HEALTH FIRST SHARED SERVICES INC

EIN: 593336894 501(c)(3) Health Care

ROCKLEDGE, FL

Total Revenue
$337,507,437
Total Expenses
$303,635,663
Total Assets
$2,043,524,511
Net Assets
$1,584,104,176
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Financial Trends

Organization Details

Formation Year
1995
Legal Domicile
FL
Principal Officer
TERRY L FORDE
Phone
3214345150
Tax Period
2023-10-01 to 2024-09-30

HEALTH FIRST SHARED SERVICES INC, founded in 1995, is a major nonprofit in the Health Care sector that reported $337.5M in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Expenses of $303.6M left a modest 10% surplus.

Mission

WE EXIST TO IMPROVE THE HEALTH AND WELLNESS OF THE COMMUNITIES WE SERVE.

Program Service Accomplishments

Program 1
Expenses: $251,250,942 Revenue: $288,355,019

THE PRIMARY EXEMPT PURPOSE OF HEALTH FIRST SHARED SERVICES, INC. (HFSS) IS TO PROVIDE SUPPORT AND SERVICES THAT ENABLE THE INTEGRATED DELIVERY NETWORK TO PROVIDE EXCEPTIONAL PATIENT CARE AT HEALTH...

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THE PRIMARY EXEMPT PURPOSE OF HEALTH FIRST SHARED SERVICES, INC. (HFSS) IS TO PROVIDE SUPPORT AND SERVICES THAT ENABLE THE INTEGRATED DELIVERY NETWORK TO PROVIDE EXCEPTIONAL PATIENT CARE AT HEALTH FIRST'S CAPE CANAVERAL HOSPITAL, HEALTH FIRST'S HOLMES REGIONAL MEDICAL CENTER, HEALTH FIRST'S PALM BAY HOSPITAL, HEALTH FIRST'S VIERA HOSPITAL AND HOSPICE OF HEALTH FIRST, INC. THE SERVICES PROVIDED BY HFSS INCLUDE, BUT ARE NOT LIMITED TO: STRATEGIC PLANNING, MANAGEMENT, ADMINISTRATIVE SUPPORT SERVICES, AND INTEGRAL SERVICES IN IT AND FINANCE.MORE SPECIFICALLY, HFSS SUPPORTS ITS AFFILIATED ORGANIZATIONS WITH:1. COORDINATION OF PATIENT CARE SERVICES TO REDUCE THE DUPLICATION OF RESOURCES AND INCREASE THE COST-EFFICIENCY OF PATIENT CARE OFFERED AT ANY HEALTH FIRST ENTITY;2. PROVISION OF ENHANCED CLINICAL, MARKETING, PLANNING, FINANCIAL AND ORGANIZATIONAL SERVICES AND EXPERTISE, AND;3. SERVICE AREA COMMUNITY HEALTH PLANNING TO ENSURE THAT COLLECTIVELY ALL HEALTH FIRST ENTITIES PROVIDE THE HEALTHCARE SERVICES REQUIRED TO MEET THE NEEDS OF RESIDENTS WHO RESIDE IN BREVARD COUNTY.SOME EXAMPLES OF ENHANCED CLINICAL CARE INCLUDE VIRTUAL VISITS, PHREESIA AND KYRUUS. THESE ADVANCEMENTS ENSURE THERE IS ACCESS TO CARE WITH EASE AND CONVENIENCE. VIRTUAL VISITS ARE A WAY FOR PHYSICIANS TO OFFER HEALTHCARE TO THOUSANDS OF PEOPLE FROM THE COMFORT OF THEIR OWN HOMES. HEALTH FIRST HAS INVESTED DEEPLY IN THIS TECHNOLOGY TO HELP KEEP OUR COMMUNITY SAFE.THE VIRTUAL VISIT TOOLS WE EFFECTIVELY AND IMMEDIATELY IMPLEMENTED DURING THE FIRST WAVE OF COVID-19 MADE A HUGE IMPACT AS HEALTH FIRST CONTINUED TO PROVIDE QUALITY CARE TO OUR PATIENTS.WITH THE COVID-19 PANDEMIC, THE FUTURE OF VIRTUAL VISITS WAS NO LONGER A "NICE TO HAVE" BUT INSTEAD, A "MUST HAVE," BASED ON THE RESPONSE HEALTH FIRST EXPERIENCED FROM PATIENTS.THE HEALTH FIRST NETWORK HAS EXPANDED THESE SERVICES TO INCLUDE WELL CARE VISITS, CHRONIC DISEASE MANAGEMENT, ACUTE VISITS, AND SPECIALIST CARE. IN FISCAL YEAR 2024, THERE WERE 57,227 VIRTUAL VISIT PATIENTS THAT WERE SEEN BY HEALTH FIRST PROVIDERS.HEALTH FIRST PARTNERED WITH ATHENAHEALTH TO MODERNIZE OUR PATIENT INTAKE PROCESS.ATHENAHEALTH'S ELECTRONIC MEDICAL RECORD (EMR) SYSTEM ENHANCES THE PATIENT EXPERIENCE WITH A STREAMLINED, USER-FRIENDLY PORTAL. PATIENTS CAN CONVENIENTLY CHECK IN ONLINE BEFORE THEIR APPOINTMENT OR USE SELF-SERVICE TOOLS IN THE OFFICE FOR FASTER REGISTRATION. THE SYSTEM ALLOWS SECURE ONLINE PAYMENTS, REAL-TIME UPDATES, AND MESSAGING, SO PATIENTS CAN STAY INFORMED AND WAIT IN THEIR VEHICLES UNTIL THEY ARE NOTIFIED. WITH INTEGRATED TOOLS FOR ACCURATE RECORDKEEPING, ATHENA IMPROVES COMMUNICATION BETWEEN PATIENTS AND THEIR CARE TEAMS. HEALTH FIRST HAS ANNOUNCED THE INVESTMENT OF MORE THAN $160 MILLION AS PART OF A TWO-YEAR TRANSFORMATIVE PLAN TO MODERNIZE AND TRANSFORM BREVARD COUNTY'S HEALTHCARE EXPERIENCE FOR PATIENTS, HEALTH PLANS MEMBERS, PROVIDERS, AND CARE TEAMS.HEALTH FIRST IS PARTNERING WITH HEALTHCARE SOFTWARE VENDOR EPIC TO IMPROVE THE HEALTH AND WELLNESS OF THE COMMUNITIES WE SERVE. EPIC'S ELECTRONIC HEALTH RECORD (EHR) SYSTEM PROVIDES A MODERN, INTUITIVE PLATFORM TO ENHANCE THE PATIENT EXPERIENCE. WITH EPIC'S MYCHART, PATIENTS CAN EASILY CHECK IN ONLINE BEFORE THEIR APPOINTMENT OR USE CONVENIENT SELF-SERVICE OPTIONS IN THE OFFICE FOR FASTER REGISTRATION. THE SYSTEM OFFERS SECURE ONLINE BILL PAYMENTS, REAL-TIME APPOINTMENT UPDATES, AND MESSAGING, ALLOWING PATIENTS TO WAIT IN THEIR VEHICLES UNTIL NOTIFIED IT'S TIME TO ENTER. EPIC'S COMPREHENSIVE TOOLS STREAMLINE COMMUNICATION BETWEEN PATIENTS AND THEIR CARE TEAMS, ENSURING ACCURATE RECORDS AND SEAMLESS CARE COORDINATION.HEALTH FIRST OFFERS AN ENTERPRISE-WIDE PLATFORM FOR OUR ONLINE PROVIDER DIRECTORY NAMED KYRUUS. THE ENHANCED DIRECTORY STREAMLINES OUR ONLINE MEDICAL STAFF PROVIDER DIRECTORY. THE IMPROVEMENT WILL INCORPORATE SEARCH FILTER CRITERIA, MOBILE OPTIMIZATION AND MORE. THIS NOT ONLY INCREASED EASE OF ACCESS TO OUR NETWORK BUT ALSO BOOSTED THE CUSTOMER EXPERIENCE. WITH THE HEALTH FIRST DIRECTORY, CUSTOMERS CAN SEARCH USING KEY WORDS AND ACRONYMS, SUCH AS "PCP" INSTEAD OF "PRIMARY CARE PROVIDER, AND EVEN ABBREVIATIONS, SUCH AS "AFIB" INSTEAD OF "ATRIAL FIBRILLATION." THE SEARCH WILL ALSO INCORPORATE FILTERS SO CUSTOMERS CAN MATCH THEMSELVES WITH THE MOST APPROPRIATE PROVIDER FOR THEIR NEEDS.AS A NOT-FOR-PROFIT HEALTHCARE NETWORK, HEALTH FIRST IS COMMITTED TO IMPROVING THE HEALTH OF OUR COMMUNITY AND PROVIDING SERVICES REGARDLESS OF A PERSON'S ABILITY TO PAY. HEALTH FIRST'S DEDICATION TO HIGH-QUALITY, PATIENT-CENTERED HEALTHCARE IS REFLECTED IN OUR MISSION-DRIVEN COMMUNITY BENEFITS, WHICH IN FISCAL YEAR 2024 TOTALED OVER $98 MILLION. THIS INCLUDED OVER $52 MILLION IN CHARITY CARE, PROVIDED AS A "SAFETY NET" FOR THOSE WHO WERE UNINSURED OR UNABLE TO PAY FOR HEALTHCARE SERVICES AND WEREN'T ELIGIBLE FOR PUBLIC/ GOVERNMENT PROGRAMS. EVERY THREE YEARS, HEALTH FIRST CONDUCTS A COMMUNITY HEALTH NEEDS ASSESSMENT. BASED ON THE MOST RECENT REPORT IN 2022, RECOMMENDATIONS WERE MADE BY HEALTH FIRST LEADERSHIP AND APPROVED BY THE HEALTH FIRST BOARD OF TRUSTEES TO ADDRESS THE FOLLOWING HEALTH DISPARITIES IN BREVARD COUNTY: 1- NUTRITION, PHYSICAL ACTIVITY, AND WEIGHT 2- ACCESS TO HEALTHCARE FOR A COPY OF OUR HEALTH FIRST SHARED SERVICES, INC. COMMUNITY BENEFIT REPORT, VISIT: HTTPS://HF.ORG/ABOUT-US/GIVING-BACK

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $442,602
Program Service Revenue $288,355,019
Investment Income $48,985,867
Other Revenue $-276,051
TOTAL REVENUE $337,507,437

Expense Breakdown

Grants Paid $50,000
Salaries & Benefits $140,684,337
Fundraising Expenses $0
Program Expenses $251,250,942
Other Expenses $162,901,326
TOTAL EXPENSES $303,635,663

Year-over-Year Comparison

2023 2022 Change
Revenue $337,507,437 $388,946,104 -0.1%
Expenses $303,635,663 $358,050,153 -0.2%
Net Income $33,871,774 $30,895,951 +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
13
Independent Members
13
Employees
12099
Volunteers
9

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
8
$2,385,522
Total Directors
14
$623,063
Key Employees
4
$2,702,511
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TAYLOR K SMITH CHAIR/INTERIM CEO HFSS END 8/5/2024 4.00
Officer Director
$516,274 $0 $516,274
LARRY S BISHOP MD TRUSTEE 1.00
Director
$27,206 $0 $27,206
JAMES C SHAW VICE CHAIR 1.00
Officer Director
$23,489 $0 $23,489
ROBERT K HENRY TRUSTEE 1.00
Director
$19,875 $0 $19,875
JOSEPH GURRI MD TRUSTEE 1.00
Director
$18,219 $0 $18,219
DANA S KILBORNE TREASURER 1.00
Officer Director
$18,000 $0 $18,000
SCOTT T MIKUEN SECRETARY 1.00
Officer Director
$0 $0 $0
DAVID BANKS TRUSTEE END 6/2024 1.00
Director
$0 $0 $0
ROBERT DUANE DAVIS MD TRUSTEE 1.00
Director
$0 $0 $0
KIM K PATRICK TRUSTEE 1.00
Director
$0 $0 $0
RANDALL L HAFFNER TRUSTEE 1.00
Director
$0 $0 $0
TODD GOODMAN TRUSTEE 1.00
Director
$0 $0 $0
AUDREY GREGORY TRUSTEE BEG. 6/2024 1.00
Director
$0 $0 $0
DR THEODORE RICHARDSON III TRUSTEE BEG. 10/2023 1.00
Director
$0 $0 $0
BRETT A ESROCK EXEC VP CFO/COO END 7/15/2024 4.00
Officer
$980,450 $28,047 $1,008,497
PAULA B JUST CHIEF EXPERIENCE OFFICER 30.00
Officer
$790,028 $29,234 $819,262
TERRY L FORDE PRESIDENT/CEO BEG. 8/5/2024 4.00
Officer
$0 $0 $0
KRISTEN M PULIO EXECUTIVE VP CFO BEG. 09/23/2024 4.00
Officer
$0 $0 $0
JEFFREY C STALNAKER MD SR VP CCO/INTERIM CEO HOSP END 7/31/2024 20.00
Key Emp
$875,347 $26,054 $901,401
NICHOLAS W ROMANELLO ESQ SR VP/CORP COUNSEL 4.00
Key Emp
$817,230 $30,967 $848,197
CHEYANA D FISCHER CHIEF CLINICAL OFFICER CNO 20.00
Key Emp
$467,815 $27,036 $494,851
MICHAEL W CARR SR. VP CIO 30.00
Key Emp
$429,877 $28,185 $458,062
FRANK S LETHERBY SR VP CEO COMMUNITY HEALTH 3.00
Highest
$764,659 $29,647 $794,306
MATTHEW F GERRELL SR VP/CEO HFAP 3.00
Highest
$747,521 $31,656 $779,177
MICHAEL J MCLAUGHLIN CMO HOSPITAL DIVISION 40.00
Highest
$546,113 $27,997 $574,110
MARK S ROSENBLOOM VP CLINICAL TRANSFORMATION 40.00
Highest
$460,668 $22,054 $482,722
DOUGLAS B MCKEE VP CHIEF MED INFORMATICS 40.00
Highest
$404,395 $28,987 $433,382
STEVEN P JOHNSON FORMER PRESIDENT/CEO HFI 0.00
$1,703,863 $20,932 $1,724,795
ALAN L PRESTWOOD FORMER TRUSTEE END 9/30/2023 0.00
$151,760 $0 $151,760
MARTIN W ISENMAN MD FORMER TRUSTEE 0.00
$20,061 $0 $20,061
DALE A DETTMER ESQ FORMER TRUSTEE 0.00
$14,956 $0 $14,956
JOHN F BREITFELLER FORMER VICE CHAIR 0.00
$14,449 $0 $14,449
PAMELA A GATTO FORMER TRUSTEE 0.00
$13,570 $0 $13,570
DREW A RECTOR FORMER EXEC VP CSO 0.00
$1,195,781 $27,757 $1,223,538
MICHAEL A SCIALDONE FORMER EVP/CFO HFI 0.00
$799,466 $20,263 $819,729
WILLIAM J WALDERS FORMER CIO SR VP OPER SUPP 0.00
$196,536 $5,252 $201,788
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 $337,507,437 $303,635,663 $2,043,524,511 $33,871,774
2023 $388,946,104 $358,050,153 $1,819,267,420 $30,895,951
2022 $291,100,092 $319,774,723 $1,587,486,387 $-28,674,631
2021 $271,514,090 $265,668,880 $1,676,572,579 $5,845,210
2019 $279,445,215 $238,991,416 $1,106,623,021 $40,453,799
2018 $236,663,256 $221,908,048 $1,010,974,076 $14,755,208
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