Knoxville, TN
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)Covenant Health, founded in 1996, is a major nonprofit in the Health Care sector that reported $235.7M in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $203.0M left a modest 14% surplus.
Covenant Health supports its member hospitals and other organizations (see Schedule A) serve the community by improving the quality of life through better health, regardless of a patient's ability to pay.
Covenant Health is a community-owned, clinically integrated healthcare enterprise dedicated to being the region's premier healthcare network through service, community and innovation. Our mission is...
Covenant Health is a community-owned, clinically integrated healthcare enterprise dedicated to being the region's premier healthcare network through service, community and innovation. Our mission is to improve the quality of life in our region through better health. Covenant Health provides patient-centered care that inspires clinical and service excellence and strives to be the first and best choice for the communities we serve. Established in 1996 by the consolidation of Fort Sanders Health System, Knoxville, Tennessee, and MMC HealthCare System in Oak Ridge, Covenant Health is governed by a voluntary board of directors composed of community leaders and medical professionals. With more than 11,000 employees, affiliated physicians and volunteers, Covenant Health is the Knoxville area's largest employer and has been named a top employer by Forbes and Becker's Hospital Review. Covenant Health serves a 25-county area and includes nine acute care hospitals in East Tennessee: Fort Sanders Regional Medical Center and Parkwest Medical Center in Knoxville, Methodist Medical Center of Oak Ridge, Fort Loudoun Medical Center in Lenoir City, LeConte Medical Center in Sevierville, Morristown-Hamblen Healthcare System in Morristown, Roane Medical Center in Harriman, Claiborne Medical Center in Tazewell and Cumberland Medical Center in Crossville. It also includes Peninsula, a division of Parkwest Medical Center. Peninsula provides behavioral health services at an inpatient hospital in Blount County and at outpatient locations in Knox, Blount, Loudon, and Sevier counties. The health system includes Covenant Medical Group, which serves patients at more than 90 office and clinic locations. CMG providers include primary care physicians and specialists in areas such as cardiology, gastroenterology, neurology, surgery, and other medical specialties. Covenant Health employs nearly 450 physicians and advanced practice clinicians throughout East Tennessee. Affiliated organizations include Thompson Cancer Survival Center, Thompson Oncology Group, Fortress Corporation and Subsidiaries, Covenant HomeCare, and Fort Sanders Perinatal Center. Covenant Health also operates Thompson Proton Center and offers innovative services such as Advanced Care at Home. Philanthropic organizations include Covenant Health Foundation and Thompson Cancer Survival Center Foundation in Knoxville, Methodist Medical Center Foundation in Oak Ridge, Dr. Robert F. Thomas Foundation in Sevierville, and Morristown-Hamblen Hospital Foundation in Morristown. Funds raised by the foundations provide services, equipment and other resources to enhance patient care.SERVICECovenant Health's various system-level divisions operationally support and facilitate the health system's not-for-profit mission of improving the region's quality of life through better health. These divisions include information technology, business office and health information management, along with system-wide departments such as human resources, learning and leadership development, and others.
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)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $235,666,950 | $207,141,823 | +0.1% |
| Expenses | $203,004,800 | $191,450,181 | +0.1% |
| Net Income | $32,662,150 | $15,691,642 | +1.1% |
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 |
|---|---|---|---|---|---|---|
| Mitchell Dickson MD | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| Stephanie Flood | Director | 1.00 |
Director
|
$964 | $0 | $964 |
| James Gibson | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| Edgar Gray | Director | 1.00 |
Director
|
$844 | $0 | $844 |
| Leslye Hartsell | Director | 1.00 |
Director
|
$1,124 | $0 | $1,124 |
| Donald Hickman | Director | 1.00 |
Director
|
$675 | $0 | $675 |
| Timothy Matthews | Director | 1.00 |
Director
|
$657 | $0 | $657 |
| Janice McKinley | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| Cletus McMahon MD | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| Dave Miller | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| Bill Myers | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| Alvin Nance | Director | 1.00 |
Director
|
$648 | $0 | $648 |
| Linda Ogle | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| King Purnell | Director/Chair | 1.00 |
Officer
Director
|
$935 | $0 | $935 |
| Jorge Sanabria | Director | 1.00 |
Director
|
$807 | $0 | $807 |
| William Seale | Director | 1.00 |
Director
|
$1,060 | $0 | $1,060 |
| Cosby Stone | Director | 1.00 |
Director
|
$1,113 | $0 | $1,113 |
| Joe Sutter | Director | 1.00 |
Director
|
$881 | $0 | $881 |
| James Tramontana MD | Director | 1.00 |
Director
|
$1,086 | $0 | $1,086 |
| James D VanderSteeg | President & CEO | 50.00 |
Officer
Director
|
$2,880,556 | $362,274 | $3,242,830 |
| Joseph C Dolan | EVP/CFO | 50.00 |
Officer
|
$861,693 | $105,608 | $967,301 |
| Kathleen F Zitzman | Chief Compliance Officer | 50.00 |
Officer
|
$396,574 | $46,864 | $443,438 |
| Philip V Schmidt | Director - Internal Audit | 50.00 |
Officer
|
$118,339 | $38,873 | $157,212 |
| Michael R Belbeck Jr | EVP-Hosp Ops | 50.00 |
Key Emp
|
$976,075 | $113,223 | $1,089,298 |
| M Douglas Campbell Jr | General Counsel | 50.00 |
Key Emp
|
$874,804 | $124,126 | $998,930 |
| Jon-David Deeson | EVP - Physician Enterprises | 50.00 |
Key Emp
|
$693,902 | $92,036 | $785,938 |
| Amanda G Halford MD | SVP - Chief Medical Officer | 50.00 |
Key Emp
|
$685,012 | $44,785 | $729,797 |
| Debra A Welch | SVP - Human Resources | 50.00 |
Key Emp
|
$629,172 | $37,337 | $666,509 |
| William C Clabough | SVP - Chief Development Officer | 50.00 |
Key Emp
|
$595,648 | $55,012 | $650,660 |
| William M Ward | SVP - Chief Information Officer | 50.00 |
Key Emp
|
$546,146 | $46,120 | $592,266 |
| Debra R Honey | SVP - Chief Nursing Officer | 50.00 |
Key Emp
|
$529,114 | $38,502 | $567,616 |
| Teresa A Giles | Fmr SVP - Finance (through May 2024) | 50.00 |
Key Emp
|
$458,845 | $21,194 | $480,039 |
| Keith N Altshuler | President/CAO - Fort Sanders Reg | 0.00 |
Highest
|
$659,599 | $36,837 | $696,436 |
| Gordon E Lintz | President/CAO - Morristown-Hamblen | 0.00 |
Highest
|
$564,436 | $26,089 | $590,525 |
| Devan C Johnson | President/CAO - Parkwest | 0.00 |
Highest
|
$562,166 | $50,375 | $612,541 |
| Jeremy H Biggs | President/CAO - Methodist Med Ctr | 0.00 |
Highest
|
$530,098 | $45,244 | $575,342 |
| Wesley C Halford MD | Medical Director Physician | 50.00 |
Highest
|
$389,543 | $22,159 | $411,702 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $235,666,950 | $203,004,800 | $1,956,038,753 | $32,662,150 |
| 2023 | $207,141,823 | $191,450,181 | $1,801,246,321 | $15,691,642 |
| 2022 | $220,269,899 | $180,206,350 | $1,741,953,217 | $40,063,549 |
| 2021 | $188,217,463 | $163,022,804 | $1,927,401,864 | $25,194,659 |
| 2020 | $186,599,540 | $160,638,163 | $1,756,557,265 | $25,961,377 |
| 2019 | $259,416,121 | $153,436,488 | $1,638,320,485 | $105,979,633 |
| 2018 | $193,250,266 | $166,435,527 | $1,386,644,162 | $26,814,739 |
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