HOLMES REGIONAL MEDICAL CENTER INC

EIN: 590624371 501(c)(3) Health Care

ROCKLEDGE, FL

Total Revenue
$864,572,881
Total Expenses
$818,945,818
Total Assets
$949,988,447
Net Assets
$564,838,012
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Organization Details

Formation Year
1931
Legal Domicile
FL
Principal Officer
TAYLOR K SMITH
Phone
3214345150
Tax Period
2022-10-01 to 2023-09-30

HOLMES REGIONAL MEDICAL CENTER INC, founded in 1931, is a major nonprofit in the Health Care sector that reported $864.6M in total revenue in fiscal year 2022. Expenses of $818.9M left a modest 5% surplus.

Mission

OUR TEAM IMPROVING THE WELLNESS AND HEALTH OF YOU AND YOUR FAMILY THROUGH EXCELLENT AND COMPASSIONATE HEALTH CARE.

Program Service Accomplishments

Program 1
Expenses: $699,069,080 Revenue: $852,379,345

HOLMES REGIONAL MEDICAL CENTER (HRMC) FEATURES 550 ACUTE BEDS, 10 NICU, MORE THAN 570 PHYSICIANS AND IS THE REGION'S PREMIER TERTIARY REFERRAL HOSPITAL. HRMC OFFERS ALL PATIENTS INNOVATIVE...

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HOLMES REGIONAL MEDICAL CENTER (HRMC) FEATURES 550 ACUTE BEDS, 10 NICU, MORE THAN 570 PHYSICIANS AND IS THE REGION'S PREMIER TERTIARY REFERRAL HOSPITAL. HRMC OFFERS ALL PATIENTS INNOVATIVE, LIFE-SAVING TECHNOLOGY, INCLUDING VITALWATCH EICU WHICH COMBINES TELEMEDICINE SOFTWARE AND 24/7 ELECTRONIC MONITORING TECHNOLOGY. HRMC IS ALSO ONE OF THE LOCATIONS OF HEALTH FIRST'S FMAILY PHARMACY AND HOME OF BREVARD COUNTY'S ONLY PEDIATRIC ER AND LEVEL II NICU.HRMC WAS RANKED NO. 22 IN THE STATE OF FLORIDA (AMONG MORE THAN 300 HOSPITALS) AND NO. 1 IN BREVARD COUNTY AS PART OF THE ANNUAL U.S. NEWS & WORLD REPORT TOP HOSPITALS LIST. AS PART OF THE ANNUAL REPORT, HOSPITALS ARE RATED ACCORDING TO THEIR PERFORMANCE IN COMPLEX CARE IN MEDICAL SPECIALTIES AND IN COMMON PROCEDURES AND CONDITIONS. TO HELP PATIENTS DECIDE WHERE TO RECEIVE CARE, U.S. NEWS GENERATES HOSPITAL RANKINGS BY EVALUATING DATA ON NEARLY 5,000 HOSPITALS NATIONWIDE. TO BE NATIONALLY RANKED IN A SPECIALTY, A HOSPITAL MUST EXCEL IN CARING FOR THE SICKEST, MOST MEDICALLY COMPLEX PATIENTS. HRMC WAS RECOGNIZED FOR SEVEN HIGH PERFORMANCE SPECIALTIES (HEART ATTACK, HEART BYPASS SURGERY, HEART FAILURE, DIABETES, STROKE, HIP REPLACEMENT, PNEUMONIA). THE HEART CENTER AT HRMC PERFORMS MORE CARDIAC PROCEDURES THAN ALL THE OTHER HOSPITALS IN BREVARD. AS THE AREA'S LEADER IN HEART AND VASCULAR SERVICES, THE HEART CENTER FEATURES STATE-OF-THE ART CARDIAC CATHETERIZATION SUITES AND ADJOINING PRE-AND POST-PROCEDURE RECOVERY AREAS. A ROOFTOP LANDING SITE FOR THE FIRST FLIGHT EC135 MEDICAL HELICOPTER HAS DEDICATED ELEVATOR ACCESS TO THE LEVEL II TRAUMA CENTER, EMERGENCY HEART CATHETERIZATION, AND STROKE INTERVENTION SERVICES AT THE HEART CENTER. THE ADVANCED STRUCTURAL HEART PROGRAM OFFERS PROGRESSIVE PROCEDURES, INCLUDING TRANSCATHETER AORTIC VALVE REPLACEMENT (TAVR), WATCHMAN, MITRACLIP, AND ATRICLIP.HEALTH FIRST'S HEART & VASCULAR PROGRAM HAS RECEIVED A PRESTIGIOUS THREE-STAR OVERALL ISOLATED CABG RECOGNITION FROM THE SOCIETY OF THORACIC SURGEONS. THE HONOR RECOGNIZES HEALTH FIRST'S PATIENT CARE AND OUTCOMES RELATIVE TO ISOLATED CORONARY ARTERY BYPASS GRAFTING (CABG) PROCEDURES. THE THREE-STAR RATING, WHICH DENOTES THE HIGHEST CATEGORY OF QUALITY, PLACES HEALTH FIRST'S HEART & VASCULAR PROGRAM AMONG THE ELITE FOR HEART BYPASS SURGERY IN THE UNITED STATES AND CANADA.THE STAR RATING SYSTEM (SRS) IS ONE OF THE MOST SOPHISTICATED AND HIGHLY REGARDED OVERALL MEASURES OF QUALITY IN HEALTH CARE, RATING THE BENCHMARKED OUTCOMES OF CARDIOTHORACIC SURGERY PROGRAMS ACROSS THE UNITED STATES AND CANADA. THE STAR RATING IS CALCULATED USING A COMBINATION OF QUALITY MEASURES FOR SPECIFIC PROCEDURES PERFORMED BY AN STS ADULT CARDIAC SURGERY DATABASE PARTICIPANT.HEALTH FIRST'S HEART & VASCULAR PROGRAM NOW FEATURES THE GENERAL ELECTRIC SIGNA ARTIST MRI MACHINE THAT DOES NOT USE X-RAYS OR RADIATION BUT RELIES ON A LARGE MAGNET, RADIO WAVES, AND A COMPUTER TO CREATE A SERIES OF IMAGES OF THE HEART AND ITS SURROUNDING BLOOD VESSELS. THIS NEW CARDIAC MRI MACHINE IS THE FIRST OF ITS KIND IN BREVARD, PROVIDING PATIENTS WITH THE DIAGNOSIS THEY NEED, FASTER AND MORE COMFORTABLY.HRMC IS ALSO THE FIRST HOSPITAL IN BREVARD TO OFFER STATE-OF-THE-ART ROBOTICS-ASSISTED SURGERY (DAVINCI XI) FOR CARDIOTHORACIC, GENERAL SURGERY, UROLOGY, AND GYNECOLOGICAL PROCEDURES.THE STROKE CENTER AT HOLMES REGIONAL MEDICAL CENTER IS THE ONLY JOINT COMMISSION - CERTIFIED THROMBECTOMY-CAPABLE STROKE CENTER (TSC) SERVING BOTH BREVARD AND INDIAN RIVER COUNTY. TSC OFFERS LIFE-CHANGING INTERVENTIONAL NEURO-RADIOLOGY SERVICES FOR ADVANCED STROKE TREATMENT. THE STROKE CENTER IS EQUIPPED WITH A BIPLANE ANGIOGRAPHY AND ENDOVASCULAR SUITE, OFFERING HIGHLY ADVANCED IMAGING AND MINIMAL INVASIVE ENDOVASCULAR SURGERY AND STROKE INTERVENTION SERVICES. THE COMPREHENSIVE NEUROSCIENCE PROGRAM OFFERS ADVANCED TREATMENT AND SURGICAL PROCEDURES FOR THE BRAIN, SKULL, SPINE, SPINAL CORD, AND PERIPHERAL NERVOUS SYSTEM.PALM BAY HOSPITAL (PBH) FEATURES 120 ACUTE BEDS, AND MORE THAN 200 HIGHLY SKILLED PHYSICIANS. FOCUSED ON INNOVATIVE TECHNOLOGY, PBH OFFERS PATIENTS EXTENSIVE DIGITAL DIAGNOSTIC RADIOLOGY INCLUDING DIGITAL MAMMOGRAPHY, X-RAY, MRI, CT, ULTRASOUND, NUCLEAR MEDICINE, DIAGNOSTIC CARDIAC CATHETERIZATION, PCI PROCEDURES, TELESTROKE, TELERADIOLOGY AND VITALWATCH EICU. PBH ALSO OFFERS A FULL SPECTRUM OF HEALTHCARE SERVICES INCLUDING CARDIOPULMONARY, SURGERY, REHABILITATION, INTENSIVE CARE, EMERGENCY, ENDOSCOPY SERVICES, AND IS ONE OF THE HEALTH FIRST FAMILY PHARMACY LOCATIONS.AS PART OF THE U.S. NEWS & WORLD REPORT TOP HOSPITALS LIST, PBH EARNED HIGH PERFORMING RECOGNITION IN FOUR AREAS HIP REPLACEMENT, KNEE REPLACEMENT, DIABETES, AND CHRONIC OBSTRUCTIVE PULMONARY DISEASE (COPD).PBH RECEIVED A 4-STAR RATING BY THE CENTERS FOR MEDICARE & MEDICAID SERVICES IN 2023 AND ACHIEVED RECERTIFICATION BY THE JOINT COMMISSION AS A PRIMARY STROKE CENTER. PBH ALSO RECEIVED ACCREDITATION BY THE INTERSOCIETAL ACCREDITATION COMMISSION FOR ECHOCARDIOGRAPHY IN ADULT TRANSTHORACIC.HRMC AND PBH PROVIDE HIGH-QUALITY MEDICAL SERVICES REGARDLESS OF RACE, CREED, GENDER, NATIONAL ORIGIN, HANDICAP, AGE, OR ABILITY TO PAY. IT IS RECOGNIZED THAT NOT ALL INDIVIDUALS POSSESS THE ABILITY TO PURCHASE ESSENTIAL MEDICAL SERVICES AND FURTHER, THAT OUR MISSION IS TO SERVE THE COMMUNITY WITH RESPECT TO PROVIDING HEALTHCARE SERVICES AND HEALTHCARE EDUCATION.IN KEEPING WITH THE HOSPITAL'S COMMITMENT, TO SERVE ALL MEMBERS OF ITS COMMUNITY:(1) FREE CARE AND/OR SUBSIDIZED CARE IS PROVIDED WHERE THE NEED AND/OR INABILITY TO PAY EXISTS AS DETERMINED BY HEALTH FIRST'S FINANCIAL ASSISTANCE POLICY.(2) CARE IS PROVIDED AT BELOW COST TO PERSONS COVERED BY GOVERNMENTAL PROGRAMS SUCH AS MEDICARE AND MEDICAID.(3) FREE WELLNESS AND HEALTH ACTIVITIES AND PROGRAMS ARE PROVIDED TO THE COMMUNITY. THESE ACTIVITIES INCLUDE WELLNESS PROGRAMS, COMMUNITY EDUCATION PROGRAMS, SPECIAL PROGRAMS FOR ELDERLY, DISABLED, AND MENTALLY UNDERSERVED, ALONG WITH A VARIETY OF BROAD COMMUNITY SUPPORT ACTIVITIES.AS NOT-FOR-PROFIT HOSPITALS, HRMC AND PBH ARE SUPPORTED IN PART BY CONTRIBUTIONS TO THE HEALTH FIRST FOUNDATION.

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

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $1,077,610
Program Service Revenue $855,413,959
Investment Income $3,868,872
Other Revenue $4,212,440
TOTAL REVENUE $864,572,881

Expense Breakdown

Grants Paid $287,519
Salaries & Benefits $365,830,686
Fundraising Expenses $0
Program Expenses $699,069,080
Other Expenses $452,827,613
TOTAL EXPENSES $818,945,818

Year-over-Year Comparison

2022 2021 Change
Revenue $864,572,881 $817,212,449 +0.1%
Expenses $818,945,818 $766,680,367 +0.1%
Net Income $45,627,063 $50,532,082 -0.1%
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
12
Independent Members
10
Employees
N/A
Volunteers
540

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
10
$5,526,681
Total Directors
14
$3,130,274
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEVEN P JOHNSON PRESIDENT/CEO HFI (END 2/2023) 8.00
Officer Director
$0 $25,072 $2,208,499
BRETT A ESROCK EXEC VP CFO/COO (BEG 1/2023) 8.00
Officer Director
$0 $26,499 $761,751
TAYLOR K SMITH INTERM CEO HFI (BEG 2/2023)/CHAIR 8.00
Officer Director
$0 $0 $61,634
JAMES C SHAW VICE CHAIR 1.00
Officer Director
$0 $0 $25,837
JOSEPH GURRI MD TRUSTEE 1.00
Director
$0 $0 $20,735
DANA S KILBORNE TREASURER 1.00
Officer Director
$0 $0 $18,000
LARRY S BISHOP MD TRUSTEE (BEG 10/2021) 1.00
Director
$0 $0 $13,559
ROBERT K HENRY SECRETARY 1.00
Officer Director
$0 $0 $12,368
ALAN L PRESTWOOD TRUSTEE 1.00
Director
$0 $0 $7,891
SCOTT T MIKUEN TRUSTEE 1.00
Officer Director
$0 $0 $0
ANTHONY TRAN MD TRUSTEE 1.00
Director
$0 $0 $0
TAMER AHMED MD TRUSTEE 1.00
Director
$0 $0 $0
KIM K PATRICK TRUSTEE (BEG 10/2021) 1.00
Director
$0 $0 $0
ADAM FIER DO TRUSTEE (END 10/2022) 1.00
Director
$0 $0 $0
MICHAEL A SCIALDONE EVP/CFO HFI (END 1/2023) 8.00
Officer
$0 $21,100 $917,976
NICHOLAS W ROMANELLO ESQ ASSISTANT SECRETARY 8.00
Officer
$0 $29,300 $765,983
JEFFREY C STALNAKER MD SR VP CCO/INTERIM CEO HOSPITAL (BEG 1/1/23) 8.00
Officer
$0 $24,632 $754,633
MICHAEL J MCLAUGHLIN VP MED AFFAIRS HRMC 40.00
Highest
$0 $26,448 $497,250
BRIAN R BOGGS VP MED AFFAIRS COMM HOSP 40.00
Highest
$0 $28,634 $403,430
ANGELICA M RASTEGARLARI HOSPITAL ADMINISTRATOR HRM 40.00
Highest
$0 $23,679 $403,273
PAULA ABRAHAO PHYSICIAN ADVISOR 40.00
Highest
$0 $24,055 $355,820
ELIZABETH BORRERO PHYSICIAN ADVISOR 40.00
Highest
$0 $12,829 $347,755
JAMES S MITCHELL III FORMER EXEC VP/COO HFI (END 9/2020) 0.00
$0 $5,007 $330,404
MARTIN W ISENMAN MD FORMER TRUSTEE (END 9/2021 0.00
$0 $0 $19,132
JOHN F BREITFELLER FORMER VICE CHAIR (END 9/2 0.00
$0 $0 $14,356
DALE A DETTMER ESQ FORMER TRUSTEE (END 9/2019 0.00
$0 $0 $13,968
PAMELA A GATTO FORMER TRUSTEE (END 9/2021 0.00
$0 $0 $11,172
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 No data No data No data No data
2024 No data No data No data No data
2023 $864,572,881 $818,945,818 $949,988,447 $45,627,063
2022 $817,212,449 $766,680,367 $935,688,661 $50,532,082
2021 $776,752,725 $681,566,852 $903,830,612 $95,185,873
2020 $676,432,078 $649,829,805 $836,033,476 $26,602,273
2019 $703,877,555 $644,790,457 $843,097,274 $59,087,098
2018 $672,422,433 $606,001,681 $830,700,976 $66,420,752
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