BAPTIST MEMORIAL MEDICAL GROUP INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1997

Legal Domicile

Principal Officer

JUSTIN RHODES

Phone

9012273627

Tax Period

2023-10-01 to 2024-09-30

BAPTIST MEMORIAL MEDICAL GROUP INC, founded in 1997, is a major nonprofit in the Health Care sector that reported $241.0M in total revenue in fiscal year 2023. Expenses of $278.1M exceeded revenue, resulting in a 15% operating deficit.

Mission

BAPTIST MEMORIAL MEDICAL GROUP, INC. IS A PROVIDER OF AMBULATORY HOSPITAL SERVICES IN SUPPORT OF ITS MISSION OF PROVIDING HEALTH CARE TO THE COMMUNITY. BAPTIST MEMORIAL MEDICAL GROUP, INC. PROVIDES DIRECT PRIMARY CARE MEDICAL SERVICES THROUGH ITS EMPLOYED MEDICAL PROVIDERS. BAPTIST MEMORIAL MEDICAL GROUP, INC. PROVIDES SUCH SERVICES TO THE COMMUNITY AT LARGE.

Program Service Accomplishments

Program 1

Expenses: $225,054,646 Revenue: $240,434,395

BAPTIST MEMORIAL MEDICAL GROUP, INC. PROVIDES AMBULATORY SERVICES IN SUPPORT OF ITS MISSION OF PROVIDING HEALTH CARE TO THE COMMUNITY. BAPTIST MEMORIAL MEDICAL GROUP, INC. OFFERS MEDICAL CARE THAT...

BAPTIST MEMORIAL MEDICAL GROUP, INC. PROVIDES AMBULATORY SERVICES IN SUPPORT OF ITS MISSION OF PROVIDING HEALTH CARE TO THE COMMUNITY. BAPTIST MEMORIAL MEDICAL GROUP, INC. OFFERS MEDICAL CARE THAT REFLECTS THE THREE-FOLD MINISTRY OF CHRIST-PREACHING, TEACHING AND HEALING, AND IS COMMITTED TO PROVIDING QUALITY CARE TO THE COMMUNITIES IT SERVES. BAPTIST MEMORIAL MEDICAL GROUP, INC. OFFERS MEDICAL CARE TO PERSONS LIVING IN AREAS OF ARKANSAS, TENNESSEE, AND MISSISSIPPI, WHO ARE CURRENTLY UNDERSERVED BY THE MOST BASIC OF HEALTH CARE SERVICES. BAPTIST MEMORIAL MEDICAL GROUP, INC. USES ITS SERVICES AS A MEANS OF PROVIDING QUALITY HEALTH CARE TO EVERYONE IN THE COMMUNITY. THE PATIENT-FOCUSED HEALTH CARE IS DELIVERED IN A FRIENDLY, COMPASSIONATE, AND RESPONSIVE MANNER AS REFLECTED IN THE "SERVICE FIRST" PHILOSOPHY OF THE ENTIRE BAPTIST MEMORIAL HEALTH CARE SYSTEM: RESPECT FOR THE INDIVIDUAL AND THE VALUE OF DIVERSITY, TRUST AND TEAMWORK, AND CONTINUOUS IMPROVEMENT. THE RESOURCES OF BAPTIST MEMORIAL HEALTH CARE CORPORATION, THE SOLE MEMBER OF BAPTIST MEMORIAL MEDICAL GROUP, INC., AND ITS AFFILIATES ARE AVAILABLE TO IDENTIFY AND PLACE PRIMARY CARE PRACTITIONERS AND SPECIALISTS IN AREAS WHERE THEY ARE MOST NEEDED. IN ADDITION, BAPTIST MEMORIAL MEDICAL GROUP, INC. RECRUITS AND SUPPORTS PHYSICIANS MOVING TO RURAL, UNDERSERVED AREAS IN ARKANSAS, TENNESSEE, AND MISSISSIPPI. FINANCIAL SUPPORT IS NECESSARY TO AID PHYSICIANS BEGINNING THEIR PRACTICE IN UNDERSERVED AREAS. THE PRESENCE OF THESE PHYSICIANS IN THE AREA MAKES IT POSSIBLE FOR RESIDENTS TO AVOID TRAVEL TO NEIGHBORING COMMUNITIES TO RECEIVE BASIC HEALTH CARE SERVICES. BAPTIST MEMORIAL MEDICAL GROUP, INC. IS A MULTISPECIALTY PHYSICIAN GROUP WITH MORE THAN 500 PHYSICIANS REPRESENTING OVER 40 SPECIALTIES INCLUDING PEDIATRICS, FAMILY PRACTICE, ONCOLOGY, WOMEN'S HEALTH, NEUROLOGY, GASTROENTEROLOGY, CARDIOLOGY, AND ORTHOPAEDIC SURGERY, TO NAME A FEW. BAPTIST MEMORIAL MEDICAL GROUP, INC. PROVIDES CARE TO PERSONS COVERED BY GOVERNMENTAL PROGRAMS FROM WHICH WE MAY RECEIVE PAYMENT AT LESS THAN MARKET VALUE REIMBURSEMENT. RECOGNIZING ITS MISSION TO THE COMMUNITY, SERVICES ARE PROVIDED TO MEDICARE, TENNCARE, AND UNINSURED PATIENTS. TO THE EXTENT REIMBURSEMENT IS BELOW COST, BAPTIST MEMORIAL MEDICAL GROUP, INC. RECOGNIZES THESE AMOUNTS AS CHARITY CARE IN MEETING ITS MISSION TO THE ENTIRE COMMUNITY. CHARITY CARE IS PROVIDED THROUGH MANY REDUCED-PRICE SERVICES AND FREE PROGRAMS OFFERED THROUGHOUT THE YEAR BASED UPON ACTIVITIES AND SERVICES WHICH BAPTIST MEMORIAL MEDICAL GROUP, INC. BELIEVES WILL SERVE A BONA FIDE COMMUNITY HEALTH NEED. THROUGH ITS AFFILIATION WITH BAPTIST MEMORIAL HEALTH CARE CORPORATION AND ITS AFFILIATED BAPTIST MEMORIAL HOSPITALS IN ARKANSAS, TENNESSEE, AND MISSISSIPPI, BAPTIST MEMORIAL MEDICAL GROUP, INC. PROVIDES THE FOLLOWING PROGRAMS AND SERVICES FOR THE COMMUNITY: - COMMUNITY HEALTH FAIRS - PHYSICAL EXAMS FOR STUDENTS ACTIVE IN COMPETITIVE SPORTS - TENNESSEE NURSING ASSOCIATION MEETINGS - EDUCATIONAL CLASSES, SHADOWING AND MENTORING OPPORTUNITIES FOR STUDENTS - PROVISION OF STAFF NURSES TO HELP WITH SENIOR CITIZENS' HEALTH FAIR - EMPLOYEE ACTIVITIES TO RAISE MONEY FOR UNITED WAY, AMERICAN HEART ASSOCIATION, AND VARIOUS OTHER CHARITABLE EVENTS - PROVISION OF PHYSICIANS FOR SPEAKING ENGAGEMENTS ON TOPICAL HEALTH ISSUES TO THE COMMUNITY

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $553,953

Program Service Revenue $242,508,543

Investment Income $0

Other Revenue $-2,032,128

TOTAL REVENUE $241,030,368

Expense Breakdown

Grants Paid $4,254

Salaries & Benefits $224,421,611

Fundraising Expenses $0

Program Expenses $225,054,646

Other Expenses $53,640,225

TOTAL EXPENSES $278,066,090

Year-over-Year Comparison

	2023	2022	Change
Revenue	$241,030,368	$241,599,300	0.0%
Expenses	$278,066,090	$269,404,852	+0.0%
Net Income	$-37,035,722	$-27,805,552	+0.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

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

Governance

Voting Members

Independent Members

N/A

Employees

2003

Volunteers

N/A

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

$4,240,397

Total Directors

$19,125,216

Key Employees

$266,329

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JASON M LITTLE	DIRECTOR	0.23	Director	$0	$108,222	$3,155,218
BRADLEY A WOLF MD	PHYSICIAN/DIRECTOR	40.00	Director	$1,759,332	$75,615	$1,834,947
WILLIAM A GRIFFIN	DIRECTOR (THRU 10/23)	0.23	Director	$0	$66,668	$1,381,083
ALEKSANDAR JANKOV MD	PHYSICIAN/DIRECTOR	40.00	Director	$1,271,349	$100,009	$1,371,358
GARY C ANDERSON	DIRECTOR	0.23	Director	$0	$88,606	$1,300,745
MARK E SWANSON MD	PRESIDENT/CEO/DIRECTOR	19.66	Officer Director	$0	$24,823	$1,220,645
KIRK EDDLEMAN MD	PHYSICIAN/DIRECTOR	40.00	Director	$945,298	$68,834	$1,014,132
JAMES L WARNOCK MD	PHYSICIAN/DIRECTOR	0.23	Director	$0	$116,411	$929,585
ELIZABETH LUND MD	PHYSICIAN/DIRECTOR	40.00	Director	$734,810	$50,213	$785,023
KEITH HARRIS MD	PHYSICIAN/DIRECTOR	0.23	Director	$0	$72,824	$682,557
JEFFREY WRIGHT MD	PHYSICIAN/DIRECTOR	0.23	Director	$0	$73,204	$652,432
STEPHEN WOODRUFF MD	DIRECTOR	0.23	Director	$0	$84,371	$638,103
KIMBERLY O YOUNG	DIRECTOR (AS OF 11/23)	0.23	Director	$0	$47,942	$620,481
CARY FINN MD	PHYSICIAN/CHAIRMAN	38.85	Director	$522,437	$67,492	$589,929
JUSTIN RHODES	VP/CEO/DIRECTOR (AS OF 09/24)	3.33	Officer Director	$0	$84,677	$526,012
DAVID WEBB MD	PHYSICIAN/DIRECTOR	40.00	Director	$366,444	$87,784	$454,228
CHARLES WOODALL MD	DIRECTOR	0.23	Director	$0	$0	$412,905
WILLIAM LIGHT MD	PHYSICIAN/DIRECTOR	40.00	Director	$313,615	$52,054	$365,669
GREGORY JENKINS MD	PHYSICIAN/DIRECTOR	40.00	Director	$281,012	$79,323	$360,335
OWITA MAYS MD	PHYSICIAN/DIRECTOR (THRU 12/23)	40.00	Director	$272,737	$58,470	$331,207
KIM SLATE DNP	NP/DIRECTOR	40.00	Director	$235,722	$51,405	$287,127
JANET D GEIGER MD	PHYSICIAN/DIRECTOR (AS OF 01/24)	40.00	Director	$172,186	$39,309	$211,495
GREGORY M DUCKETT	SECRETARY	0.23	Officer	$0	$90,318	$1,346,501
WILLIAM J LANCASTER	CMO	40.00	Officer	$436,786	$87,810	$524,596
ROBERT A VEST	COO	40.00	Officer	$324,279	$67,499	$391,778
ANDREW D JETER	CFO	34.42	Officer	$187,549	$43,316	$230,865
WARREN G ROGERS	EXEC. DIR. TRANSITION OPS.	40.00	Key Emp	$212,708	$53,621	$266,329
JOSEPH SANTOSO MD	PHYSICIAN	40.00	Highest	$2,504,349	$76,515	$2,580,864
JACQUES SAMSON	PHYSICIAN	40.00	Highest	$1,218,508	$51,480	$1,269,988
DONALD GRAVENOR	PHYSICIAN	40.00	Highest	$1,180,621	$84,305	$1,264,926
EVA PROCTOR	PHYSICIAN	40.00	Highest	$1,147,150	$84,996	$1,232,146
JULIUS KATO MD	PHYSICIAN	40.00	Highest	$1,142,911	$55,338	$1,198,249

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	$241,030,368	$278,066,090	$517,443,439	$-37,035,722
2023	$241,599,300	$269,404,852	$452,403,050	$-27,805,552
2022	$216,980,804	$246,675,891	$409,236,025	$-29,695,087
2021	$232,152,357	$248,372,464	$349,980,187	$-16,220,107
2020	$187,701,783	$216,319,797	$284,159,124	$-28,618,014
2019	$187,465,893	$215,584,435	$293,395,267	$-28,118,542
2018	$161,509,803	$198,530,109	$262,362,899	$-37,020,306