Hartford HealthCare Medical Group … - Form 990 Financial Data

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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

2012

Legal Domicile

Principal Officer

Mark Prete

Phone

8606966200

Tax Period

2023-10-01 to 2024-09-30

Hartford HealthCare Medical Group Inc, founded in 2012, is a major nonprofit in the Health Care sector that reported $223.7M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion.

Mission

The Mission of Hartford HealthCare Medical Group is to put patients first, provide coordinated quality care and value, and exceed the expectations of patients, providers, staff and the community that it serves.

Program Service Accomplishments

Program 1

Expenses: $187,609,975 Revenue: $223,251,904

Hartford HealthCare Medical Group (HHCMG) is a multi-specialty group encompassing providers located throughout the state of Connecticut. In addition to clinical practice, our doctors are teachers and researchers, always looking for ways to improve the quality of care and bring innovations to their patients.Hartford HealthCare Medical Group has more than 400 primary care providers located throughout the state of Connecticut. HHCMG offers Primary Care, Urgent Care and Walk-in services, Virtual visits and Occupational Medicine. We are a member of Hartford HealthCare and are affiliated with some of the region's top hospitals including Hartford Hospital, The Hospital of Central Connecticut, MidState Medical Center, Windham Hospital, Backus Hospital, Charlotte Hungerford Hospital and St. Vincent's Medical Center.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $223,251,904

Investment Income $-174,712

Other Revenue $601,951

TOTAL REVENUE $223,679,143

Expense Breakdown

Grants Paid $0

Salaries & Benefits $136,304,148

Fundraising Expenses $0

Program Expenses $187,609,975

Other Expenses $87,321,749

TOTAL EXPENSES $223,625,897

Year-over-Year Comparison

	2023	2022	Change
Revenue	$223,679,143	$199,111,717	+0.1%
Expenses	$223,625,897	$199,101,801	+0.1%
Net Income	$53,246	$9,916	+4.4%

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

5431

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

$2,720,066

Total Directors

$6,090,834

Key Employees

$2,351,133

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jeff Cohen MD	Director/ Chair	2.00	Officer Director	$0	$85,698	$1,531,039
Cynthia Heller	Director (Thru 01/24)/Physician	60.00	Director	$551,430	$43,222	$594,652
Michael Daglio	Director (Thru 04/24)	1.00	Director	$0	$188,591	$1,488,416
Padmanabhan Premkumar MD	Director/ Vice Chair	2.00	Officer Director	$0	$128,185	$733,634
Cara Riddle DO	Director/Medical Director	60.00	Director	$359,017	$23,829	$382,846
Ajay Kumar MD	Director	1.00	Director	$0	$183,792	$1,360,247
David Baranik	VP, Finance	7.00	Officer	$0	$28,244	$455,393
Susan Barrett MD	VP, Primary Care Operations	30.00	Key Emp	$503,311	$40,110	$543,421
Mark Vye MD	VP, Specialty Care operations	30.00	Key Emp	$414,883	$56,984	$471,867
Carla Nunziante	VP, Growth & Acqusitions	30.00	Key Emp	$347,047	$67,587	$414,634
Brian Miller	VP, Human Resources	30.00	Key Emp	$0	$26,383	$351,804
Andrew Carroll	VP, Specialty Care Operations	30.00	Key Emp	$267,741	$56,275	$324,016
Toni Robinson	VP, Specialty Care Operations	30.00	Key Emp	$204,531	$40,860	$245,391
Sabet Hashim MD	SVP, Physician-in Chef	60.00	Highest	$1,770,774	$46,390	$1,817,164
Brendan Killory MD	Neurosurgeon	60.00	Highest	$1,515,275	$54,473	$1,569,748
Gerard Fumo MD	Physician	60.00	Highest	$1,444,024	$58,415	$1,502,439
Elizabeth Craig MD	Plastic Surgeon	60.00	Highest	$1,534,173	$7,881	$1,542,054
Paul Schwartz MD	Neurosurgeon	60.00	Highest	$1,383,056	$54,229	$1,437,285
Vincent DiBattista	Former Dir. & President	0.00		$0	$0	$20,312
Mark Prete	Former Dir. & President	0.00		$0	$21,952	$379,634

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
2024	$223,679,143	$223,625,897	$147,665,791	$53,246
2023	$199,111,717	$199,101,801	$129,217,515	$9,916
2022	$195,670,784	$195,659,920	$136,795,140	$10,864
2021	$160,748,630	$160,737,608	$148,658,102	$11,022
2020	$203,353,516	$203,338,919	$153,642,839	$14,597
2019	$287,328,473	$287,211,719	$96,736,126	$116,754
2018	$270,201,527	$270,152,920	$95,515,327	$48,607

Hartford HealthCare Medical Group Inc