BURLINGTON, MA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)TUFTS MEDICINE INC, founded in 2014, is a mid-sized nonprofit in the Health Care sector that reported $15.9M in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year. Expenses of $85.4M exceeded revenue, resulting in a 436% operating deficit.
OUR MISSION, VISION AND VALUES ARE OUR GUIDING LIGHT. TOGETHER, WE BRING THEM TO LIFE WITH OUR CARE, OUR ACTIONS, OUR LEARNING AND OUR COMMITMENT TO EXCELLENCE.AT TUFTS MEDICINE, WE KNOW THE POWER OF COMMUNITY. IT'S THAT FEELING OF BEING WELCOMED AND APPRECIATED FOR EXACTLY WHO YOU ARE. IT'S THAT SENSE OF CONNECTION IN SHARING DIVERSE STORIES AND EXPERIENCES WITH COWORKERS, PATIENTS AND THEIR FAMILIES. IT'S THAT STRENGTH YOU GAIN TO PURSUE YOUR PASSIONS, KNOWING YOUR TEAM IS THERE TO SUPPORT YOU EVERY STEP OF THE WAY. THAT'S HEALTHCARE WITH HEART.WE COME FROM DIFFERENT BACKGROUNDS, CULTURES AND BELIEFS, UNITED UNDER ONE MISSION: EMPOWERING PEOPLE TO LIVE THEIR BEST LIVES BY REIMAGINING HEALTHCARE, ADVANCING KNOWLEDGE AND PIONEERING DISCOVERY. BY WORKING TOGETHER, WE CAN REALIZE OUR VISION OF CREATING THE MOST EQUITABLE AND FRICTIONLESS HEALTHCARE EXPERIENCE IN THE WORLD.
TUFTS MEDICINE, INC. ("TUFTS MEDICINE"), WHICH IS HEREINAFTER REFERRED TO AS THE "SYSTEM", REPRESENTS A UNIQUE MODEL THAT SERVES THE HEALTH NEEDS OF COMMUNITIES WHILE ENHANCING THE AFFORDABILITY OF...
TUFTS MEDICINE, INC. ("TUFTS MEDICINE"), WHICH IS HEREINAFTER REFERRED TO AS THE "SYSTEM", REPRESENTS A UNIQUE MODEL THAT SERVES THE HEALTH NEEDS OF COMMUNITIES WHILE ENHANCING THE AFFORDABILITY OF CARE. THE SYSTEM FOCUSES ON CARE INTEGRATION, POPULATION HEALTH MANAGEMENT, PATIENT ACCESS, AND OPERATIONAL PERFORMANCE. TUFTS MEDICINE IS THE SOLE CORPORATE MEMBER OF TUFTS MEDICAL CENTER PARENT, INC. AND CONSOLIDATED AFFILIATES ("TUFTS MC"), CIRCLE HEALTH, INC. AND CONSOLIDATED AFFILIATES ("CIRCLE HEALTH"), MELROSEWAKEFIELD HEALTHCARE, INC. AND CONSOLIDATED AFFILIATES ("MELROSEWAKEFIELD"), TUFTS MEDICINE CARE AT HOME PARENT ("TMCAH"), FORMERLY HOME HEALTH FOUNDATION, INC ("HHF"), TUFTS MEDICINE INTEGRATED NETWORK, INC. ("TMIN"), FORMERLY WELLFORCE CLINICALLY INTEGRATED NETWORK, TUFTS MEDICINE PHARMACY, LLC. ("TM PHARMACY"), TUFTS MEDICINE INDEMNITY COMPANY, LTD ("TMEDIC"), FORMERLY WELLFORCE INDEMNITY COMPANY, LTD, AND TUFTS MEDICINE HIGH RELIABILITY INSTITUTE, INC.TUFTS MEDICINE IS DESIGNED TO ENHANCE THE DELIVERY OF PATIENT-CENTERED CARE AND IMPROVE ACCESS TO HIGH-QUALITY, CLINICALLY INTEGRATED HEALTHCARE SERVICES FOR PATIENTS THROUGHOUT MANY COMMUNITIES IN THE COMMONWEALTH OF MASSACHUSETTS. TUFTS MEDICINE IS WORKING TO FACILITATE IMPLEMENTATION OF A COMMON, COORDINATED APPROACH, ACROSS THE THREE AFFILIATING HEALTH CARE SYSTEMS, TO POPULATION HEALTH MANAGEMENT. THIS WILL ALLOW FOR INNOVATION IN CARE MANAGEMENT MODELS, DISSEMINATION OF BEST PRACTICES, SHARED INFRASTRUCTURE AND INFORMATION SYSTEMS, AND INCREASED SCALE TO SERVE A GREATER POPULATION BASE. THE ROLE OF TUFTS MEDICINE FOR TUFTS MC, CIRCLE HEALTH, MELROSEWAKEFIELD AND TMCAH WILL FACILITATE RATIONALIZING CARE DELIVERY TO ASSURE THAT SERVICES ARE PROVIDED IN THE MOST EFFICIENT SETTING, WITH INCENTIVES FOR CLOSE COLLABORATION AMONG PHYSICIANS, FACILITIES AND OTHER HEALTH CARE PROVIDERS. THE ROLE OF TUFTS MEDICINE WILL ALSO SERVE TO FOSTER EFFECTIVE CLINICAL INTEGRATION ACROSS THE CONTINUUM OF CARE, INCLUDING IMPLEMENTING STRATEGIES PROMOTING RISK-SHARING AND HIGH PERFORMANCE OUTCOMES. THROUGH TUFTS MEDICINE, TUFTS MC, CIRCLE HEALTH, MELROSEWAKEFIELD AND TMCAH WILL DEFINE A COMMON SET OF RESPONSIBILITIES THAT HONORS THEIR RESPECTIVE AUTONOMY WHILE PROMOTING A COLLABORATIVE AND COMPREHENSIVE FUTURE-LOOKING STRATEGIC VISION PROACTIVELY RESHAPING HOW HEALTH CARE IS PROVIDED.
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 | $15,925,462 | $18,106,195 | -0.1% |
| Expenses | $85,418,882 | $51,672,972 | +0.7% |
| Net Income | $-69,493,420 | $-33,566,777 | +1.1% |
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 |
|---|---|---|---|---|---|---|
| MICHAEL DANDORPH | PRESIDENT & CEO | 49.00 |
Officer
Director
|
$1,726,150 | $359,711 | $2,085,861 |
| GARY CAMPBELL | CHAIR | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| PATRICIA CAMPBELL | VICE CHAIR | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| RAYMOND ANSTISS JR | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| JOSEPH AVELLONE MD | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| CYNTHIA BARGINERE | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| FIRDAUS BHATHENA | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| MICHELE CRAGE MD | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| DAVID CRISS MD | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $131,601 |
| KARA DOYLE | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| DAMIAN FOLCH MD | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| BRIAN KAVOOGIAN | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| SUNIL KUMAR PH D | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| PHILIP LEMBO | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| NAOMI PRENDERGAST | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| JEFFREY SHAMES | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| CLARISSA YANG MD | TRUSTEE | 1.00 |
Director
|
$0 | $35,187 | $740,167 |
| MONICA VALDES LUPI | TRUSTEE (UNTIL 4/24) | 1.00 |
Director
|
$0 | $0 | $0 |
| ANDREW DEVOE | TREASURER & CFO | 49.00 |
Officer
|
$0 | $0 | $0 |
| SUSAN GREEN | VP/CFO/TREAS (UNTIL 12/23) | 49.00 |
Officer
|
$1,047,084 | $38,808 | $1,085,892 |
| ZACHARY REDMOND | SECRETARY | 48.00 |
Officer
|
$599,263 | $70,149 | $669,412 |
| PHIL OKALA | CHIEF OPERATING OFFICER | 40.00 |
Key Emp
|
$1,121,244 | $16,258 | $1,137,502 |
| SYED SHAFIQUR RAB | CIP, EVP DIGITAL TRANS OFFICER | 49.00 |
Key Emp
|
$882,437 | $36,906 | $919,343 |
| SABRINA GRANVILLE | EVP, CHIEF HR OFFICER | 49.00 |
Key Emp
|
$644,925 | $111,909 | $756,834 |
| NIOBIS QUEIRO | SVP, REVENUE CYCLE (UNTIL 1/23) | 40.00 |
Key Emp
|
$516,028 | $2,081 | $518,109 |
| JAMIE WATSON | SVP, REVENUE CYCLE (UNTIL 6/24) | 40.00 |
Key Emp
|
$277,823 | $11,553 | $289,376 |
| LEE ERICKSON | CHIEF QUALITY OFFICER (UNTIL 3/23) | 50.00 |
Highest
|
$901,428 | $107,056 | $1,008,484 |
| MICHAEL NEWMAN | SVP, CHIEF CLINICAL OFFICER | 40.00 |
Highest
|
$802,569 | $118,194 | $920,763 |
| ROSA COLON-KOLACKO | CHIEF DIVERSITY OFFICER (UNTIL 7/23) | 40.00 |
Highest
|
$509,106 | $62,199 | $571,305 |
| JEFFREY GROSS | SVP, BUSINESS DEV (UNTIL 1/23) | 40.00 |
Highest
|
$468,413 | $2,720 | $471,133 |
| TODD WHITECROSS | SVP, PAYER STRATEGY | 40.00 |
Highest
|
$455,081 | $9,977 | $465,058 |
| CRAIG BEST | FORMER EVP, PHYS ORG. | 0.00 |
|
$188,461 | $0 | $188,461 |
| MICHAEL TARNOFF MD | FORMER TRUSTEE | 0.00 |
|
$0 | $196,769 | $1,390,602 |
| JOSEPH PENNACCHIO MD | FORMER TRUSTEE | 0.00 |
|
$0 | $23,875 | $499,186 |
| PAUL SUMMERGRAD MD | FORMER TRUSTEE | 0.00 |
|
$0 | $57,022 | $417,693 |
| JOSEPH WHITE | FORMER TRUSTEE | 50.00 |
|
$1,117,468 | $23,483 | $1,140,951 |
| JEFFREY WEINSTEIN ESQ | FORMER EVP/CHIEF LEGAL OFFICER | 0.00 |
|
$601,188 | $0 | $601,188 |
| JOANNE MARQUSEE | FORMER EVP, CIO | 0.00 |
|
$720,646 | $0 | $720,646 |
| DAVID STORTO | FORMER EVP/CHIEF STRATEGY OFFICER | 0.00 |
|
$376,025 | $11,402 | $387,427 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $15,925,462 | $85,418,882 | $292,513,733 | $-69,493,420 |
| 2023 | $18,106,195 | $51,672,972 | $348,784,798 | $-33,566,777 |
| 2022 | $777,039 | $25,018,352 | $261,139,193 | $-24,241,313 |
| 2022 | $777,039 | $25,018,352 | $261,139,193 | $-24,241,313 |
| 2021 | $918,614 | $21,157,348 | $254,762,428 | $-20,238,734 |
| 2020 | $530,151 | $22,849,402 | $334,551,155 | $-22,319,251 |
| 2019 | $331,190 | $25,135,179 | $137,294,159 | $-24,803,989 |
| 2018 | $1,264,043 | $21,099,319 | $6,457,112 | $-19,835,276 |
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