RENTON, WA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)PROVIDENCE MEDICAL INSTITUTE, founded in 1987, is a major nonprofit in the Unknown sector that reported $222.0M in total revenue in fiscal year 2023.
AS EXPRESSIONS OF GOD'S HEALING LOVE, WITNESSED THROUGH THE MINISTRY OF JESUS, WE ARE STEADFAST IN SERVING ALL, ESPECIALLY THOSE WHO ARE POOR AND VULNERABLE.
AT PROVIDENCE, WE USE OUR VOICE TO ADVOCATE FOR VULNERABLE POPULATIONS AND NEEDED REFORMS IN HEALTH CARE. WE ARE ALSO PURSUING INNOVATIVE WAYS TO TRANSFORM HEALTH CARE BY KEEPING PEOPLE HEALTHY, AND...
AT PROVIDENCE, WE USE OUR VOICE TO ADVOCATE FOR VULNERABLE POPULATIONS AND NEEDED REFORMS IN HEALTH CARE. WE ARE ALSO PURSUING INNOVATIVE WAYS TO TRANSFORM HEALTH CARE BY KEEPING PEOPLE HEALTHY, AND MAKING OUR SERVICES MORE CONVENIENT, ACCESSIBLE AND AFFORDABLE FOR ALL. IN AN INCREASINGLY UNCERTAIN WORLD, WE ARE COMMITTED TO HIGH-QUALITY, COMPASSIONATE CARE FOR EVERYONE - REGARDLESS OF COVERAGE OR ABILITY TO PAY. WE HELP PEOPLE AND COMMUNITIES BENEFIT FROM THE BEST HEALTH CARE MODEL FOR THE FUTURE - TODAY. TOGETHER, OUR 117,000 CAREGIVERS (ALL EMPLOYEES) SERVE IN 51 HOSPITALS, 1,000 CLINICS AND A COMPREHENSIVE RANGE OF HEALTH AND SOCIAL SERVICES ACROSS ALASKA, CALIFORNIA, MONTANA, NEW MEXICO, OREGON, TEXAS AND WASHINGTON. THE PROVIDENCE FAMILY INCLUDES: -PROVIDENCE ACROSS SEVEN WESTERN STATES -COVENANT HEALTH IN WEST TEXAS -PROVIDENCE FACEY MEDICAL FOUNDATION IN LOS ANGELES, CA -KADLEC IN SOUTHEAST WASHINGTON -PACIFIC MEDICAL CENTERS IN SEATTLE, WA -SWEDISH HEALTH SERVICES IN SEATTLE, WA AS A COMPREHENSIVE HEALTH CARE ORGANIZATION, WE ARE SERVING MORE PEOPLE, ADVANCING BEST PRACTICES AND CONTINUING OUR MORE THAN 100-YEAR TRADITION OF SERVING THE POOR AND VULNERABLE. DELIVERING SERVICES ACROSS SEVEN STATES, PROVIDENCE IS COMMITTED TO TOUCHING MILLIONS OF MORE LIVES AND ENHANCING THE HEALTH OF THE AMERICAN WEST TO TRANSFORM CARE FOR THE NEXT GENERATION AND BEYOND. THROUGH COMMUNITY BENEFIT PROGRAMS AND OTHER HIGH-IMPACT INVESTMENTS, WE WORK TO ENSURE BASIC HEALTH NEEDS ARE MET AND SERVE TO REMOVE BARRIERS TO CARE, BUILD COMMUNITY RESILIENCE AND INNOVATE FOR THE FUTURE. MINISTRIES AND AFFILIATES SUPPORT ORGANIZATIONS, PROGRAMS AND INITIATIVES THAT IMPROVE HEALTH AND WELL-BEING AND INCREASE EQUITABLE ACCESS TO QUALITY CARE AT THE COMMUNITY LEVEL AND AT SCALE ACROSS SEVEN STATES. WE ARE PROUD OF OUR HISTORY AND CONTINUED COMMITMENT TO HELPING BUILD A MORE EQUITABLE, SUSTAINABLE FUTURE. OUR STEADFAST COMMITMENT TO RESPONDING TO COMMUNITY NEED IS ONE OF THE MANY WAYS MINISTRIES, AFFILIATES AND CAREGIVERS LIVE OUT OUR SHARED MISSION AND CONTINUE TO SERVE AS A VITAL SAFETY NET FOR THOSE WHO ARE VULNERABLE. FOR MORE INFORMATION GO TO: HTTPS://WWW.PROVIDENCE.ORG/ABOUT/ANNUAL-REPORT ENVIRONMENTAL, SOCIAL, AND GOVERNANCE STANDARDS PROVIDENCE CONTINUES TO EXECUTE ON OUR INTEGRATED STRATEGIC AND FINANCIAL PLAN, WHICH CLEARLY EXPRESSES OUR COMMITMENT AND ACCELERATION OF THE IMPORTANT WORK TO ADDRESS SOCIAL, RACIAL, AND ECONOMIC DISPARITIES AND REDUCE OUR CARBON FOOTPRINT IN THE COMMUNITIES WE SERVE. PROVIDENCE ADVANCES PROGRESS ON OUR CARBON NEGATIVE GOAL AND IN 2023 WE ESTIMATED THAT WE DECREASED EMISSIONS BY OVER 12 PERCENT COMPARED TO OUR 2019 BASELINE. IN ADDITION, OUR EFFORTS LED TO THE INTRODUCTION OF THE GREEN HOSPITALS ACT, LEGISLATION MODELED AFTER PROVIDENCE THAT WOULD PROVIDE CRITICAL FEDERAL FUNDING TO WEATHERIZE AND MODERNIZE HEALTH CARE FACILITIES. PROVIDENCE COMPLETED A COMPREHENSIVE CLIMATE RESILIENCE PLAN IN ALIGNMENT WITH OUR COMMITMENT TO THE US DEPARTMENT OF HEALTH AND HUMAN SERVICES CLIMATE PLEDGE. WE CONTINUE TO REDUCE GREENHOUSE GAS EMISSIONS WITH A FOCUS ON LED LIGHTING UPGRADES, WATER CONSERVATION, MORE EFFICIENT DELIVERY OF NITROUS OXIDE GAS DURING ANESTHESIA, AND ADVANCING OUR WASTE OPTIMIZATION WORK ACROSS ALL HOSPITALS AND CLINICS. PROVIDENCE MEDICAL INSTITUTE (PMI) IS A NONPROFIT PHYSICIAN SERVICES ORGANIZATION PROVIDING PRIMARY CARE AND A COMPREHENSIVE RANGE OF SPECIALTY AND HOSPITAL-BASED SERVICES FOR OVER 180,000 PATIENTS. FOUNDED IN 1995 TO PROVIDE HIGH QUALITY, COST-EFFECTIVE AND COMPASSIONATE HEALTHCARE, THE PHYSICIANS OF PMI ARE PART OF A 160+ YEAR TRADITION OF THE SISTERS OF PROVIDENCE, WHOSE LEGACY SPANS THE WESTERN STATES. PHYSICIANS WORK CLOSELY WITH THE ORGANIZATION'S SIX PROVIDENCE MEDICAL CENTERS LOCATED IN SAN PEDRO, TORRANCE, SANTA MONICA, TARZANA, BURBANK, AND MISSION HILLS. PROVIDENCE IS DEDICATED TO PROVIDING A FULL CONTINUUM OF CARE FROM BIRTH THROUGH THE GOLDEN YEARS. THE ORGANIZATION WAS THE FIRST HEALTH SYSTEM IN CALIFORNIA TO WIN HEALTHGRADES' DISTINGUISHED HOSPITAL AWARD FOR FIVE OF THE SIX HOSPITALS EVALUATED FOR THIS ACCOMPLISHMENT. CURRENTLY THE MEDICAL GROUPS AFFILIATED WITH PROVIDENCE MEDICAL INSTITUTE COMPRISE MORE THAN 200 PRIMARY CARE AND SPECIALIST PROVIDERS LOCATED ACROSS 65 MEDICAL OFFICES. THE PHYSICIANS AND STAFF ARE COMMITTED TO EXTENDING PRIMARY AND URGENT CARE SERVICES TO THEIR LOCAL COMMUNITIES. EVEN FOR THOSE WITH INSURANCE THE COST FOR PRIMARY CARE MAY BE OUT OF REACH. PMI AND THE PROVIDENCE LITTLE COMPANY OF MARY MEDICAL CENTER IN TORRANCE HAVE PARTNERED IN THE SOUTH BAY TO OFFER A STATE-OF-THE-ART PRIMARY CARE CLINIC SPECIFICALLY OPEN TO THE UNINSURED OR UNDERINSURED ADULT ON A CASH-PAY BASIS. IN ADDITION TO EXCEPTIONAL CARE, PATIENTS HAVE ACCESS TO HEALTHCARE COUNSELING FOR COMPLEX HEALTH CONDITIONS SUCH AS DIABETES. PROVIDENCE IS COMMITTED TO QUALITY COMPASSIONATE CARE FOR ALL, HONORING THE CORE VALUES OF THE FOUNDING SISTER OF PROVIDENCE AND LIVING THEIR 160+ YEAR-OLD MISSION: TO SERVE THE POOR AND VULNERABLE. OUR HISTORY FOUNDED IN 1996, PROVIDENCE LITTLE COMPANY OF MARY MEDICAL INSTITUTE BEGAN WHEN 27 PHYSICIANS PRACTICING INDEPENDENTLY IN THE COMMUNITY ENTERED INTO A PARTNERSHIP WITH PROVIDENCE LITTLE COMPANY OF MARY TO CREATE A NOT-FOR-PROFIT MEDICAL FOUNDATION. AS PART OF THE PARTNERSHIP, EACH PHYSICIAN IN THE MEDICAL INSTITUTE COMMITTED TO MEETING THE HEALTH NEEDS OF THE COMMUNITY WHILE EMBRACING THE MISSION OF THE SISTERS OF LITTLE COMPANY OF MARY. IN 1999, THE SISTERS OF LITTLE COMPANY OF MARY JOINED WITH THE SISTERS OF PROVIDENCE. TOGETHER, UNDER A CO-SPONSORSHIP, THEY HAVE ADOPTED THE PROVIDENCE MISSION AND CORE VALUES. OUR COMMITMENT TO THE COMMUNITIES WE SERVE PROVIDENCE MEDICAL INSTITUTE (PMI) IS CONTINUING ITS EXPANSION OF CARE TO OUR SOUTH BAY, SAN FERNANDO, AND SANTA CLARITA VALLEY COMMUNITIES BY EXPANDING THE NUMBER AND TYPES OF PHYSICIANS, ADDING MORE LOCATIONS THROUGHOUT OUR SERVICE AREA AS WELL AS PROVIDING NEW SERVICES AT OUR PMI CLINIC SITES PLUS EXPANDING OFFICE HOURS TO MAKE IT MORE CONVENIENT FOR OUR PATIENTS. SECONDLY, PMI IS DOUBLING ITS EFFORTS TO PROVIDE CLINICAL EXCELLENCE IN THE CARE DELIVERED TO PATIENTS. WE ARE ACHIEVING THIS GOAL EVERY YEAR BY CONTINUALLY ADDING HIGHLY-SKILLED PHYSICIANS AND OTHER PROVIDERS, REQUIRING ONGOING MEDICAL EDUCATION AND TRAINING TO ENSURE PHYSICIANS ARE UP TO DATE, ADVANCING THE USE OF TEAM-BASED CARE TO MAKE ADDITIONAL SERVICES AVAILABLE SUCH AS OUR SENIOR WELLNESS PROGRAM AT AXMINSTER MEDICAL GROUP. WE ARE ALSO USING EVIDENCE-BASED MEDICINE (RESEARCH) TO DRIVE MEDICAL DECISIONS. FINALLY, PMI IS CONTINUALLY UTILIZING TECHNOLOGY TO BETTER SERVE OUR PATIENTS. WHILE CURRENT ELECTRONIC MEDICAL RECORDS ALLOW FOR INSTANT ACCESS TO PATIENT RECORDS AND MANY OTHER ADVANTAGES, NEW FUNCTIONS CREATE THE OPPORTUNITY TO MANAGE A PATIENT'S HEALTH MORE PROACTIVELY, SHARE INFORMATION ACROSS PROVIDERS AND WITH THE PATIENT, ALLOW FOR PATIENTS TO INTERACT WITH PHYSICIANS REMOTELY, AND OTHER MAJOR ADVANCES. IN ADDITION, THE EXPANSION OF THE EXPRESS CARE PROGRAM IN SOUTHERN CALIFORNIA IS ALLOWING OUR PATIENTS TO SEE A PHYSICIAN FOR SIMPLE AILMENTS USING THEIR SMARTPHONE OR COMPUTER LAPTOP. PROGRAM REVENUE FROM OTHER PROVIDENCE ENTITIES IS USED FOR PROVIDING HOSPITALIST PROGRAMS, CANCER CENTER SUPPORT, AND NEUROVASCULAR TREATMENT. THE OTHER PROVIDENCE ENTITIES FUND COSTS OF THESE PROGRAMS.
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 | $222,016,119 | $219,286,342 | +0.0% |
| Expenses | $222,156,179 | $219,286,342 | +0.0% |
| Net Income | $-140,060 | $0 | N/A |
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 |
|---|---|---|---|---|---|---|
| ERIK WEXLER | DIRECTOR | 0.50 |
Director
|
$0 | $461,693 | $5,616,067 |
| JO ANN ESCASA-HAIGH | FRMR EVP/ASSISTANT TREASURER | 0.00 |
|
$0 | $10,754 | $3,302,551 |
| BJ MOORE | DIRECTOR - THRU 6/23 | 0.50 |
Director
|
$0 | $309,498 | $3,147,188 |
| DAVID KIM MD | PRESIDENT - THRU 8/23 | 1.00 |
Officer
Director
|
$0 | $26,953 | $2,068,350 |
| KEVIN MANEMANN | DIRECTOR - THRU 1/23 | 0.50 |
Director
|
$0 | $13,287 | $2,039,677 |
| ALI SANTORE | DIRECTOR | 0.50 |
Director
|
$0 | $204,645 | $1,840,194 |
| SARA VAEZY | DIRECTOR (PART YEAR) | 0.50 |
Director
|
$0 | $198,301 | $1,723,910 |
| NATHAN HUSMANN | FRMR OFF. DIV CFO SOUTH | 0.00 |
|
$0 | $198,695 | $1,294,473 |
| JILL DUPLECHAN | DIRECTOR (PART YEAR) | 0.50 |
Director
|
$0 | $169,020 | $1,269,130 |
| JIM WATSON ESQ | SECRETARY | 0.50 |
Officer
|
$0 | $146,931 | $1,115,622 |
| ROBERT JUST III | DIRECTOR (PART YEAR) | 0.50 |
Director
|
$0 | $151,608 | $1,014,762 |
| DAVID MAST | DIRECTOR | 0.50 |
Director
|
$0 | $123,979 | $994,645 |
| PRASANNA MOHANTY | PRESIDENT (PART YEAR) | 0.50 |
Officer
Director
|
$0 | $94,582 | $952,602 |
| MARY ANNE SLADICH-LANTZ | DIRECTOR | 0.50 |
Director
|
$0 | $6,571 | $597,558 |
| JOHN WHIPPLE | FRMR SECRETARY | 0.00 |
|
$0 | $0 | $541,701 |
| TERESA DAVID | COO FACEY | 27.50 |
Key Emp
|
$0 | $25,329 | $517,061 |
| MELAYNE YOCUM | CFO | 13.00 |
Officer
|
$0 | $32,089 | $505,069 |
| DONALD ANDERSON JR | ASSISTANT SECRETARY FOR ENROLLMENT | 0.50 |
Officer
|
$0 | $30,846 | $323,721 |
| ANTONIO FERREY | DIRECTOR (PART YEAR) | 0.50 |
Director
|
$0 | $0 | $52,500 |
| ABHIJIT ADHYE | DIRECTOR | 0.50 |
Director
|
$0 | $0 | $0 |
| ANNE FORD MD | DIRECTOR | 0.50 |
Director
|
$0 | $0 | $0 |
| CONNIE BARTLETT DO | DIRECTOR | 0.50 |
Director
|
$0 | $0 | $0 |
| ELIZABETH SANDER MD | DIRECTOR - THRU 6/23 | 0.50 |
Director
|
$0 | $0 | $0 |
| JAMES BENOIT DR | DIRECTOR/CHAIR (PART YEAR) | 1.00 |
Director
|
$0 | $0 | $0 |
| JEANNETTE CURRIE MD | DIRECTOR | 0.50 |
Director
|
$0 | $0 | $0 |
| KEITH MARTON MD | DIRECTOR | 0.50 |
Director
|
$0 | $0 | $0 |
| KIMBERLEY CHAN MD | DIRECTOR (PART YEAR) | 0.50 |
Director
|
$0 | $0 | $0 |
| MARK NEEDHAM MD | DIRECTOR | 0.50 |
Director
|
$0 | $0 | $0 |
| MICHAEL SUGARMAN MD | DIRECTOR | 0.50 |
Director
|
$0 | $0 | $0 |
| RAUL RUDY MARQUEZ MD | DIRECTOR | 0.50 |
Director
|
$0 | $0 | $0 |
| ROBERT DEL JUNCO MD | DIRECTOR - THRU 7/23 | 0.50 |
Director
|
$0 | $0 | $0 |
| ROSCOE MARTER MD | DIRECTOR | 0.50 |
Director
|
$0 | $0 | $0 |
| WILLIAM BARCELONA | DIRECTOR | 0.50 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $222,016,119 | $222,156,179 | $81,658,613 | $-140,060 |
| 2022 | $219,286,342 | $219,286,342 | $99,506,681 | No data |
| 2021 | $219,160,733 | $217,952,535 | $103,760,433 | $1,208,198 |
| 2020 | $205,881,230 | $204,201,047 | $98,266,197 | $1,680,183 |
| 2019 | $114,389,825 | $208,265,323 | $103,103,877 | $-93,875,498 |
| 2019 | $208,265,323 | $208,265,323 | $103,103,877 | No data |
| 2018 | $127,047,375 | $213,543,653 | $91,501,804 | $-86,496,278 |
| 2018 | $127,047,375 | $251,430,428 | $91,975,946 | $-124,383,053 |
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