ELKIN, NC
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)HUGH CHATHAM MEMORIAL HOSPITAL INC, founded in 1930, is a major nonprofit in the Health Care sector that reported $139.5M in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year. Expenses of $171.2M exceeded revenue, resulting in a 23% operating deficit.
TO CONSISTENLY DELIVER EXCEPTIONAL QUALITY AND SERVICE BY DEMONSTRATING THE VALUES OF SERVICE, TEAMWORK, ACCOUNTABILITY, RESPECT, AND SAFE CARE.
In 2024, Hugh Chatham Health continued their legacy of providing healthcare to all within the community. The organization's Vision, "to be the best community health system in the nation with service...
In 2024, Hugh Chatham Health continued their legacy of providing healthcare to all within the community. The organization's Vision, "to be the best community health system in the nation with service as our guiding principle," declares that every member of the team provides the highest level of care for every patient, at every location. Hugh Chatham makes a difference every day for local citizens and employers. The nonprofit healthcare system has recently received many prestigious awards that accentuate its commitment to excellence. * American Heart Association 2024 Get With The Guidelines: Stroke GOLD PLUS with Honor Roll Elite and Target: Type 2 Diabetes * American Heart Association 2024 Get With The Guidelines: Stroke Rural Silver * Women's Choice Award for Best in Obstetrics and Stroke Care for 2024 * Hugh Chatham Health at Home: Superior Performer for Patient Satisfaction by SHP In 2024, Hugh Chatham Health introduced Hugh Chatham Health - Family Medicine Residency, a three-year program that will allow doctoral students to complete a residency program geared towards family medicine in rural communities. This program will increase access to quality healthcare, offering a full spectrum of clinical learning experiences for new physicians, and include rotations in pediatrics, obstetrics, inpatient and outpatient family medicine, as well as select specialty opportunities. In partnership with Elkin Emergency Rescue Squad, Hugh Chatham Health began providing transport services for non-emergent patients, allowing additional room for those needing inpatient treatment and quicker discharge times for those already admitted. In 2024, the service transported over 450 patients throughout the Yadkin Valley and beyond. Hugh Chatham Health raised over $225,000 through events and fundraisers for the Hugh Chatham Health Foundation, which directly supports the needs of the community and its members. Funds were distributed to scholarships, community partnerships, new rehab equipment, and the Step-by-Step Program which allows individuals to receive cardiac or pulmonary rehab services without financial burden. Hugh Chatham continues to support local school systems by providing life-saving education and skills, scholarship opportunities, and sponsorships for HOSA organizations. Hugh Chatham leaders also participated in the high school's partnership with District C, an organization that encourages students to think critically and creatively while preparing them for the workforce. Hugh Chatham continues to provide a virtual care platform, caring for patients who are unable to attend a physical visit or are otherwise home-bound. Hugh Chatham Virtual Care allows access to providers via website or application. A complete listing of services is available on the health system's website at www.HughChatham.org. For real-time updates and stories about the people who make this health system successful, visit Hugh Chatham Health on Facebook, Instagram, Twitter and LinkedIn.
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 | $139,460,394 | $158,347,937 | -0.1% |
| Expenses | $171,234,558 | $159,591,960 | +0.1% |
| Net Income | $-31,774,164 | $-1,244,023 | +24.5% |
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 |
|---|---|---|---|---|---|---|
| BOB BALL | Treasurer | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| CYNTHIA GONZALES | Chairman | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| ELENA THOMASSON | Asst. Secretary/Treasurer | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| PHIL HARRIS | Secretary | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| ANN ASHMAN | Board Member | 1.0 |
Director
|
$0 | $0 | $0 |
| BILL JOHNSON | Board Member | 1.0 |
Director
|
$0 | $0 | $0 |
| CRYSTAL MORPHIS | Board Member | 1.0 |
Director
|
$0 | $0 | $0 |
| DAVID ACKERMAN | Board Member | 1.0 |
Director
|
$0 | $0 | $0 |
| DAVID CLINE | Board Member | 1.0 |
Director
|
$0 | $0 | $0 |
| DR MURUG SUBBIAH | Board Member/Chief of Staff | 40.0 |
Director
|
$488,986 | $84,346 | $573,332 |
| KEVIN AUSTIN | Board Member | 1.0 |
Director
|
$0 | $0 | $0 |
| MARK STEPHENS | Board Member | 1.0 |
Director
|
$0 | $0 | $0 |
| MYRA COX | Board Member | 1.0 |
Director
|
$0 | $0 | $0 |
| TERRY DARNELL | Board Member | 1.0 |
Director
|
$0 | $0 | $0 |
| KENT THOMPSON | CFO (THRU 10/26/23) | 40.0 |
Officer
|
$240,298 | $32,941 | $273,239 |
| KEVIN MAY | CFO | 40.0 |
Officer
|
$165,677 | $0 | $165,677 |
| PAUL HAMMES | CEO | 40.0 |
Officer
|
$457,089 | $83,698 | $540,787 |
| ANDREW TATE | CPO & VP AMB Services (THRU 2/20/24) | 40.0 |
Key Emp
|
$258,718 | $29,242 | $287,960 |
| JONATHAN SNYDER | CMO | 40.0 |
Key Emp
|
$643,823 | $73,017 | $716,840 |
| MARY BLACKBURN | CNO | 40.0 |
Key Emp
|
$258,097 | $84,362 | $342,459 |
| DOMINICK CARBONE | PHYSICIAN | 40.0 |
Highest
|
$780,251 | $76,065 | $856,316 |
| JOHNATHAN WHITAKER | PHYSICIAN | 40.0 |
Highest
|
$906,892 | $73,889 | $980,781 |
| MARC STEVENS | PHYSICIAN | 40.0 |
Highest
|
$801,001 | $51,377 | $852,378 |
| SARBA KUNDU | PHYSICIAN | 40.0 |
Highest
|
$1,122,367 | $77,346 | $1,199,713 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $139,460,394 | $171,234,558 | $221,645,326 | $-31,774,164 |
| 2023 | $158,347,937 | $159,591,960 | $245,776,061 | $-1,244,023 |
| 2022 | $155,071,046 | $145,782,846 | $255,924,917 | $9,288,200 |
| 2021 | $158,103,524 | $139,604,302 | $281,613,706 | $18,499,222 |
| 2020 | $139,242,159 | $126,593,608 | $259,644,895 | $12,648,551 |
| 2019 | $129,645,236 | $121,152,513 | $239,305,498 | $8,492,723 |
| 2018 | $123,674,410 | $114,740,340 | $240,612,785 | $8,934,070 |
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