PRIMEHEALTH INC

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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

1994

Legal Domicile

Principal Officer

DR LIESE VITO

Phone

4403541991

Tax Period

2021-01-01 to 2021-12-31

PRIMEHEALTH INC, founded in 1994, is a mid-sized nonprofit in the Health Care sector that reported $31.7M in total revenue in fiscal year 2021.

Mission

PRIMEHEALTH, INC., DBA LAKE HEALTH PHYSICIAN GROUP, IS A PHYSICIAN NETWORK IN NORTHEAST OHIO COMPRISED OF PRIMARY CARE AND SPECIALTY PHYSICIANS PROVIDING HIGH QUALITY PERSONALIZED MEDICAL CARE.

Program Service Accomplishments

Program 1

Expenses: $31,677,804 Revenue: $31,677,804

PRIMEHEALTH, INC., DBA LAKE HEALTH PHYSICIAN GROUP ("LHPG"), WAS FORMED TO RENDER PROFESSIONAL SERVICES OF PHYSICIANS, LICENSED TO PRACTICE MEDICINE IN THE STATE OF OHIO, TO THE RESIDENTS OF LAKE...

PRIMEHEALTH, INC., DBA LAKE HEALTH PHYSICIAN GROUP ("LHPG"), WAS FORMED TO RENDER PROFESSIONAL SERVICES OF PHYSICIANS, LICENSED TO PRACTICE MEDICINE IN THE STATE OF OHIO, TO THE RESIDENTS OF LAKE COUNTY AND THE SURROUNDING COMMUNITIES. LHPG WAS ALSO ORGANIZED WITH THE PURPOSE OF FURTHERING THE CHARITABLE PURPOSE OF LAKE HOSPITAL SYSTEM, INC., DBA LAKE HEALTH. IN KEEPING WITH THE MISSION AND COMMITMENT TO THE COMMUNITY HELD BY LAKE HEALTH, LHPG PHYSICIANS PROVIDE CONVENIENTLY LOCATED PRIMARY HEALTH CARE ACCESS TO THE AREA'S RESIDENTS THROUGH PEDIATRIC, OBSTETRIC/GYNECOLOGY, INTERNAL MEDICINE, INTEGRATIVE MEDICINE, PULMONOLOGY, ENDOCRINOLOGY, RHEUMOTOLOGY, AND FAMILY PRACTICE SERVICES, AS WELL AS SPECIALIZED CARE IN THE AREA OF GENERAL, ORTHOPEDIC, CARDIAC AND BARIATRIC SURGERY. IN ADDITION TO PROVIDING LOCAL ACCESS TO HEALTH CARE, LHPG PHYSICIANS PROVIDE A WIDE ARRAY OF HEALTH CARE INFORMATION TO RESIDENTS IN THE COMMUNITY. THIS INFORMATION, DELIVERED THROUGH A VARIETY OF MEDIA, IS DESIGNED TO EDUCATE AND ENHANCE THE HEALTH AND WELLNESS OF THE COMMUNITY. THE LISTING BELOW CONTAINS A SAMPLING OF THE INFORMATION PROVIDED BY LHPG PHYSICIANS:WOMEN'S HEALTH CONFERENCE SPEAKERNEWS-HERALD HEALTH TALK ARTICLESSPEAKING ENGAGEMENTS AT LOCAL SCHOOLSLECTURES AT LOCAL BUSINESSESPARENTING CLASSES AT TRIPOINT MEDICAL CENTER AND WEST MEDICAL CENTERALL INFORMATION IS PROVIDED TO THE COMMUNITY AT NO COST.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $31,677,804

Investment Income $0

Other Revenue $0

TOTAL REVENUE $31,677,804

Expense Breakdown

Grants Paid $0

Salaries & Benefits $31,357,648

Fundraising Expenses $0

Program Expenses $31,677,804

Other Expenses $320,156

TOTAL EXPENSES $31,677,804

Year-over-Year Comparison

	2021	2020	Change
Revenue	$31,677,804	$30,763,562	+0.0%
Expenses	$31,677,804	$30,763,562	+0.0%
Net Income	$0	$0	N/A

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

N/A

Employees

107

Volunteers

N/A

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

$981,430

Total Directors

$3,541,356

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT TRACZ	TRUSTEE, SENIOR VP & CFO	5.00	Officer Director	$0	$26,066	$721,038
DR JOHN BANIEWICZ	CMO (EX OFFICIO)	10.00	Director	$0	$23,813	$718,410
DR JOHN SAMSA	TRUSTEE, PHYSICIAN	40.00	Director	$478,672	$29,528	$508,200
RICHARD CICERO	TRUSTEE, SR VP BUSINESS DE	5.00	Director	$0	$23,201	$467,731
DR ROBERT ZNDARSIC	TRUSTEE, PHYSICIAN	40.00	Director	$324,886	$21,188	$346,074
DR LIESE VITO	TRUSTEE, PHYSICIAN, CHAIR	40.00	Officer Director	$260,392	$0	$260,392
DR STEPHEN BAUM	TRUSTEE, PHYSICIAN	40.00	Director	$199,008	$17,087	$216,095
DR DANIELLE COOPER	TRUSTEE (EX OFFICIO), PHYSICIAN	40.00	Director	$287,567	$15,849	$303,416
DR SCOTT ZIMMER	PHYSICIAN	40.00	Highest	$1,393,957	$30,122	$1,424,079
DR AVIV BEN-MEIR	PHYSICIAN	40.00	Highest	$642,592	$38,408	$681,000
DR ROBERT GOLDSTEIN	PHYSICIAN	40.00	Highest	$598,405	$32,499	$630,904
DR CHRISTINE SLOTTA	PHYSICIAN	40.00	Highest	$506,453	$9,909	$516,362
DR DANIEL HOFIUS	PHYSICIAN	40.00	Highest	$500,202	$38,928	$539,130

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
2021	$31,677,804	$31,677,804	$17,595,534	No data
2020	$30,763,562	$30,763,562	$18,293,696	No data
2019	$30,803,833	$30,803,833	$15,202,100	No data
2018	$28,727,860	$28,727,860	$12,301,459	No data