HEALTH CONCERN, AS WELL AS CONTINUING CARE FOR A VARIETY OF MEDICAL CONDITIONS. DURING THE FISCAL YEAR COVERED BY THIS FILING, BILHPC HAD 450,630 PRIMARY CARE / FAMILY CARE PATIENT VISITS. IN ADDITION TO THE ACCOMPLISHMENTS NOTED ABOVE FOR MEDICAL CARE OF BOSTON MANAGEMENT CORP., AND AS NOTED THROUGHOUT THIS FORM 990, MEDICAL CARE OF BOSTON MANAGEMENT CORP. IS A MEMBER OF THE BETH ISRAEL LAHEY HEALTH (BILH) NETWORK OF AFFILIATES. THE BILH CORE VALUES AND PRINCIPALS ARE LISTED HERE AS WELL AS NETWORK-WIDE ACCOMPLISHMENTS DURING THE FISCAL PERIOD COVERED BY THIS FILING. THE BILH NETWORK IS DELIVERING ON THE PROMISE TO BILH PATIENTS AND COMMUNITIES TO EXPAND ACCESS AND PROVIDE EXTRAORDINARY CARE, WHILE ALSO ADVANCING MEDICINE THROUGH DISCOVERY AND EDUCATION. THE BILH PURPOSE STATEMENT ARTICULATES THE IMPACT THAT EACH BILH AFFILIATE STRIVES TO MAKE IN THE COMMUNITIES SERVED. THESE SHARED VALUES GUIDE EACH ENTITY'S DAILY EFFORTS AND KEEP EACH AFFILIATE ALIGNED IN THE PURSUIT OF THE BILH PURPOSE, SHOWING HOW "WE CARE" FOR PATIENTS, EACH OTHER AND THE COMMUNITIES SERVED. PURPOSE STATEMENT: BILH CREATES HEALTHIER COMMUNITIES ONE PERSON AT A TIME THROUGH SEAMLESS CARE AND GROUND-BREAKING SCIENCE, DRIVEN BY EXCELLENCE, INNOVATION AND EQUITY. BILH WE CARE VALUES: WELLBEING. WE PROVIDE A HEALTH-FOCUSED WORKPLACE AND SUPPORT A HEALTHY WORK-LIFE BALANCE. EMPATHY. WE DO OUR BEST TO UNDERSTAND OTHERS' FEELINGS, NEEDS AND PERSPECTIVES. COLLABORATION. WE WORK TOGETHER TO ACHIEVE EXTRAORDINARY RESULTS. ACCOUNTABILITY. WE HOLD OURSELVES AND EACH OTHER TO BEHAVIORS NECESSARY TO ACHIEVE OUR COLLECTIVE GOALS. RESPECT. WE VALUE DIVERSITY AND TREAT ALL MEMBERS OF OUR COMMUNITY WITH DIGNITY AND INCLUSIVENESS. EQUITY. EVERYONE HAS THE OPPORTUNITY TO ATTAIN THEIR FULL POTENTIAL IN OUR WORKPLACE AND THROUGH THE CARE WE PROVIDE. BILH IS ACCOMPLISHING THIS MISSION BY PROVIDING SUPPORT TO ITS AFFILIATES WHICH INCLUDE: 1. A PHYSICIAN ENTERPRISE THAT ENCOMPASSES THE SYSTEM'S NETWORK OF EMPLOYED PRIMARY CARE AND SPECIALTY PHYSICIANS LOCATED THROUGHOUT OUR REGION; 2. A HOSPITAL AND AMBULATORY SERVICES GROUP THAT INCLUDES WORLD-CLASS ACADEMIC MEDICAL CENTERS AND TEACHING HOSPITALS WITH AFFILIATIONS WITH HARVARD MEDICAL SCHOOL, UM AND TUFTS UNIVERSITY SCHOOL OF MEDICINE; LEADING COMMUNITY HOSPITALS; A RENOWNED ORTHOPEDICS HOSPITAL; AND COMPREHENSIVE AMBULATORY CENTERS; 3. A POPULATION HEALTH ENTERPRISE THAT EMBRACES A MODEL OF CARE TO IMPROVE THE HEALTH OF ALL THOSE SERVED BY BILH; THE POPULATION HEALTH DOMAIN INCLUDES THE SYSTEM'S CLINICALLY INTEGRATED NETWORK OF AFFILIATED PROVIDERS AND VITAL SERVICES, INCLUDING BEHAVIORAL HEALTH AND HOME CARE SERVICES; 4. A ROBUST NETWORK OF ADMINISTRATIVE AND OPERATIONAL SERVICES TO ADVANCE STRATEGIC GOALS, BOTH LOCALLY AND AT THE SYSTEM LEVEL, THAT OFFERS EXPERTISE AND STANDARDIZED RESOURCES BASED ON BEST PRACTICES. DURING THE FISCAL PERIOD COVERED BY THIS FILING, BETH ISRAEL LAHEY HEALTH (BILH) SERVED AS THE SOLE MEMBER OF BETH ISRAEL DEACONESS MEDICAL CENTER, INC. (BIDMC), MOUNT AUBURN HOSPITAL (MAH), NEW ENGLAND BAPTIST HOSPITAL (NEBH), BETH ISRAEL DEACONESS HOSPITAL -- MILTON, INC. (MILTON), BETH ISRAEL DEACONESS HOSPITAL -- NEEDHAM, INC. (NEEDHAM), BETH ISRAEL DEACONESS HOSPITAL -- PLYMOUTH, INC. (PLYMOUTH), LAHEY HEALTH SHARED SERVICES (LHSS), LAHEY CLINIC FOUNDATION (LCF), WINCHESTER HOSPITAL (WINCHESTER), NORTHEAST HOSPITAL CORPORATION (NHC) WHICH INCLUDES BEVERLY, ADDISON GILBERT AND BAYRIDGE HOSPITALS, NORTHEAST BEHAVIORAL CORPORATION (NBHC), ANNA JAQUES HOSPITAL (AJH), THE BETH ISRAEL LAHEY HEALTH PERFORMANCE NETWORK (BILHPN), THE JOSLIN DIABETES CENTER, EXETER HEALTH RESOURCES, INC (EHRI) AND THE BETH ISRAEL LAHEY HEALTH PHARMACY. THE LAHEY CLINIC FOUNDATION IN TURN SERVED AS THE SOLE MEMBER OF LAHEY CLINIC INC, AND LAHEY CLINIC HOSPITAL D/B/A LAHEY HOSPITAL AND MEDICAL CENTER (LHMC), EHRI IN TURN SERVED AS THE SOLE MEMBER OF EXETER HOSPITAL AND LHSS IN TURN SERVED AS THE SOLE MEMBER OF BETH ISRAEL LAHEY HEALTH PRIMARY CARE. THE ENTITIES LISTED HERE MAY HAVE ALSO, IN TURN, SERVED AS MEMBER TO OTHER NETWORK AFFILIATES. SEE FORM 990 SCHEDULE R FOR ADDITIONAL AFFILIATED ENTITIES. BILH PROVIDES CENTRALIZED SUPPORT TO ITS NETWORK OF SUPPORTED ORGANIZATIONS. BILH SUPPORT INCLUDES, BUT IS NOT LIMITED TO, THE FOLLOWING SERVICES: DEVELOPMENT AND FUNDRAISING, STRATEGIC PLANNING, COMPLIANCE, GOVERNANCE AND LEGAL SUPPORT, HUMAN RESOURCES, PATIENT CARE PAYOR CONTRACTING, OPERATIONAL SUPPORT SUCH AS PROCESSING PAYROLL AND ACCOUNTS PAYABLE, NETWORK-WIDE BENEFIT PLAN STRUCTURING AND NETWORK-WIDE CASH MANAGEMENT. BILH OVERSEES THE FINANCIAL WELL-BEING OF ITS AFFILIATES, INCLUDING PROVIDING MANAGEMENT, LEADERSHIP, DEBT STRUCTURING SUPPORT, FINANCING OF CAPITAL PROJECTS THROUGH ITS OBLIGATED GROUP DEBT AND FINANCIAL SUPPORT SERVICES, INCLUDING INTERNAL AND EXTERNAL AUDIT, TREASURY, INSURANCE AND TAX SERVICES. FOR THE FISCAL PERIOD COVERED BY THIS FILING BILH, INC. PROVIDED SERVICES AND SUPPORT TO ITS AFFILIATES, IN THE AMOUNT OF $15,835,226,845. ADDITIONAL DETAIL ABOUT ACCOMPLISHMENTS ACROSS BILH ARE BELOW. BILH NETWORK ACCOMPLISHMENTS AND ACTIVITIES FISCAL YEAR ENDED SEPTEMBER 30, 2024 BILH'S SUPPORT OF ITS AFFILIATES ENABLES THE NETWORK AS A WHOLE TO ACCOMPLISH ITS PRIMARY MISSION OF IMPROVING THE HEALTH OF PATIENTS, THEIR FAMILIES AND THE COMMUNITIES SERVED. AS NOTED PREVIOUSLY IN THIS FILING, BILH STRIVES TO ACCOMPLISH THIS MISSION BY DELIVERING THE HIGH-QUALITY HEALTH CARE THAT EVERY PATIENT DESERVES. BILH BELIEVES THAT EFFECTIVE CARE IS EASILY ACCESSIBLE AND SIMPLE TO USE SO IT IS BILH'S FOCUS TO PROVIDE PATIENTS WITH CARE THAT IS IN CLOSE PROXIMITY AND CONVENIENT REGARDLESS OF WHERE PATIENTS LIVE, THEIR HEALTH HISTORY OR STAGE OF LIFE AND BILH IS ACCOMPLISHING THIS GOAL BY PROVIDING SUPPORT TO EACH OF ITS AFFILIATES, PROVIDING AN ORGANIZATIONAL STRUCTURE AND OPERATING MODEL WHICH IS DRIVEN BY FOUR DEEPLY INTERCONNECTED DOMAINS DESIGNED TO ADVANCE MEANINGFUL PARTNERSHIPS ACROSS ORGANIZATIONS, CARE SETTINGS, SPECIALTIES, AND GEOGRAPHIES TO ENSURE BILH PATIENTS RECEIVE THE CARE THEY NEED IN THE COMMUNITIES WHERE THEY LIVE AND WORK. PATIENT CARE DELIVERY ACROSS THE BILH NETWORK -- FISCAL YEAR ENDED SEPTEMBER 30, 2024 HOSPITAL CARE: DURING THE PERIOD COVERED BY THIS FILING, THE BILH HOSPITALS PROVIDED CARE TO PATIENTS IN A FULL SPECTRUM OF SPECIALTIES AND UTILIZING A WIDE RANGE OF MODALITIES. BELOW ARE A SAMPLE OF THE HOSPITAL CARE PROVIDED TO BILH PATIENTS. DURING THE FISCAL YEAR COVERED BY THIS FILING, BILH HOSPITALS HAD APPROXIMATELY 4.9 MILLION OUTPATIENT ENCOUNTERS. APPROXIMATELY 80,000 OUTPATIENT/AMBULATORY SURGERIES AND OVER 100,000 ENDOSCOPIES WERE PERFORMED, IN ADDITION, ACROSS BILH HOSPITALS PATIENTS HAD MORE THAN 141,000 ONCOLOGY VISITS
ONE OR MORE INDIVIDUALS LISTED IN THIS FORM 990, SCHEDULE J, COMPENSATION INFORMATION, RECEIVED SEVERANCE PAYMENTS. ADDITIONAL INFORMATION IS INCLUDED WITH THE EXPLANATORY NOTES TO SCHEDULE J BELOW.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $116,567,341 | $103,570,844 | +0.1% |
| Expenses | $167,031,444 | $142,201,859 | +0.2% |
| Net Income | $-50,464,103 | $-38,631,015 | +0.3% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| SHORETT PETER | TTEE (SR EXECUTIVE VP & COO, BILH) | 1.00 |
Director
|
$0 | $48,246 | $1,607,722 |
| FIELDS MD ROBERT | CHAIR PRES&TTEE (CHF CLIN OFF BILH) | 1.00 |
Officer
Director
|
$0 | $31,658 | $1,281,307 |
| JOHNSON MD MS FACP ELIZABETH | CHAIR, TTEE; (PRES, BILH PRIM CARE) | 1.00 |
Officer
Director
|
$0 | $104,587 | $894,582 |
| SNEVA JEB | ASST TREAS & TTEE (CFO, BILHPC) | 55.00 |
Officer
Director
|
$278,549 | $125,683 | $404,232 |
| FISHMAN AARON | ASST TREAS & TTEE (CFO, BILHPC) | 1.00 |
Officer
Director
|
$0 | $32,186 | $271,757 |
| STANSKY KATHLEEN J | TTEE & INT CFO (DIR, FP&A BILHPC) | 1.00 |
Officer
Director
|
$0 | $37,453 | $214,853 |
| RIOS CINDY | TREAS (EXECUTIVE VP & CFO, BILH) | 1.00 |
Officer
|
$0 | $217,736 | $1,689,163 |
| KATZ ESQ JAMIE | CLERK; GENERAL COUNSEL, BILH | 1.00 |
Officer
|
$0 | $32,002 | $1,302,177 |
| JOSEPH ESQ LESLIE | ASST CLERK (AVP, ASST DEP GC, BILH) | 1.00 |
Officer
|
$0 | $42,760 | $417,575 |
| NGUYEN MD NICOLAS | ASSOC CMO SOUTH REGION, BILHPC | 55.00 |
Key Emp
|
$524,454 | $79,478 | $603,932 |
| CIBOTTI MD NANCY | CHIEF INNOVATION OFFICER, BILHPC | 55.00 |
Key Emp
|
$457,242 | $78,414 | $535,656 |
| BARKER ALEX | COO, SOUTHERN REGION, BILHPC | 55.00 |
Key Emp
|
$438,345 | $73,909 | $512,254 |
| CONNORS LAURIE | VP, HUMAN RESOURCES BUSINESS PARTNER | 1.00 |
Key Emp
|
$0 | $41,992 | $467,619 |
| KEHLMANN MD GLENN S | PHYSICIAN, INTERNAL MEDICINE | 55.00 |
Highest
|
$633,715 | $59,918 | $693,633 |
| SCHUTT MD ROGER | PHYSICIAN, FAMILY MEDICINE | 55.00 |
Highest
|
$531,166 | $62,963 | $594,129 |
| KOHLER MD ULRIKE | PHYSICIAN, INTERNAL MEDICINE | 55.00 |
Highest
|
$473,414 | $77,649 | $551,063 |
| STARR-BRANDSTEIN MD FERN | PHYSICIAN, INTERNAL MEDICINE | 55.00 |
Highest
|
$456,764 | $81,487 | $538,251 |
| FITZPATRICK MD BRIAN | PHYSICIAN, FAMILY MEDICINE | 55.00 |
Highest
|
$454,641 | $70,977 | $525,618 |
| LONGWORTH MD DAVID | FRMR TTEE, CHAIR, & PRES (EX-OFF) | 0.00 |
|
$0 | $15,489 | $264,742 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $116,567,341 | $167,031,444 | $43,172,576 | $-50,464,103 |
| 2023 | $103,570,844 | $142,201,859 | $33,885,429 | $-38,631,015 |
| 2022 | $110,236,078 | $139,691,328 | $55,466,909 | $-29,455,250 |
| 2021 | $101,898,024 | $129,812,378 | $49,345,299 | $-27,914,354 |
| 2020 | $85,466,947 | $118,753,769 | $27,938,613 | $-33,286,822 |
| 2019 | $88,461,230 | $118,040,802 | $28,670,493 | $-29,579,572 |
| 2018 | $80,963,728 | $107,729,459 | $20,340,938 | $-26,765,731 |
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