ROWAN REGIONAL MEDICAL CENTER AUXILIARY

Financial Trends

Organization Details

ROWAN REGIONAL MEDICAL CENTER AUXILIARY, founded in 1936, is a micro nonprofit in the Health Care sector that reported $62K in total revenue in fiscal year 2023. Revenue fell 32% from the prior year — a significant decline worth monitoring. Expenses of $101K exceeded revenue, resulting in a 62% operating deficit.

Mission

NOVANT HEALTH IS A NON-PROFIT INTEGRATED HEALTHCARE SYSTEM OF 15 MEDICAL CENTERS WITH MORE THAN 35,000 EMPLOYEES AND 1,800 PHYSICIANS IN OVER 800 LOCATIONS, AS WELL AS NUMEROUS OUTPATIENT SURGERY CENTERS, MEDICAL PLAZAS, REHABILITATION PROGRAMS, DIAGNOSTIC IMAGING CENTERS AND COMMUNITY HEALTH OUTREACH PROGRAMS. HEADQUARTERED IN WINSTON-SALEM, NORTH CAROLINA, NOVANT HEALTH'S TEAM MEMBERS AND PHYSICIAN PARTNERS CARE FOR PATIENTS AND COMMUNITIES IN NORTH CAROLINA, SOUTH CAROLINA AND GEORGIA. THE NOVANT HEALTH INTEGRATED HEALTHCARE SYSTEM OPERATES TO CARRY OUT ITS CHARITABLE MISSION OF IMPROVING THE HEALTH OF COMMUNITIES IT SERVES AND MAKING HEALTHCARE REMARKABLE FOR PATIENTS. NOVANT HEALTH ACCOMPLISHES THAT MISSION BY PROVIDING AND SUPPORTING EXCELLENT HEALTHCARE FACILITIES AND PHYSICIAN PRACTICES AND BY MAKING A COMMITMENT TO COMMUNITY OUTREACH/SERVICE THROUGH THE PROVISION OF COMMUNITY BENEFIT PROGRAMS. BY BRINGING TOGETHER WORLD-CLASS TECHNOLOGY AND CLINICIANS TO PROVIDE QUALITY CARE, NOVANT HEALTH IS COMMITTED TO CREATING A HEALTHCARE EXPERIENCE THAT IS SIMPLER, MORE CONVENIENT, AND MORE AFFORDABLE SO PATIENTS CAN FOCUS ON GETTING BETTER AND STAYING HEALTHY. IN 2023, NOVANT HEALTH PROVIDED NEARLY 7 MILLION PATIENT VISITS AND OVER $1.5 BILLION OF COMMUNITY BENEFIT EXPENDITURES SYSTEM-WIDE ON AN ANNUAL BASIS. IN ADDITION TO PROVIDING A HIGH QUALITY, COMPREHENSIVE CATALOG OF HEALTHCARE SERVICES, NOVANT HEALTH OFFERS A ROBUST PATIENT FINANCIAL ASSISTANCE PROGRAM, WORKING WITH ITS PATIENTS TO ASSIST WITH ESTABLISHING REASONABLE PAYMENT PLANS, DISCOUNTING PATIENT BILLS, AND PROVIDING FREE CARE FOR THOSE THAT QUALIFY UNDER ITS FINANCIAL ASSISTANCE POLICY. ROWAN REGIONAL MEDICAL CENTER AUXILIARY ("RRMCA") IS A NON-PROFIT AFFILIATE OF NOVANT HEALTH ROWAN MEDICAL CENTER, LLC ("NHRMC"). BOTH ORGANIZATIONS ARE INTEGRAL PARTS OF THE NOVANT HEALTH SYSTEM. RRMCA'S PRIMARY PURPOSE IS TO SUPPORT AND PROMOTE THE VOLUNTEER PROGRAM OF NHRMC AND TO RAISE FUNDS USED EXCLUSIVELY TO PROMOTE HEALTH AND WELFARE OF THE COMMUNITIES SERVED BY NHRMC. IN 2023, MORE THAN 65 MEMBERS PARTICIPATED IN AUXILIARY ACTIVITIES BY ATTENDING MEETINGS, VOLUNTEERING IN 8 HOSPITAL DEPARTMENTS, AND LENDING THEIR GENERAL SUPPORT. AUXILIARY MEMBERS CONTRIBUTED OVER 6,850 HOURS OF SERVICE TO NHRMC AND COLLECTED MUCH NEEDED FINANCIAL RESOURCES FOR THE HOSPITAL THROUGH ITS VARIOUS FUNDRAISING EFFORTS, INCLUDING HOSTING SEVERAL ANNUAL FUNDRAISERS. THE NHRMC GIFT SHOP IS RRMCA'S MAJOR SOURCE OF FUNDRAISING, WITH MEMBERS VOLUNTEERING AND SUPPORTING THE GIFT SHOP COORDINATOR WITH DAILY OPERATIONS. COMMUNITY OUTREACH COMMUNITY OUTREACH IS A CRITICAL COMPONENT TO THE MISSION OF NOVANT HEALTH. THE HEALTHCARE SYSTEM PROVIDES HUNDREDS OF PROGRAMS THAT SERVE PATIENTS, NEIGHBORS, AND SOME OF THE COMMUNITIES' MOST VULNERABLE CITIZENS. NOVANT ALSO PROVIDES FINANCIAL ASSISTANCE (I.E., CHARITY CARE) FOR ITS QUALIFIED UNINSURED PATIENTS, CATASTROPHIC SETTLEMENTS AND LONG-TERM PAYMENT PLANS TO MEDICALLY INDIGENT PATIENTS, SERVICES TO PATIENTS WITH MEDICARE, MEDICAID, AND OTHER GOVERNMENT MEDICAL PROGRAM COVERAGE (REIMBURSED AT LESS THAN COST), COMMUNITY HEALTH EDUCATION, SUPPORT GROUPS, SUBSIDIZED OUTREACH SERVICES, AND COMMUNITY EVENTS/SCREENINGS. IN ADDITION, NOVANT PARTICIPATES IN MEDICAL RESEARCH, AS WELL AS ACADEMIC HEALTH PROGRAMS AND PARTNERSHIPS WITH A DIVERSE GROUP OF ORGANIZATIONS TO PROVIDE OTHER COMMUNITY INITIATIVES. RRMCA MEMBERS ARE IMPORTANT LIAISONS BETWEEN THE HOSPITAL AND COMMUNITY BY SERVING AS HEALTHCARE AMBASSADORS, CONTRIBUTING TO THE OVERALL EXCELLENT HOSPITAL EXPERIENCE. RRMCA IS PROUD TO SERVE THE COMMUNITY AND THE PEOPLE WHO ENTRUST THEIR CARE TO THE HOSPITAL.

Financial Overview (2023)

Year-over-Year Comparison

Governance

Special Practices & Reported Activities

Compensation of Officers, Directors & Key Employees

Historical Data