Baptist Health Medical Group Inc

EIN: 205497203 501(c)(3) Health Care

Louisville, KY

Total Revenue
$850,844,258
Total Expenses
$1,024,688,943
Total Assets
$207,219,630
Net Assets
$-42,991,542
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Financial Trends

Organization Details

Formation Year
2006
Legal Domicile
KY
Principal Officer
Isaac J Myers MD
Phone
5028965000
Tax Period
2023-09-01 to 2024-08-31

Baptist Health Medical Group Inc, founded in 2006, is a major nonprofit in the Health Care sector that reported $850.8M in total revenue in fiscal year 2023. Expenses of $1.0B exceeded revenue, resulting in a 20% operating deficit.

Mission

Description of Organization Mission: Baptist Health Medical Group, Inc. is organized and operated to provide healthcare services and facilities, including but not limited to physician services, primary care centers, specialty health clinics and urgent care centers. It also serves as an instrument to assist, advance and strengthen Baptist Health Louisville, Baptist Health LaGrange, Baptist Health Richmond, Baptist Health Corbin, Baptist Health Paducah, Baptist Health Lexington, Baptist Health Hardin and Baptist Health Floyd hospitals in their mission and ministry of healing and to support the charitable activities and operations of Baptist Healthcare System, Inc.

Program Service Accomplishments

Program 1
Expenses: $948,446,322 Revenue: $645,780,806

Baptist Health Medical Group, Inc. ("BHMG") is a professional medical services company organized and operated to benefit the member hospitals of Baptist Healthcare System, Inc. ("BHS"). BHMG is a...

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Baptist Health Medical Group, Inc. ("BHMG") is a professional medical services company organized and operated to benefit the member hospitals of Baptist Healthcare System, Inc. ("BHS"). BHMG is a comprehensive network of primary and specialty physician practices in Kentucky and Indiana that includes approximately 740 physicians and more than 820 advanced practice clinicians. Providers represent more than 75 specialties, including primary care and family medicine, internal medicine, osteopathic medicine, emergency medicine, general surgery and a wide range of surgical specialties offering advanced treatments and care. During fiscal year 2024, BHMG had over 4,780,000 patient visits at 375 locations. BHMG also operates urgent care centers, rural health clinics and occupational medicine facilities. The primary care and specialty care physician services support the hospitals operated by Baptist Healthcare System, Inc. by staffing emergency departments, providing hospitalist services and surgical care services for patients. BHMG's primary and specialty care physicians, urgent care centers, occupational medicine facilities and rural health centers offer more convenient and economical quality care services to patients and help to maintain sufficient physician expertise and capacity to deliver efficient, appropriate and compassionate patient care in the communities BHMG serves. Our physicians play key leadership roles in determining the direction and development of patient services, they spearhead innovation by leading clinical research and they help to bring advanced treatments and technology to our facilities.In order to meet the health and wellness needs of our communities throughout Kentucky and Indiana, Baptist Healthcare System, Inc. (BHS) provides grants to Baptist Health Medical Group, Inc. (BHMG). BHS is a nonprofit Section 501(c)(3) related entity and the sole member of BHMG. These grants allow BHMG to continue to provide support and care for Medicaid and charity care patients through primary care centers, rural health centers, urgent care centers and specialty health centers that meet a demonstrated community need. BHS makes these grants on the condition that BHMG use the grant funds only for the following activities:1. To provide care for patients participating in Medicaid and other means-tested government health programs, including but not limited to the Kentucky Children's Health Insurance (KCHIP) program.2. To provide care, for free or at discounted rates, to low-income patients who cannot afford the cost of care.3. To fund the operations of rural health clinics that provide care for the patients described above.4. To engage in community activities and programs in response to demonstrated community needs to improve community health, including but not limited to health screenings; COVID testing; vaccinations and community health education. Baptist Healthcare System, Inc. reports the grants related to the above activities on its respective IRS Form 990, Schedule H, Part I, Line 7.

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Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $205,009,292
Program Service Revenue $624,190,807
Investment Income $54,160
Other Revenue $21,589,999
TOTAL REVENUE $850,844,258

Expense Breakdown

Grants Paid $13,571
Salaries & Benefits $865,331,857
Fundraising Expenses $0
Program Expenses $948,446,322
Other Expenses $159,343,515
TOTAL EXPENSES $1,024,688,943

Year-over-Year Comparison

2023 2022 Change
Revenue $850,844,258 $800,561,133 +0.1%
Expenses $1,024,688,943 $962,632,415 +0.1%
Net Income $-173,844,685 $-162,071,282 +0.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
6
Independent Members
6
Employees
6986
Volunteers
10

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$3,608,367
Total Directors
6
$3,000
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Frank R Purdy III Chair & Director 1.00
Officer Director
$0 $0 $0
Rob Schreiner MD Director 1.00
Director
$0 $0 $0
Staci Dawn Farner Rogers MD Director 1.00
Director
$0 $0 $0
Patrick Daniel O'Haire MD Director (Effective 8/29/23) 1.00
Director
$0 $0 $0
Joanne Berryman Director (Effective 1/1/24) 1.00
Director
$0 $0 $0
Victoria D Buster Director 1.00
Director
$0 $0 $3,000
Isaac J Myers MD President 20.00
Officer
$0 $39,786 $1,206,670
Janet M Norton Vice President & Secretary 1.00
Officer
$0 $38,654 $1,109,535
Douglas Reed Vice President 40.00
Officer
$0 $48,040 $378,293
Richard F Carrico VP & Treasurer 1.00
Officer
$0 $30,778 $913,869
Sandeep Sharma MD Physician 40.00
Highest
$1,520,543 $45,598 $1,566,141
Jeffrey Been MD Physician 40.00
Highest
$1,602,939 $44,600 $1,647,539
John Blankenship MD Physician 40.00
Highest
$1,519,424 $45,371 $1,564,795
Bapineedu Gondi MD Physician 40.00
Highest
$1,580,377 $33,926 $1,614,303
Vikas Singh MD Physician 40.00
Highest
$1,461,261 $24,073 $1,485,334
Stephen R Oglesby VP & Treasurer (Through 1/6/23) 0.00
$0 $7,196 $343,444
Thomas Reynolds Vice President (Through 7/28/23) 0.00
$0 $32,305 $411,142
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $850,844,258 $1,024,688,943 $207,219,630 $-173,844,685
2023 $800,561,133 $962,632,415 $243,671,773 $-162,071,282
2022 $585,254,894 $875,913,404 $163,915,115 $-290,658,510
2021 $559,689,949 $824,040,514 $171,626,728 $-264,350,565
2020 $392,376,971 $628,514,987 $134,265,747 $-236,138,016
2019 $391,571,832 $582,458,370 $98,456,222 $-190,886,538
2018 $380,776,095 $563,365,859 $107,724,614 $-182,589,764
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