HR PHYSICIAN SERVICES

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1992

Legal Domicile

Principal Officer

MICHAEL B LAIGN

Phone

2159384682

Tax Period

2022-07-01 to 2023-06-30

HR PHYSICIAN SERVICES, founded in 1992, is a mid-sized nonprofit in the Health Care sector that reported $60.0M in total revenue in fiscal year 2022. Expenses of $71.9M exceeded revenue, resulting in a 20% operating deficit.

Mission

AS A CATHOLIC HEALTH SYSTEM, ROOTED IN THE TRADITION OF THE SISTERS OF THE HOLY REDEEMER, WE CARE, COMFORT AND HEAL, FOLLOWING THE EXAMPLE OF JESUS, PROCLAIMING THE HOPE GOD OFFERS IN THE MIDST OF HUMAN STRUGGLE AND TO PROVIDE OUR PATIENTS A VARIETY OF HEALTH CARE SERVICES FROM PRIMARY CARE TO EMERGENCY AND DIAGNOSTIC SERVICES.

Program Service Accomplishments

Program 1

Expenses: $58,379,743 Revenue: $56,970,488

PROVIDE MEDICAL CARE SERVICES BY PHYSICIANS AND SPECIALISTS PRIMARILY IN THE FOLLOWING HEALTH CARE SERVICE AREAS: PRIMARY CARE, EMERGENCY CARE, SURGICAL CARE, OBSTETRICS, GYNECOLOGIC, CARDIOLOGY...

PROVIDE MEDICAL CARE SERVICES BY PHYSICIANS AND SPECIALISTS PRIMARILY IN THE FOLLOWING HEALTH CARE SERVICE AREAS: PRIMARY CARE, EMERGENCY CARE, SURGICAL CARE, OBSTETRICS, GYNECOLOGIC, CARDIOLOGY, PULMONARY, BREAST CANCER, RADIOLOGY, PATHOLOGY, OCCUPATIONAL HEALTH, DIAGNOSTIC AND IN-PATIENT CARE. VARIOUS JOINT VENTURES, AS WELL, IN THE AREAS OF ORTHOPEDIC AND SPINE SURGERY. IN FY2023, HR PHYSICIAN SERVICES SERVED 71,086 PATIENTS IN THE STATES OF PENNSYLVANIA AND NEW JERSEY, GENERATING APPROXIMATELY $41M IN NET PATIENT REVENUE.

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Trantor Score

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

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

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $3,074,595

Program Service Revenue $56,970,488

Investment Income $166,221

Other Revenue $-229,581

TOTAL REVENUE $59,981,723

Expense Breakdown

Grants Paid $0

Salaries & Benefits $46,548,845

Fundraising Expenses $0

Program Expenses $58,379,743

Other Expenses $25,373,824

TOTAL EXPENSES $71,922,669

Year-over-Year Comparison

	2022	2021	Change
Revenue	$59,981,723	$55,779,551	+0.1%
Expenses	$71,922,669	$67,293,222	+0.1%
Net Income	$-11,940,946	$-11,513,671	+0.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

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

Governance

Voting Members

Independent Members

Employees

311

Volunteers

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

$2,349,208

Total Directors

$732,261

Key Employees

$270,704

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL B LAIGN	BOARD MEMBER, PRESIDENT/CEO	8.60	Officer Director	$143,859	$23,945	$732,261
MARC CRESPI	BOARD MEMBER	0.50	Officer Director	$0	$0	$0
K KULTAR SINGH	BOARD MEMBER	0.50	Director	$0	$0	$0
TIMOTHY ABELL	BOARD MEMBER	0.50	Director	$0	$0	$0
CHRISTOPHER MONAGHAN	BOARD MEMBER	0.50	Director	$0	$0	$0
JOSEPH RAGG	CHAIRMAN	0.50	Director	$0	$0	$0
DONALD F FRIEL	ASST TREASURER	8.10	Officer	$79,034	$100,192	$489,329
MICHAEL KEEN	ASST TREASURER/CFO	0.01	Officer	$86,073	$44,270	$468,068
MARIAN THALLNER	VP, CAO	24.00	Officer	$208,850	$83,987	$432,071
TARA VESCI MARTIN	TREASURER, SR DIRECTOR OF FINANCE	16.00	Officer	$50,010	$3,748	$128,772
CRISTINA PEOPLES	CORPORATE SECRETARY	40.00	Officer	$71,309	$27,398	$98,707
SUSAN HUROWITZ	VP CARE TRANSITIONS	20.00	Key Emp	$120,665	$29,375	$270,704
JOEL KRAMER	PHYSICIAN	40.00	Highest	$663,374	$28,805	$692,179
WILLIAM SCARLETT	PHYSICIAN	33.60	Highest	$394,284	$86,822	$556,207
THOMAS HARRIS	SENIOR VP, GENERAL COUNSEL	8.10	Highest	$79,954	$95,227	$488,892
CARL ROSENBAUM MD	SR. VP & MEDICAL DIRECTOR	10.00	Highest	$137,712	$29,431	$580,278
SHEENA JAIN	PHYSICIAN	40.00	Highest	$506,181	$3,727	$509,908

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	No data	No data	No data	No data
2023	$59,981,723	$71,922,669	$50,293,764	$-11,940,946
2022	$55,779,551	$67,293,222	$112,304,176	$-11,513,671
2021	$52,907,501	$66,815,916	$97,551,934	$-13,908,415
2020	$48,001,879	$61,883,263	$64,413,952	$-13,881,384
2019	$41,066,195	$56,444,044	$48,407,527	$-15,377,849
2018	$40,552,770	$47,027,295	$50,167,836	$-6,474,525