TOLEDO, OH
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)MEMORIAL PROFESSIONAL SERVICES, founded in 2010, is a mid-sized nonprofit in the Health Care sector that reported $17.3M in total revenue in fiscal year 2023. Revenue surged 54% from the prior year, signaling strong growth momentum. Expenses of $24.7M exceeded revenue, resulting in a 43% operating deficit.
AS AN INTEGRAL PART OF PROMEDICA HEALTH SYSTEM, INC., WE WILL BE THE PREMIER COMMUNITY-BASED MANAGEMENT SERVICES ORGANIZATION AND PROVIDER OF RELATED HEALTHCARE SERVICES FOR NORTHWEST OHIO/SOUTHEAST MICHIGAN, OFFERING QUALITY, COST-EFFECTIVE, EFFICIENT, AND VALUE-ADDED SERVICES TO ACHIEVE SUPERIOR PATIENT SATISFACTION AND A FINANCIALLY VIABLE NETWORK OF PHYSICIANS SUPPORTING THE MEDICAL NEEDS OF THE COMMUNITY.
SERVING INDIVIDUALS AND FAMILIES IN NORTHWEST OHIO, MEMORIAL PROFESSIONAL SERVICES (MPS), A SUBSIDIARY OF PROMEDICA PHYSICIAN GROUP (PPG), OFFERS A LARGE SELECTION OF PHYSICIANS AND ADVANCED PRACTICE...
SERVING INDIVIDUALS AND FAMILIES IN NORTHWEST OHIO, MEMORIAL PROFESSIONAL SERVICES (MPS), A SUBSIDIARY OF PROMEDICA PHYSICIAN GROUP (PPG), OFFERS A LARGE SELECTION OF PHYSICIANS AND ADVANCED PRACTICE PROVIDERS WHO PROVIDE MEDICAL CARE AND OTHER HEALTHCARE SERVICES VIA AN INTEGRATED APPROACH THROUGH WHICH THEY COLLABORATE WITH OTHER PROVIDERS. THIS INTEGRATED DELIVERY IS MORE COST-EFFECTIVE THAN TRADITIONAL DELIVERY SYSTEMS AND HELPS TO ENSURE PATIENTS HAVE BETTER ACCESS TO CARE IN THE MOST APPROPRIATE SETTING. PPG AND ITS SUBSIDIARIES ARE PART OF PROMEDICA HEALTH SYSTEM, INC. (PROMEDICA), A MISSION-BASED, LOCALLY OWNED, NONPROFIT HEALTHCARE ORGANIZATION HIGHLY FOCUSED ON ACHIEVING CORE VALUES. HEADQUARTERED IN TOLEDO, OHIO, PROMEDICA SERVES 28 STATES ACROSS THE COUNTRY AND IS ONE OF THE NATION'S LEADING HEALTH SYSTEMS. OUR STEWARDSHIP OF RESOURCES HAS ENABLED US TO WISELY INVEST IN PATIENT-CENTERED CARE, ADVANCED TECHNOLOGY, INNOVATIVE PROGRAMS, AND FAMILY-ORIENTED FACILITIES THAT HELP TO ENSURE PATIENTS AND AREA RESIDENTS HAVE EQUAL ACCESS TO HIGH-QUALITY, SAFE CARE IN THE MOST APPROPRIATE SETTING, REGARDLESS OF PATIENTS' ABILITY TO PAY. PPG'S WELL-EQUIPPED PHYSICIAN FACILITIES ARE LOCATED IN APPROXIMATELY 200 LOCATIONS, AND ITS NETWORK IS COMPRISED OF MORE THAN 1,200 HEALTHCARE PROVIDERS CERTIFIED IN MORE THAN 50 SPECIALTIES, INCLUDING ANESTHESIOLOGY, BARIATRICS, CARDIOLOGY, CRITICAL CARE, ENT, FAMILY MEDICINE, GASTROENTEROLOGY, GENERAL SURGERY, HEMATOLOGY-ONCOLOGY, HOSPITALISTS, INTERNAL MEDICINE, NEUROLOGY AND NEUROSURGERY, OBSTETRICS/GYNECOLOGY, OCCUPATIONAL MEDICINE, OPHTHALMOLOGY, ORTHOPEDIC SURGERY, PEDIATRIC CARDIOLOGY, PEDIATRIC CRITICAL CARE MEDICINE, PEDIATRICS, PSYCHIATRY, SPORTS CARE, SURGICAL ONCOLOGY, UROLOGY, AND VASCULAR MEDICINE. PPG CONDUCTED APPROXIMATELY 2 MILLION PATIENT ENCOUNTERS IN 2022. ADDITIONALLY, PPG PRIMARY CARE PRACTICES NOW SCREEN FOR 5 DIFFERENT SOCIAL DETERMINANTS SCREENS FOR AREAS SUCH AS FOOD INSECURITY, FINANCIAL, TRANSPORTATION, AND UTILITIES. PATIENTS SCREENING POSITIVE ARE CONNECTED TO COMMUNITY RESOURCES TO IMPROVE HEALTH AND WELL-BEING. MEMORIAL PROFESSIONAL SERVICES PROVIDED A SIGNIFICANT AMOUNT OF FINANCIAL ASSISTANCE TO THE COMMUNITY DURING 2023, OF WHICH $137,999 REPRESENTED UNCOMPENSATED AMOUNTS FOR TREATMENT OF PATIENTS WHO DID NOT HAVE THE FINANCIAL RESOURCES TO PAY FOR HOSPITAL SERVICES. FINANCIAL ASSISTANCE REPRESENTS THE COST TO PROVIDE SERVICE AND DOES NOT INCLUDE THE COSTS FOR ACCOUNTS WRITTEN OFF TO BAD DEBT FOR PATIENTS WHO DO NOT PAY THEIR BILLS. ITS COST OF BAD DEBT FOR 2023 TOTALED $492,495.DURING 2023, MEMORIAL PROFESSIONAL SERVICES EXPENDED $10,077,808 IN NET PAYROLL, PROVIDING 141 JOBS. A TOTAL OF $502,397 WAS WITHHELD FROM EMPLOYEES IN STATE AND LOCAL TAXES.IN SUMMARY, PPG AND ITS SUBSIDIARIES DEMONSTRATE THEIR MISSION AND CORE VALUES BY PROVIDING HIGH-QUALITY HEALTH CARE TO ALL PATIENTS, REGARDLESS OF THEIR RACE, CREED, SEX, NATIONAL ORIGIN, DISABILITY OR AGE AND WE RECOGNIZE THAT NOT ALL INDIVIDUALS POSSESS THE ABILITY TO PURCHASE ESSENTIAL MEDICAL CARE. THEREFORE, PROMEDICA PROVIDES THESE HEALTHCARE SERVICES; RECRUITS AND TRAINS HEALTHCARE PROFESSIONALS TO SERVE THE BROADER COMMUNITY; PROVIDES APPROPRIATE FINANCIAL ASSISTANCE; OFFERS SERVICES AND CONTRIBUTIONS TO OTHER NONPROFIT ORGANIZATIONS THAT ALLOW THEM TO PROVIDE KEY SERVICES TO THEIR CONSTITUENTS; AND PRESENTS FREE EDUCATIONAL CLASSES, HEALTH FAIRS AND OTHER ACTIVITIES TO OUR LOCAL COMMUNITY TO HELP ENSURE ALL MEMBERS HAVE EQUAL ACCESS TO CARE.
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 | $17,328,537 | $11,239,268 | +0.5% |
| Expenses | $24,702,229 | $17,418,562 | +0.4% |
| Net Income | $-7,373,692 | $-6,179,294 | +0.2% |
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 |
|---|---|---|---|---|---|---|
| KENT BISHOP | TRUSTEE/PRESIDENT | 1.00 |
Director
|
$0 | $4,120 | $1,441,883 |
| DAWN BUSKEY | TRUSTEE/PRESIDENT | 1.00 |
Director
|
$0 | $5,337 | $1,417,737 |
| DONALD CRESCENZO | TRUSTEE/PHYSICIAN | 1.00 |
Director
|
$0 | $0 | $918,456 |
| VICTOR CHERFAN | TRUSTEE/PHYSICIAN | 1.00 |
Director
|
$0 | $0 | $659,149 |
| KATHLEEN MERRILL | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| LISA MILLER | TRUSTEE/DIRECTOR - PART YEAR | 1.00 |
Director
|
$0 | $4,657 | $95,170 |
| LISA HAWKER | CHAIRMAN | 1.00 |
Officer
Director
|
$0 | $0 | $40,000 |
| BILL MCDONNELL | TRUSTEE - PART YEAR | 1.00 |
Director
|
$0 | $0 | $0 |
| NANCY KABAT | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| MARCY BROWN | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| LAURA KLINE | TRUSTEE - PART YEAR | 1.00 |
Director
|
$0 | $0 | $0 |
| AMANDA KISSNER | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| LINDA THIEL | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| BARRY LUSE | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| SUE VANISACKER | TRUSTEE - PART YEAR | 1.00 |
Director
|
$0 | $0 | $0 |
| KRISTINE BRENNER | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| JIM BRENNAN | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| TIM BUBLICK | TRUSTEE - PART YEAR | 1.00 |
Director
|
$0 | $0 | $0 |
| EVON EBEID | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| ALEX GERKEN | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| KEVIN PIROZEK | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| DAVE SNAVELY | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| ROBERT LACLAIR | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $30,000 |
| ARTURO POLIZZI | PRESIDENT AND CEO | 1.00 |
Officer
|
$0 | $5,857 | $2,127,450 |
| TERRENCE METZGER | TREASURER/CFO | 1.00 |
Officer
|
$0 | $4,079 | $1,059,169 |
| LOUIS ROBICHAUX | TREASURER/CFO - PART YEAR | 1.00 |
Officer
|
$0 | $0 | $0 |
| STEVE SADOWSKI | SECRETARY/CHIEF LEGAL OFFICER | 1.00 |
Officer
|
$0 | $6,028 | $1,413,208 |
| MICHAEL GRILLIS | PHYSICIAN | 44.00 |
Highest
|
$630,007 | $5,647 | $635,654 |
| MENNATALLAH OMAR | PHYSICIAN | 45.00 |
Highest
|
$521,471 | $1,906 | $523,377 |
| DAVID DEFRANCE | PHYSICIAN | 45.00 |
Highest
|
$464,629 | $3,992 | $468,621 |
| DAVID SOMMERS | PHYSICIAN | 44.00 |
Highest
|
$456,443 | $0 | $456,443 |
| VERNON REYNOLDS | PHYSICIAN | 45.00 |
Highest
|
$448,115 | $1,705 | $449,820 |
| STEVEN M CAVANAUGH | TREASURER, CFO - FORMER | 0.00 |
|
$0 | $5,657 | $1,340,837 |
| JEFFREY C KUHN | SECRETARY, CHIEF LEGAL OFFICER - FORMER | 0.00 |
|
$0 | $30,922 | $779,348 |
| GARY AKENBERGER | SR VP FINANCE - FORMER | 0.00 |
|
$0 | $43,532 | $572,179 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $17,328,537 | $24,702,229 | $3,067,449 | $-7,373,692 |
| 2022 | $11,239,268 | $17,418,562 | $3,073,955 | $-6,179,294 |
| 2021 | $15,080,612 | $19,802,156 | $7,092,437 | $-4,721,544 |
| 2020 | $13,111,469 | $18,422,108 | $2,966,425 | $-5,310,639 |
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