Urbana, IL
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)RICHLAND MEMORIAL HOSPITAL, founded in 1953, is a mid-sized nonprofit in the Health Care sector that reported $64.0M in total revenue in fiscal year 2023. Expenses of $74.0M exceeded revenue, resulting in a 16% operating deficit.
TO PROVIDE EXCELLENT HEALTHCARE, PROMOTE WELLNESS, AND EDUCATE PATIENTS, STAFF, AND THE COMMUNITY.
Richland Memorial Hospital, Inc., DBA Carle Richland Memorial Hospital (CRMH) is a tax-exempt Illinois not-for-profit corporation established for the purpose of operating a hospital and conducting...
Richland Memorial Hospital, Inc., DBA Carle Richland Memorial Hospital (CRMH) is a tax-exempt Illinois not-for-profit corporation established for the purpose of operating a hospital and conducting patient care related activities. Richland is a 25 bed hospital (45 bed during tax year 2023) providing a range of ancillary and support services. For 2023, the hospital admitted 1,652 patients, is fully accredited by the Healthcare Facilities Accreditation Program (HFAP), has an Emergent Stroke Ready Designation and a Level II Nursery Designation by the Illinois Department of Public Health and is a clinical hub site for Southern Illinois University Physician Assistant Program. In 2023, CRMH recorded 11,655 patient days. In addition to the hospital, the organization has three rural health clinics: -Carle Bridgeport is located at 100 Industry Road, Bridgeport, IL, and offers audiology and hearing, behavioral health, cardiovascular medicine, family medicine, midwifery, orthopedics, and otolaryngology (ENT: ear, nose, and throat) services Monday through Friday, 8 a.m. to 5 p.m. -Carle Olney is located at 363 N. West Street, Olney, IL, 1.3 miles from the hospital, which offers behavioral health, convenient care, and family medicine services 8 a.m. - 8 p.m. seven days per week. -Carle West Salem is located at 100 S. Main Street, West Salem, IL, and offers family medicine services Monday through Friday, 8 a.m. to 5 p.m. In addition to the rural health clinics, Richland provides services under the following: -CRMH Professional Services located at 605 E. Main Street, Olney, IL one-half mile from the hospital and offers general surgery and podiatry services. -The Apothecary Shoppe, located at 108 S. Main Street, West Salem, IL, offers retail pharmacy services Monday through Friday from 9 a.m. to 3 p.m., and Saturdays from 9 a.m. to noon. CRMH provides quality medical healthcare regardless of race, creed, gender, national origin, disability, age or ability to pay. Although reimbursement for services rendered is critical to the operation and stability of the hospital, it is recognized that not all individuals possess the ability to purchase essential medical services. The mission of CRMH is to serve our community with respect in providing healthcare services and healthcare education. Therefore, in keeping with the commitment to serve all members of the community, we offer: -Free care to qualified individuals under the CRMH financial assistance program -Care provided to persons covered by governmental programs at below cost; and -Health activities and programs to support and educate the community. These activities include wellness programs, community education programs, professional education programs, and a variety of broad community support activities. CRMH provides care to persons covered by governmental programs at below cost. The hospital also provides care to persons covered by commercial insurance at below cost. Recognizing its mission to the community, services are provided to both Medicare and Medicaid patients. To the extent reimbursement is below cost, the hospital recognizes these amounts as cost incurred in meeting its mission to the entire community. Financial assistance was also provided through CRMH's financial assistance policy offered in 2023.
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 | $64,046,753 | $62,829,384 | +0.0% |
| Expenses | $74,023,554 | $71,799,739 | +0.0% |
| Net Income | $-9,976,801 | $-8,970,355 | +0.1% |
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 |
|---|---|---|---|---|---|---|
| N/A | Secretary / Treasurer | 1.5 |
Officer
Director
|
$0 | $0 | $0 |
| N/A | Chair | 2.0 |
Officer
Director
|
$0 | $0 | $0 |
| N/A | Ex Officio // President, Carle Health Regions // EVP, COO // TRUSTEE THRU 3/08/2023 | 1.0 |
Officer
Director
|
$0 | $363,305 | $1,930,637 |
| N/A | Vice Chair | 1.5 |
Officer
Director
|
$0 | $0 | $0 |
| N/A | Trustee Beg 02/01/2023 // Physician | 1.0 |
Director
Key Emp
|
$0 | $34,451 | $552,499 |
| N/A | Trustee | 1.0 |
Director
|
$0 | $0 | $0 |
| N/A | Trustee Beg 02/01/2023 | 3.0 |
Director
|
$0 | $0 | $0 |
| N/A | Trustee Thru 01/31/2023 | 1.0 |
Director
|
$0 | $0 | $0 |
| N/A | Trustee | 1.0 |
Director
|
$0 | $0 | $0 |
| N/A | Trustee // Physician | 1.0 |
Director
|
$0 | $15,808 | $663,615 |
| N/A | Trustee Thru 01/31/2023 // CHRH MEDICAL DIRECTOR | 1.0 |
Director
|
$0 | $72,879 | $645,286 |
| N/A | Trustee | 1.5 |
Director
|
$0 | $0 | $0 |
| N/A | Trustee | 4.0 |
Director
|
$0 | $0 | $0 |
| N/A | Officer - EVP, Chief Finance & Strategy Officer | 2.0 |
Officer
|
$0 | $366,889 | $1,762,884 |
| N/A | Officer - President & CEO | 0.5 |
Officer
|
$0 | $36,885 | $5,726,886 |
| N/A | Officer - EVP, Chief Medial Officer | 1.0 |
Officer
|
$0 | $115,459 | $1,056,334 |
| N/A | Ex Officio, Non-Voting // Officer - President, Carle Health - South Region | 20.0 |
Officer
|
$0 | $52,557 | $432,337 |
| N/A | EVP, Chief Human Resources Officer | 1.0 |
Key Emp
|
$0 | $209,640 | $1,155,351 |
| N/A | VP, Construction & Facility Services | 1.0 |
Key Emp
|
$0 | $68,059 | $432,431 |
| N/A | CRNA - CRMH Anesthesiology | 40.0 |
Highest
|
$347,452 | $34,981 | $382,433 |
| N/A | CRNA - CRMH Anesthesiology | 40.0 |
Highest
|
$354,422 | $34,754 | $389,176 |
| N/A | CRNA Lead - CRMH Anesthesiology | 40.0 |
Highest
|
$358,840 | $37,074 | $395,914 |
| N/A | Physician - Urology | 40.0 |
Highest
|
$458,989 | $6,600 | $465,589 |
| N/A | CRNA - CRMH Anesthesiology | 40.0 |
Highest
|
$327,398 | $37,074 | $364,472 |
| N/A | Former - Key Employee | 0.0 |
|
$0 | $36,405 | $711,286 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $64,046,753 | $74,023,554 | $24,883,089 | $-9,976,801 |
| 2022 | $62,829,384 | $71,799,739 | $26,663,290 | $-8,970,355 |
| 2021 | $54,881,543 | $62,686,759 | $31,450,471 | $-7,805,216 |
| 2020 | $54,890,414 | $60,115,480 | $53,443,489 | $-5,225,066 |
| 2019 | $55,522,211 | $66,214,518 | $29,782,143 | $-10,692,307 |
| 2018 | $52,809,084 | $59,563,231 | $33,259,131 | $-6,754,147 |
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