Washington RegIonal Medical System

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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

1988

Legal Domicile

Phone

4794631120

Tax Period

2023-01-01 to 2023-12-31

Washington RegIonal Medical System, founded in 1988, is a mid-sized nonprofit that reported $97.9M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $154.4M exceeded revenue, resulting in a 58% operating deficit.

Mission

WASHINGTON REGIONAL MEDICAL SYSTEM (WRMS) PROVIDES MGT, STRATEGIC PLANNING AND FINANCIAL SUPPORT TO AND FOR WRMC, WR MEDICORP, WRM SERVICES, WRM FOUNDATION, AND EUREKA REGIONAL HEALTH. IN ADDITION, VARIOUS MEMBERS OF MANAGEMENT SERVE IN SUPERVISORY ROLES FOR SUBSIDIARY ENTITIIES. THROUGH OVERSIGHT OF THE BOARD OF DIRECTORS AND THE GUIDANCE OF VARIOUS MEMBERS OF MANAGEMENT, WRMS PROVIDES SERVICES FOR THESE SUBSIDIARY COMPANIES TO UTILIZE IN ORDER TO ACCOMPLISH THEIR TAX-EXEMPT PURPOSE OF PROVIDING HEALTHCARE TO RESIDENTS OF THE NORTHWEST ARKANSAS AREA. IN ADDITION, WRMS OPERATES PHYSICIAN CLINICS PROVIDING PRIMARY CARE, SPECIALTY CARE, AND HOSPITAL-BASED CARE, E.G. HOSPITALISTS AND EMERGENCY CARE.

Program Service Accomplishments

Program 1

Expenses: $89,371,077 Revenue: $50,594,236

TWENTY SIX SPECIALTY CLINICS EMPLOY 77 PHYSICIANS AND 63 APN'S/PA'S FOCUSED ON SENIOR HEALTH, NEUROSURGERY, PAIN MANAGEMENT, UROLOGY, RADIOLOGY SERVICES, INTERNAL MEDICINE, AND CARDIAC SERVICES...

TWENTY SIX SPECIALTY CLINICS EMPLOY 77 PHYSICIANS AND 63 APN'S/PA'S FOCUSED ON SENIOR HEALTH, NEUROSURGERY, PAIN MANAGEMENT, UROLOGY, RADIOLOGY SERVICES, INTERNAL MEDICINE, AND CARDIAC SERVICES. THESE CLINICS PROVIDED SERVICES OF 834,222 RELATIVE VALUE UNITS IN 2023. PATIENTS RECEIVE TREATMENT REGARDLESS OF ABILITY TO PAY.

Program 2

Expenses: $19,737,532 Revenue: $10,995,206

TWO DIAGNOSTIC CLINICS EMPLOY 39 PHYSICIANS AND 11 APN'S/PA'S. THESE CLINICS PROVIDED SERVICES OF 258,983 RELATIVE VALUE UNITS IN 2023. PATIENTS RECEIVE TREATMENT REGARDLESS OF ABILITY TO PAY.

Program 3

Expenses: $13,539,936 Revenue: $7,760,978

SEVEN FAMILY MEDICAL CLINICS EMPLOY 18 PHYSICIANS AND 7 APN'S/PA'S FOCUSED ON GENERAL HEALTH CARE NEEDS PROVIDING SERVICES OF 100,507 RELATIVE VALUE UNITS IN 2023. PATIENTS RECEIVE TREATMENT...

SEVEN FAMILY MEDICAL CLINICS EMPLOY 18 PHYSICIANS AND 7 APN'S/PA'S FOCUSED ON GENERAL HEALTH CARE NEEDS PROVIDING SERVICES OF 100,507 RELATIVE VALUE UNITS IN 2023. PATIENTS RECEIVE TREATMENT REGARDLESS OF ABILITY TO PAY.

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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 $2,448,798

Program Service Revenue $95,376,111

Investment Income $32,193

Other Revenue $0

TOTAL REVENUE $97,857,102

Expense Breakdown

Grants Paid $0

Salaries & Benefits $122,764,094

Fundraising Expenses $0

Program Expenses $136,844,799

Other Expenses $31,628,269

TOTAL EXPENSES $154,392,363

Year-over-Year Comparison

	2023	2022	Change
Revenue	$97,857,102	$89,140,267	+0.1%
Expenses	$154,392,363	$141,962,314	+0.1%
Net Income	$-56,535,261	$-52,822,047	+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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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

Employees

897

Volunteers

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

$2,298,039

Total Directors

$104,896

Key Employees

$216,086

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	CHAIRMAN	1.0	Officer Director	$0	$0	$0
N/A	VICE CHAIR	1.0	Officer Director	$0	$16,036	$104,896
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	OUTGOING CFO	1.0	Officer	$0	$39,841	$524,570
N/A	VP & CHIEF ACCOUNTING OFFICER	1.0	Officer	$0	$20,576	$182,667
N/A	PRESIDENT & CEO	1.0	Officer	$0	$29,534	$942,664
N/A	SVP & GENERAL COUNSEL	1.0	Officer	$0	$32,244	$543,242
N/A	VP CLINICAL OPERATIONS	40.0	Key Emp	$189,352	$26,734	$216,086
N/A	PHYSICIAN	20.0	Highest	$1,774,218	$34,909	$1,809,127
N/A	PHYSICIAN	20.0	Highest	$1,520,043	$33,001	$1,553,044
N/A	PHYSICIAN	20.0	Highest	$1,704,912	$26,986	$1,731,898
N/A	PHYSICIAN	20.0	Highest	$1,839,065	$29,777	$1,868,842
N/A	PHYSICIAN	20.0	Highest	$1,478,965	$29,255	$1,508,220

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
2023	$97,857,102	$154,392,363	$43,629,806	$-56,535,261
2022	$89,140,267	$141,962,314	$47,014,301	$-52,822,047
2021	$85,295,447	$129,239,936	$34,846,976	$-43,944,489
2020	$74,209,887	$118,958,278	$34,982,712	$-44,748,391