Holyoke, MA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)Holyoke Medical Center Inc, founded in 1984, is a major nonprofit in the Health Care sector that reported $266.1M in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion.
Our Mission at Holyoke Medical Center is to improve the health of all people in our community. We do that with honesty, respect and dignity for our patients, visitors and staff. We do that through expert and compassionate care, education and knowledge sharing, community partnerships, fostering innovation and growth and by inspiring hope in all we touch. We do that by being good stewards of our resources and providing efficient and cost effective care to all.
Holyoke Medical Center, Inc. (HMC) strives to serve the health needs of their medical service community in a high quality and efficient manner. To this end, HMC shall: (1) provide compassionate care...
Holyoke Medical Center, Inc. (HMC) strives to serve the health needs of their medical service community in a high quality and efficient manner. To this end, HMC shall: (1) provide compassionate care to all of whom it serves with a commitment to developing cultural diversity and competencies in our programs and workforce so that we may better serve our patients; (2) identify and serve those needs which are prevalent and substantial in the community as a whole, or within major population groups, and which can be adequately met by the provision of basic primary and secondary health care services; (3) provide information, education, and expertise to our community in order to promote the general health of its citizens; (4) provide an environment of excellence and growth in which health care professionals can use their skills and abilities to the fullest extent possible; (5) provide competitive wages and benefits, as well as safe and dignified working conditions, for all employees; (6) ensure financial responsibility in the operation of the medical center in order to guarantee the future viability of our mission; (7) provide a formal, public, and ongoing program of community benefits, in cooperation with community individuals and organizations, to improve the health status of the public including especially the medically and economically vulnerable. Holyoke Medical Center, Inc. provided inpatient, outpatient, OB/GYN, and emergency healthcare services and certain physician services to the residents of Holyoke, Massachusetts and the surrounding communities. Inpatient healthcare services included medical, surgical, critical care, cardiac, obstetrical, psychiatric, and oncology services. During FY 2024, HMC provided 42,745 patient days of inpatient services with 7,093 discharges. Outpatient healthcare services included a full array of diagnostic, therapeutic, and behavioral health services. During FY 2024, HMC had 366,946 outpatient visits. Emergency services were provided by a 24-hour emergency department. During FY 2024, HMC had 44,387 emergency department visits.
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 | $266,145,557 | $245,542,484 | +0.1% |
| Expenses | $264,667,624 | $248,612,084 | +0.1% |
| Net Income | $1,477,933 | $-3,069,600 | -1.5% |
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 |
|---|---|---|---|---|---|---|
| Simon Ahtaridis MD | Director/Medical Director | 50.00 |
Director
|
$373,911 | $41,531 | $415,442 |
| John Mazzucco MD | Director/General Surgeon | 50.00 |
Director
|
$360,713 | $19,898 | $380,611 |
| Spiridon E Hatiras | President & CEO, Clerk | 40.00 |
Officer
Director
|
$0 | $76,706 | $996,930 |
| Dean Vitarisi | Treasurer & CFO | 40.00 |
Officer
Director
|
$0 | $48,263 | $399,993 |
| Julie A Beck MD | Director (start 2/2024) | 0.50 |
Director
|
$0 | $0 | $0 |
| Tom Buck MD | Director | 0.50 |
Director
|
$0 | $0 | $0 |
| Shannon Gurek | Director | 0.50 |
Director
|
$0 | $0 | $0 |
| John Hazen | Director (end 2/2024) | 0.50 |
Director
|
$0 | $0 | $0 |
| Sara Lawrence | Director (end 2/2024) | 0.50 |
Director
|
$0 | $0 | $0 |
| Mary Jo Maydew | Director | 0.50 |
Director
|
$0 | $0 | $0 |
| Daniel McIntire | Director (end 2/2024) | 0.50 |
Director
|
$0 | $0 | $0 |
| Gary Rome | Director (start 2/2024) | 0.50 |
Director
|
$0 | $0 | $0 |
| Idelia Smith | Director | 0.50 |
Director
|
$0 | $0 | $0 |
| George Timmons PhD | Director (start 2/2024) | 0.50 |
Director
|
$0 | $0 | $0 |
| Tricia Koss | Chair | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| Michael Marcotte | Vice Chair (end 2/2024) | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| Michael Sugrue | Director/Vice Chair (start 2/2024) | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| Andrey Pavlov MD | Pulmonologist | 50.00 |
Highest
|
$962,720 | $3,062 | $965,782 |
| Noah J Epstein MD | Orthopedic Surgeon | 50.00 |
Highest
|
$950,463 | $25,241 | $975,704 |
| Marc J Zerbe MD | Obstetrician/Gynecologist | 50.00 |
Highest
|
$847,071 | $25,241 | $872,312 |
| Alexander Berry MD | Urologist | 50.00 |
Highest
|
$922,932 | $25,241 | $948,173 |
| Nirav R Sheth MD | Cardiologist | 50.00 |
Highest
|
$798,976 | $25,241 | $824,217 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $266,145,557 | $264,667,624 | $129,344,658 | $1,477,933 |
| 2023 | $245,542,484 | $248,612,084 | $123,522,026 | $-3,069,600 |
| 2022 | $220,302,598 | $219,173,615 | $113,711,951 | $1,128,983 |
| 2021 | $201,172,148 | $195,574,305 | $113,328,179 | $5,597,843 |
| 2020 | $198,185,895 | $179,746,997 | $108,442,188 | $18,438,898 |
| 2019 | $182,957,828 | $177,738,751 | $90,627,521 | $5,219,077 |
| 2018 | $170,946,790 | $165,150,249 | $86,879,444 | $5,796,541 |
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