TACOMA, WA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)FRANCISCAN MEDICAL GROUP, founded in 1999, is a major nonprofit in the Health Care sector that reported $449.7M in total revenue in fiscal year 2022. Expenses of $657.1M exceeded revenue, resulting in a 46% operating deficit.
AS AN AFFILIATE OF COMMONSPIRIT HEALTH, WE MAKE THE HEALING PRESENCE OF GOD KNOWN IN OUR WORLD BY IMPROVING THE HEALTH OF THE PEOPLE WE SERVE, ESPECIALLY THOSE WHO ARE VULNERABLE, WHILE WE ADVANCE SOCIAL JUSTICE FOR ALL.
I. INTRODUCTION A. MARKET BASED ORGANIZATION MISSION AND VISION FRANCISCAN MEDICAL GROUP WAS FOUNDED IN APRIL 1999 TO PROVIDE COMMUNITY BASED HEALTH CARE SERVICES. SINCE ITS INCEPTION, FRANCISCAN...
I. INTRODUCTION A. MARKET BASED ORGANIZATION MISSION AND VISION FRANCISCAN MEDICAL GROUP WAS FOUNDED IN APRIL 1999 TO PROVIDE COMMUNITY BASED HEALTH CARE SERVICES. SINCE ITS INCEPTION, FRANCISCAN MEDICAL GROUP HAS FOCUSED ON PROVIDING QUALITY HEALTH CARE TO ALL MEMBERS OF THEIR COMMUNITY REGARDLESS OF ABILITY TO PAY FOR SERVICES. COMMUNITY SERVICE HAS ALWAYS BEEN AT THE CORE OF OUR ACTIVITY. B. COMMUNITY BENEFIT APPROACH FRANCISCAN MEDICAL GROUP CLINICS PROVIDE SERVICES ACROSS A LARGE GEOGRAPHY OF SOUTH PUGET SOUND IN WASHINGTON STATE, SERVING A DIVERSE POPULATION IN OUR SERVICE AREA. FRANCISCAN MEDICAL GROUP PROVIDES SERVICES TO PATIENTS REGARDLESS OF RACE, CREED, SEX, NATIONAL ORIGIN, HANDICAP OR ABILITY TO PAY. THE PROGRAMS AND SERVICES SERVED BY FRANCISCAN MEDICAL GROUP NOT ONLY SERVE THE COMMUNITY BUT ALSO REDUCE THE BURDEN ON GOVERNMENTAL PROGRAMS, I.E. MEDICARE AND MEDICAID. WITHOUT THE CHARITY CARE PROVIDED BY FRANCISCAN MEDICAL GROUP CLINICS, THE COMMUNITY CHARITY CARE CASES WOULD FALL UPON THE MORE EXPENSIVE EMERGENCY ROOMS IN LOCAL HOSPITALS, INCLUDING THOSE OPERATED BY LOCAL GOVERNMENT. IN ADDITION TO PROVIDING FINANCIAL ASSISTANCE, FRANCISCAN MEDICAL GROUP SUPPORTS HEALTH PROFESSIONS EDUCATION PROGRAMS AND SUBSIDIZED PROGRAMS FOR THOSE WITH DIABETES. II. QUANTITATIVE DESCRIPTION OF COMMUNITY BENEFIT: UNCOMPENSATED CARE FRANCISCAN MEDICAL GROUP PROVIDED A SIGNIFICANT LEVEL OF CHARITY CARE SERVICES TO THOSE WITH LIMITED OR AN INABILITY TO PAY. TO THE EXTENT MEDICARE AND MEDICAID REIMBURSEMENT IS BELOW COST, FRANCISCAN MEDICAL GROUP RECOGNIZES THESE AMOUNTS AS THE UNCOMPENSATED COST OF PROVIDING CARE. AS MENTIONED ABOVE, FRANCISCAN MEDICAL GROUP PROVIDES SERVICES TO PATIENTS REGARDLESS OF RACE, CREED, SEX, NATIONAL ORIGIN, HANDICAP, OR ABILITY TO PAY. MOST PHYSICIAN GROUPS IN THE STATE OF WASHINGTON HAVE EITHER PARTIALLY OR FULLY CLOSED THEIR PRACTICES TO NEW MEDICARE AND MEDICAID PATIENTS AS THE REIMBURSEMENT FOR THESE PROGRAMS HAS INCREASINGLY FALLEN SHORT OF THE COST OF PROVIDING THAT CARE. ALTHOUGH REIMBURSEMENT FOR SERVICES RENDERED IS CRITICAL TO THE OPERATION AND STABILITY OF FRANCISCAN MEDICAL GROUP, NOT ALL INDIVIDUALS POSSESS THE ABILITY TO PURCHASE ESSENTIAL MEDICAL SERVICES AND OUR MISSION IS TO SERVE THE COMMUNITY BY PROVIDING HEALTH CARE SERVICES AND HEALTH CARE EDUCATION. THEREFORE, IN KEEPING WITH FRANCISCAN MEDICAL GROUP'S COMMITMENT TO SERVE ALL MEMBERS OF ITS COMMUNITY, WE PROVIDE CARE TO PERSONS COVERED BY GOVERNMENTAL PROGRAMS ALTHOUGH THE COST OF PROVIDING THAT CARE EXCEEDS GOVERNMENTAL PROGRAM REIMBURSEMENT. FOR THE FISCAL YEAR ENDING JUNE 30, 2023, THE COST OF UNCOMPENSATED MEDICAID AMOUNTED TO $ 62 MILLION; FINANCIAL ASSISTANCE TOTALED $ 2.8 MILLION FOR THE YEAR. III. QUALITATIVE DESCRIPTION OF COMMUNITY BENEFIT A. COMMUNITY OUTREACH FOR THE POOR AND THE BROADER COMMUNITY FRANCISCAN MEDICAL GROUP PROVIDES CHARITY CARE TO THOSE WITH LIMITED OR AN INABILITY TO PAY FOR CARE. CHARITY CARE IS ALSO PROVIDED THROUGH MANY REDUCED PRICE SERVICES AND FREE PROGRAMS OFFERED THROUGHOUT THE YEAR BASED ON COMMUNITY HEALTH NEEDS. COMMUNITY HEALTH EDUCATION AROUND HEART DISEASE AND DIABETES, INCLUDING FREE, WEEKLY SUPPORT GROUPS FOR THOSE WITH DIABETES, ARE PROVIDED AT SEVERAL FRANCISCAN MEDICAL GROUP CLINICS. FRANCISCAN MEDICAL GROUP AND ITS MEMBERS PARTNER CLOSELY WITH PROJECT ACCESS PIERCE COUNTY AND PROJECT ACCESS NORTHWEST. MANY FMG PROVIDERS DONATE CARE AND VIRGINIA MASON FRANCISCAN HEALTH PROVIDES FINANCIAL CONTRIBUTIONS TO BOTH ORGANIZATIONS FOR THEIR PREMIUM ASSISTANCE PROGRAMS. IT IS SIGNIFICANT TO NOTE THAT ALL OF THE FRANCISCAN MEDICAL GROUP PRIMARY CARE CLINICS OPERATE IN COMMUNITIES DESIGNATED BY THE US DEPARTMENT OF HEALTH AS MEDICALLY UNDERSERVED AREAS FOR ACCESS TO PRIMARY CARE. FRANCISCAN MEDICAL GROUP SUPPORTS TRAINING FOR MEDICAL STUDENTS TO HELP FILL THIS GAP IN OUR COMMUNITIES.
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)| 2022 | 2021 | Change | |
|---|---|---|---|
| Revenue | $449,672,207 | $444,900,424 | +0.0% |
| Expenses | $657,094,717 | $631,294,583 | +0.0% |
| Net Income | $-207,422,510 | $-186,394,159 | +0.1% |
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 |
|---|---|---|---|---|---|---|
| CHRISTINE HAMMER | NEUROSURGEON | 40.00 |
Highest
|
$1,977,712 | $29,431 | $2,007,143 |
| EATHAR RAZAK | ELECTRO PHYSIOLOGIST | 40.00 |
Highest
|
$1,659,728 | $48,992 | $1,708,720 |
| MARC GOLDMAN | NEUROSURGEON | 40.00 |
Highest
|
$1,552,852 | $42,608 | $1,595,460 |
| SATYAVARDHAN PULUKURTHY | CARDIOLOGIST | 40.00 |
Highest
|
$1,408,714 | $46,638 | $1,455,352 |
| SHARIFF NASIR | ELECTRO PHYSIOLOGIST | 40.00 |
Highest
|
$1,355,167 | $49,735 | $1,404,902 |
| DONNA SMITH | PRESIDENT | 40.00 |
Officer
|
$831,374 | $31,798 | $863,172 |
| DAVID NOSACKA | TREASURER/SVP&DIV CFO | 2.00 |
Officer
|
$0 | $43,336 | $722,710 |
| JANE ROOT | CHIEF OPERATING OFFICER FMG | 40.00 |
Officer
|
$404,992 | $37,762 | $442,754 |
| DAVID BUTCHERITE | FORMER TREASURER/ DIV VP FINANCE | 0.00 |
|
$0 | $38,691 | $377,289 |
| MIRIAM CHAMBLISS | SECRETARY/VP DIV GENERAL COUNSEL | 2.00 |
Officer
|
$0 | $46,418 | $368,023 |
| JAMES SMALLEY | BOARD MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| JAMES CIVILLA | BOARD MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| ULI CHI PHD | CHAIR | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| ROBERT LEMON | VICE CHAIR | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| LARRY BJORK | BOARD MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| BOB CARLILE | BOARD MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| SR JUDE CONNELLY OSF | BOARD MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| CAROLYN CORVI | BOARD MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| SR RUTH GOODWIN OSF | BOARD MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| TOD HAMACHEK | BOARD MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| MICHAEL HOFFMAN | BOARD MEMBER (THROUGH 12/31/22) | 2.00 |
Director
|
$0 | $0 | $0 |
| DENNIS HUNTHAUSEN | BOARD MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| KAREN LEE | BOARD MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| SR ANNE MCNAMARA OSF | BOARD MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| GREGG MEYER MD MSC | BOARD MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| JOHN OPPENHEIMER | BOARD MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| DIANN PULS CPA | BOARD MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | No data | No data | No data | No data |
| 2024 | No data | No data | No data | No data |
| 2023 | $449,672,207 | $657,094,717 | $241,262,844 | $-207,422,510 |
| 2022 | $444,900,424 | $631,294,583 | $267,954,857 | $-186,394,159 |
| 2021 | $412,494,717 | $616,668,742 | $292,427,828 | $-204,174,025 |
| 2020 | $382,261,799 | $583,644,653 | $309,464,643 | $-201,382,854 |
| 2019 | $549,175,101 | $550,856,288 | $134,272,107 | $-1,681,187 |
| 2018 | $535,479,211 | $545,004,162 | $143,990,204 | $-9,524,951 |
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