Parkwest Medical Center

EIN: 581897274 501(c)(3) Health Care

Knoxville, TN

Total Revenue
$469,844,949
Total Expenses
$468,875,356
Total Assets
$289,892,165
Net Assets
$248,453,101
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Financial Trends

Organization Details

Formation Year
1990
Legal Domicile
TN
Principal Officer
James D VanderSteeg
Phone
8653745329
Tax Period
2024-01-01 to 2024-12-31

Parkwest Medical Center, founded in 1990, is a major nonprofit in the Health Care sector that reported $469.8M in total revenue in fiscal year 2024.

Mission

Parkwest Medical Center provides quality healthcare, in alignment with Covenant Health's mission to serve the community by improving the quality of life through better health, regardless of the patient's ability to pay.

Program Service Accomplishments

Program 1
Expenses: $462,140,704 Revenue: $450,794,256

Parkwest Medical Center ("Parkwest") admitted its first patient on December 10, 1973. It became a not-for-profit hospital in 1990 and became part of Covenant Health in 1996. Peninsula, a division of...

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Parkwest Medical Center ("Parkwest") admitted its first patient on December 10, 1973. It became a not-for-profit hospital in 1990 and became part of Covenant Health in 1996. Peninsula, a division of Parkwest Medical Center, ("Peninsula") is the behavioral services division of Parkwest and the region's largest provider of behavioral health services. Peninsula has a 119-bed hospital in Blount County providing mental health services for adolescents and adults. Peninsula also provides outpatient services in four counties. SERVICEWest Knoxville's largest medical center, Parkwest has an organizational culture focused on treating every patient and visitor with courtesy, compassion, and respect. It is best known for excellence in orthopedics, cardiology, surgical and behavioral health. Parkwest and Peninsula served 257,260 patients in 2024. Of these, 237,082 were outpatients and 20,178 were inpatients with an average length-of-stay of 4.54 days. PUTTING PATIENTS FIRSTIn 2024, Parkwest was recognized by U.S. News & World Report as #7 in its list of "Best Hospitals in Tennessee, and the #2 hospital in Knoxville metro area. Parkwest was rated as a "High-Performing" hospital by US News & World Report for COPD, colon cancer surgery, heart attack, heart bypass surgery, heart failure, hip replacement, knee replacement, prostate cancer surgery, and stroke care.BlueCross BlueShield gave the hospital a Blue Distinction Center+ designation for knee replacement and hip surgery, spine surgery, and maternity care, and a Blue Distinction Center designation for bariatric surgery. The Joint Commission has designated the hospital as an Advanced Primary Stroke Center, and Parkwest is a member of Covenant Health's stroke hospital network, which links Covenant Health's member hospitals in providing rapid diagnosis and treatment of stroke. Parkwest was recognized with a GoldPlus Stroke Quality Achievement Award by the American Heart Association/American Stroke Association. Parkwest has earned the GoldPlus Quality Award from the American Heart Association, recognizing consistent compliance with evidence-based quality measures for care of patients experiencing heart attacks, and a Gold award for non-STEMI quality measures.IMPROVING THE COMMUNITY'S QUALITY OF LIFE THROUGH BETTER HEALTHIn 2024 Parkwest provided over $219,000 worth of transportation, which includes payment to Priority Ambulance for patients to receive treatments, and taxi/transportation fares for patients who had been discharged and needed transportation home.In 2024 Parkwest participated in the Greater Knoxville Heart Walk, raising funds and awareness for heart disease. Parkwest also participates in local health fair screenings for area businesses and groups, providing carotid ultrasound screenings and physical therapy ergonomic education, as well as stroke education. In 2024 the employees at Parkwest also raised money for our internal employee chaplain's fund, which helps employees who are experiencing unusual or extraordinary financial needs.As a member of Covenant Health, Parkwest and Peninsula have adopted the "We Honor Veterans" program, recognizing and celebrating patients and employees in our facility who are veterans. When a patient is identified as a veteran they are recognized with a certificate and pinning ceremony.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,778,104
Program Service Revenue $464,514,178
Investment Income $296,873
Other Revenue $3,255,794
TOTAL REVENUE $469,844,949

Expense Breakdown

Grants Paid $465,281
Salaries & Benefits $131,061,271
Fundraising Expenses $0
Program Expenses $462,140,704
Other Expenses $337,348,804
TOTAL EXPENSES $468,875,356

Year-over-Year Comparison

2024 2023 Change
Revenue $469,844,949 $437,288,615 +0.1%
Expenses $468,875,356 $437,726,924 +0.1%
Net Income $969,593 $-438,309 -3.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
20
Independent Members
19
Employees
2677
Volunteers
102

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
5
$5,120,028
Total Directors
20
$3,253,624
Key Employees
3
$705,600
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Mitchell Dickson MD Director 0.00
Director
$0 $0 $0
Stephanie Flood Director 0.00
Director
$0 $0 $964
James Gibson Director 0.00
Director
$0 $0 $0
Edgar Gray Director 0.00
Director
$0 $0 $844
Leslye Hartsell Director 0.00
Director
$0 $0 $1,124
Donald Hickman Director 0.00
Director
$0 $0 $675
Timothy Matthews Director 0.00
Director
$0 $0 $657
Janice McKinley Director 0.00
Director
$0 $0 $0
Cletus McMahon MD Director 0.00
Director
$0 $0 $0
Dave Miller Director 0.00
Director
$0 $0 $0
Bill Myers Director 0.00
Director
$0 $0 $0
Alvin Nance Director 0.00
Director
$0 $0 $648
Linda Ogle Director 0.00
Director
$0 $0 $0
King Purnell Director/Chair 0.00
Officer Director
$0 $0 $935
Jorge Sanabria Director 0.00
Director
$0 $0 $807
William Seale Director 0.00
Director
$0 $0 $1,060
Cosby Stone Director 0.00
Director
$0 $0 $1,113
Joe Sutter Director 0.00
Director
$0 $0 $881
James Tramontana MD Director 0.00
Director
$0 $0 $1,086
James D VanderSteeg President & CEO 0.00
Officer Director
$0 $362,274 $3,242,830
Joseph C Dolan EVP/CFO 0.00
Officer
$0 $105,608 $967,301
Devan C Johnson President & CAO 50.00
Officer
$0 $50,375 $612,541
M Scott Hamilton VP - Financial Services 40.00
Officer
$251,190 $45,231 $296,421
Jacquelyn A Alt VP - Chief Nursing Officer 50.00
Key Emp
$214,134 $33,376 $302,880
Elizabeth Clary VP - Behavioral Health 50.00
Key Emp
$215,485 $29,536 $245,021
Colin McRae VP - Support Services 50.00
Key Emp
$156,987 $712 $157,699
Thomas P Jensen MD Physician - Behavioral 50.00
Highest
$386,561 $51,536 $438,097
Rajendra T Raman MD Physician - Behavioral 50.00
Highest
$370,445 $52,925 $423,370
Surendra K Sharma MD Physician - Behavioral 50.00
Highest
$359,753 $54,740 $414,493
John G Kupfner MD Physician - Behavioral 50.00
Highest
$358,049 $51,337 $409,386
Shyam P Vuyyuru MD Physician - Behavioral 50.00
Highest
$344,735 $43,916 $388,651
Michael R Belbeck Jr Fmr Interim Pres & CAO-PWMC/EVP-Hosp Ops 0.00
$0 $113,223 $1,089,298
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 $469,844,949 $468,875,356 $289,892,165 $969,593
2023 $437,288,615 $437,726,924 $292,118,482 $-438,309
2022 $399,381,923 $407,458,942 $314,311,866 $-8,077,019
2021 $417,785,459 $386,340,842 $331,847,569 $31,444,617
2020 $414,579,394 $366,734,308 $368,608,977 $47,845,086
2019 $389,898,558 $355,421,228 $333,753,120 $34,477,330
2018 $362,201,943 $325,972,901 $264,584,394 $36,229,042
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