BETH ISRAEL LAHEY HEALTH PRIMARY CARE (EIN 472248298) - Form 990 Financial Analysis & Trantor Score

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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

2014

Legal Domicile

Principal Officer

ROBERT FIELDS MD

Phone

7817445100

Tax Period

2023-10-01 to 2024-09-30

BETH ISRAEL LAHEY HEALTH PRIMARY CARE, founded in 2014, is a mid-sized nonprofit that reported $19.7M in total revenue in fiscal year 2023. Expenses of $30.2M exceeded revenue, resulting in a 53% operating deficit.

Mission

BETH ISRAEL LAHEY HEALTH PRIMARY CARE (BILHPC) IS A NETWORK OF COMMUNITY BASED PHYSICIANS AFFILIATED WITH THE BETH ISRAEL LAHEY HEALTH (BILH) NETWORK AND SERVING THE PATIENTS AND COMMUNITIES SERVED BY THE LAHEY CLINIC HOSPITAL (LAHEY HOSPITAL & MEDICAL CENTER) AND THE LAHEY CLINIC, INC. AS WELL AS THE WIDER BILH NETWORK. BILHPC IS DEDICATED TO PROVIDING HIGH - QUALITY, CUTTING - EDGE CARE TO PATIENTS IN THE COMMUNITIES WHERE THEY LIVE AND WORK. BILHPC BELIEVES THAT EFFECTIVE CARE IS EASILY ACCESSIBLE AND SIMPLE TO USE SO IT IS BILHPC'S FOCUS TO PROVIDE PATIENTS WITH CARE THAT IS IN CLOSE PROXIMITY AND CONVENIENT REGARDLESS OF WHERE PATIENTS LIVE, THEIR HEALTH HISTORY OR STAGE OF LIFE. DURING THE FISCAL PERIOD COVERED BY THIS FILING, BETH ISRAEL LAHEY HEALTH (BILH) SERVED AS THE SOLE MEMBER OF ANNA JAQUES HOSPITAL (AJH), BETH ISRAEL DEACONESS MEDICAL CENTER, INC. (BIDMC), MOUNT AUBURN HOSPITAL (MAH), NEW ENGLAND BAPTIST HOSPITAL (NEBH), BETH ISRAEL DEACONESS HOSPITAL -- MILTON, INC. (MILTON), BETH ISRAEL DEACONESS HOSPITAL -- NEEDHAM, INC. (NEEDHAM), BETH ISRAEL DEACONESS HOSPITAL -- PLYMOUTH, INC. (PLYMOUTH), LAHEY HEALTH SHARED SERVICES (LHSS), LAHEY CLINIC FOUNDATION (LCF), WINCHESTER HOSPITAL (WINCHESTER), NORTHEAST HOSPITAL CORPORATION (NHC) WHICH INCLUDES BEVERLY, ADDISON GILBERT AND BAYRIDGE HOSPITALS, NORTHEAST BEHAVIORAL CORPORATION (NBHC), THE BETH ISRAEL LAHEY HEALTH PERFORMANCE NETWORK (BILHPN), EXETER HEALTH RESOURCES INC. (EHRI) AND THE BETH ISRAEL LAHEY HEALTH PHARMACY. THE LAHEY CLINIC FOUNDATION IN TURN SERVED AS THE SOLE MEMBER OF LAHEY CLINIC INC, AND LAHEY CLINIC HOSPITAL D/B/A LAHEY HOSPITAL AND MEDICAL CENTER (LHMC) AND EXETER HEALTH RESOURCES INC SERVED AS THE SOLE MEMBER OF EXETER HOSPITAL. EACH OF THE ENTITIES LISTED HERE MAY HAVE ALSO, IN TURN, SERVED AS MEMBER TO OTHER NETWORK AFFILIATES. BILH IS AN INTEGRATED HEALTH CARE SYSTEM COMMITTED TO EXPANDING ACCESS TO EXTRAORDINARY PATIENT CARE ACROSS EASTERN MASSACHUSETTS AND SOUTHERN NEW HAMPSHIRE AND ADVANCING THE SCIENCE AND PRACTICE OF MEDICINE THROUGH GROUNDBREAKING RESEARCH AND EDUCATION. THE BILH SYSTEM IS COMPRISED OF ACADEMIC AND TEACHING HOSPITALS, A PREMIER ORTHOPEDICS HOSPITAL, PRIMARY CARE AND SPECIALTY CARE PROVIDERS, AMBULATORY SURGERY CENTERS, URGENT CARE CENTERS, COMMUNITY HOSPITALS, HOMECARE SERVICES, OUTPATIENT BEHAVIORAL HEALTH CENTERS AND ADDICTION TREATMENT PROGRAMS. BILH'S COMMUNITY OF CLINICIANS, CAREGIVERS AND STAFF INCLUDES APPROXIMATELY 4,700 PHYSICIANS AND 39,000 EMPLOYEES. IN ADDITION, AS NOTED FURTHER BELOW, THE BETH ISRAEL LAHEY HEALTH (BILH) NETWORK OF AFFILIATES ENGAGED IN SIGNIFICANT ACTIVITIES SUPPORTING BEHAVIORAL HEALTH IN THE PRIMARY CARE AND OTHER HEALTHCARE SETTINGS AS WELL AS OTHER HEALTHCARE INITIATIVES FOR THE COMMUNITIES SERVED.

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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 $19,613,692

Investment Income $0

Other Revenue $96,621

TOTAL REVENUE $19,710,313

Expense Breakdown

Grants Paid $0

Salaries & Benefits $21,792,429

Fundraising Expenses $0

Program Expenses $25,008,390

Other Expenses $8,389,887

TOTAL EXPENSES $30,182,316

Year-over-Year Comparison

	2023	2022	Change
Revenue	$19,710,313	$18,920,394	+0.0%
Expenses	$30,182,316	$24,206,010	+0.2%
Net Income	$-10,472,003	$-5,285,616	+1.0%

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

247

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

$6,475,646

Total Directors

$4,674,453

Key Employees

$1,703,244

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHORETT PETER	TTEE (SR EXECUTIVE VP & COO, BILH)	1.00	Director	$0	$48,246	$1,607,722
FIELDS MD ROBERT	CHAIR PRES&TTEE (CHF CLIN OFF BILH)	1.00	Officer Director	$0	$31,658	$1,281,307
JOHNSON MD MS FACP ELIZABETH	CHAIR, PRES, & TTEE (EX-OFF)	55.00	Officer Director	$789,995	$104,587	$894,582
SNEVA JEB	ASST TREAS & TTEE (EX-OFF); CFO	1.00	Officer Director	$0	$125,683	$404,232
FISHMAN AARON	ASST TREAS, TTEE, & CFO	1.00	Officer Director	$0	$32,186	$271,757
STANSKY KATHLEEN J	TTEE & INT CFO (DIR, FP&A BILHPC)	55.00	Officer Director	$177,400	$37,453	$214,853
RIOS CINDY	TREAS (EX-OFF) (EXEC VP & CFO, BILH)	1.00	Officer	$0	$217,736	$1,689,163
KATZ ESQ JAMIE	CLERK (EX-OFF); GENERAL COUNSEL BILH	1.00	Officer	$0	$32,002	$1,302,177
JOSEPH ESQ LESLIE	ASST CLERK(EXOFF); ASST DEP GC,BILH	1.00	Officer	$0	$42,760	$417,575
REINHOLD MD MBA LARS-ERIC	ASSOC CMO NORTH REGION, BILHPC	55.00	Key Emp	$522,816	$42,448	$565,264
CONNORS LAURIE	VP, HUMAN RESOURCES BUSINESS PARTNER	1.00	Key Emp	$0	$41,992	$467,619
JOHNSTON MELISSA	COO, NORTH REGION, BILH PRIMARY CARE	55.00	Key Emp	$350,213	$16,329	$366,542
ST PIERRE LESLIE	ED, NORTH REGION BILHPC & PRACT INT	55.00	Key Emp	$268,112	$35,707	$303,819
MEDWID MD WILLIAM	PHYSICIAN, FAMILY MEDICINE	55.00	Highest	$468,654	$14,300	$482,954
OETTINGER MD JANA	PHYSICIAN, FAMILY MEDICINE	55.00	Highest	$428,025	$43,359	$471,384
PLOSKER MD MATTHEW	PHYSICIAN, FAMILY MEDICINE	55.00	Highest	$417,192	$48,517	$465,709
CAHILL MD KRISTY	PHYSICIAN, INTERNAL MEDICINE	55.00	Highest	$355,245	$48,537	$403,782
MARTINEZ MD MIGUEL	PHYSICIAN, FAMILY MEDICINE	55.00	Highest	$275,507	$47,098	$322,605
LONGWORTH MD DAVID	FRMR TTEE, CHAIR, & PRES (EX-OFF)	0.00		$0	$15,489	$264,742
BENNETT KEVIN	FRMR CFO, BILH PRIMARY CARE	0.00		$0	$222,074	$757,399

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	$19,710,313	$30,182,316	$14,334,067	$-10,472,003
2023	$18,920,394	$24,206,010	$18,826,135	$-5,285,616
2022	$19,521,677	$24,741,852	$28,464,091	$-5,220,175
2021	$23,996,852	$27,091,167	$30,996,610	$-3,094,315
2020	$22,559,603	$31,055,090	$19,424,455	$-8,495,487
2019	$23,817,653	$32,783,574	$22,198,175	$-8,965,921
2018	$15,041,549	$23,336,803	$14,995,458	$-8,295,254

BETH ISRAEL LAHEY HEALTH PRIMARY CARE