Reading Hospital

Organization Overview

Reading Hospital is located in Reading, PA. The organization was established in 1936. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 06/2020, Reading Hospital employed 7,833 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.

For the year ending 06/2020, Reading Hospital generated $1.0b in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $971.5m during the year ending 06/2020. While expenses have increased by 4.1% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE COMPASSIONATE, ACCESSIBLE, HIGH QUALITY, COST EFFECTIVE CARE TO THE COMMUNITY: TO PROMOTE HEALTH; TO EDUCATE HEALTHCARE PROFESSIONALS; AND TO PARTICIPATE IN APPROPRIATE CLINICAL RESEARCH.

Describe the Organization's Program Activity:

Part 3 - Line 4a

INPATIENT CARE - 184,237 PATIENT DAYS READING HOSPITAL PROVIDES 725 BEDS FOR PROVISION OF COMPREHENSIVE INPATIENT, OUTPATIENT, AND EMERGENT CARE. INPATIENT CARE IS PROVIDED IN 2 CRITICAL CARE UNITS, 2 INTERMEDIATE CARE UNITS, 3 ACUTE REHABILITATION UNITS, AND 13 MEDICAL SURGICAL UNITS WITH SUB-SPECIALTIES THAT INCLUDE ONCOLOGY, NEUROLOGY, CARDIOLOGY, HEART FAILURE, ORTHOPEDICS, TRAUMA, BARIATRIC SURGERY, AND MEDICAL COMPLEXITY. IN ADDITION, READING HOSPITAL PROVIDES COMPREHENSIVE MATERNAL CHILD HEALTH SERVICES THAT INCLUDE OBSTETRICS, NEONATAL INTENSIVE CARE, INPATIENT PEDIATRIC MEDICAL SURGICAL CARE, AND PEDIATRIC EMERGENCY SERVICES. INPATIENT SERVICES ARE SUPPORTED BY HOSPITAL-BASED HEMODIALYSIS, APHERESIS, AND VASCULAR ACCESS SERVICES. READING HOSPITAL INPATIENT CARE OFFERS THE FOLLOWING HIGH LEVEL SERVICES TO SUPPORT COMMUNITIES WITHIN BOTH ITS PRIMARY AND SECONDARY MARKETS: 1.REGIONAL CANCER, CARDIAC, AND PRIMARY STROKE CENTERS 2.REGIONAL TRANSPLANT (KIDNEY AND LIVER) CENTER 3.TRAUMA LEVEL 1 CENTER (ONLY LEVEL 1 CENTER WITHIN THE COUNTY) 4.REGIONAL LEVEL III NEONATAL INTENSIVE CARE UNIT 5.VIRTUAL INTENSIVE CARE UNIT (VICU) 6.CHARITY CARE PROGRAM IN ADDITION, READING HOSPITAL INPATIENT CARE IS ALIGNED WITH SYSTEM PROGRAMS TO IMPROVE POST DISCHARGE CARE OUTCOMES, CARE ACROSS THE CONTINUUM FROM INPATIENT TO AMBULATORY SETTING, AND DECREASED READMISSION, INCLUDING 1.COMPREHENSIVE POPULATION HEALTH SERVICES 2.TOWER HEALTH STREET MEDICINE PROGRAM - A PROGRAM TO PROVIDE HEALTH SERVICES AND PREVENTATIVE CARE TO HOMELESS POPULATION WITHIN THE COMMUNITY 3.TELE-HEALTH SUPPORT OF HEART FAILURE PATIENT POPULATION TO HELP PREVENT READMISSIONS THROUGH THE REMOTE MONITORING OF BP AND WEIGHT READING HOSPITAL WAS MAGNET DESIGNATED FOR NURSING AND PATIENT CARE EXCELLENCE IN 2016 AND IS CURRENTLY IN THE REDESIGNATION PROCESS; THIS NATIONAL LEVEL DESIGNATION BY THE AMERICAN NURSES CREDENTIALING CENTER IS RENEWED EVERY FOUR YEARS. THIS DESIGNATION INDICATES THAT READING HOSPITAL INPATIENT UNITS, EMERGENCY DEPARTMENT, PERIOPERATIVE SERVICES, AND AMBULATORY CARE DEPARTMENTS EXCEED NATIONAL BENCHMARKS FOR NURSING QUALITY INDICATORS, PATIENT SATISFACTION WITH NURSING CARE, AND NURSE SATISFACTION. EMERGENCY CARE - 116,201 EMERGENCY ROOM VISITS READING HOSPITAL EMERGENCY DEPARTMENT PROVIDES EMERGENCY, URGENT AND PRIMARY CARESERVICES TO OUR COMMUNITY "24/7/365," REGARDLESS OF ABILITY TO PAY. VOLUME TO RH EMERGENCY DEPARTMENT RANKS IT AMONG THE TOP THREE IN THE STATE OF PENNSYLVANIA YEAR AFTER YEAR. AS THE AREA'S ONLY ACCREDITED LEVEL 1 TRAUMA CENTER, RH ALSO PROVIDES IMMEDIATE ACCESS THROUGH ITS EMERGENCY DEPARTMENT TO ALL SPECIALTY SERVICES, FROM TRAUMA SURGEONS TO PLASTIC SURGEONS, AND ALL AREAS OF SPECIALTY CARE. THE HOSPITAL ALSO HAS A PEDIATRIC AND PSYCHIATRIC EMERGENCY DEPARTMENT. IN ADDITION TO ITS TRAUMA CERTIFICATION, RH IS THE ONLY HOSPITAL IN THE REGION TO HAVE MADE A COMMITMENT TO ACCREDITED CARE IN STROKE AND CHEST PAIN. THE HOSPITAL ALSO IS A CENTER OF EXCELLENCE WITH 24/7 CERTIFIED RECOVERY SPECIALISTS ON SITE TO PROVIDE WARM HAND-OFFS TO PATIENTS WITH OPIOID AND OTHER SUBSTANCE USE DISORDERS. THE DEPARTMENT OFFERS SEXUAL ASSAULT NURSE EXAMINER (SANE) PROGRAM WITH THE BERKS COUNTY DISTRICT ATTORNEY TO ASSIST VICTIMS OF SEXUAL ASSAULT. THE HOSPITAL ALSO HAS AN EMERGENCY MEDICINE TRAINING PROGRAM, PARAMEDIC SCHOOL AND NURSING PROGRAM.


PHARMACY - 9,284,355 DRUGS DISPENSED READING HOSPITAL PROVIDES ACCESS TO NEEDED PRESCRIPTIONS FOR THOSE PATIENTS WHO CANNOT AFFORD THEIR MEDICATION. EACH MONTH RH ABSORBS THE COST OF PRESCRIPTION MEDICATION FOR PATIENTS OF RH WITH NO PRESCRIPTION COVERAGE. RH RECOGNIZES THE IMPORTANT ROLE OF PATIENT COMPLIANCE WITH THEIR TREATMENT, INCLUDING TAKING MEDICATION AS PRESCRIBED, AND RECOGNIZES THAT PATIENTS WITHOUT THE ABILITY TO PAY FOR THOSE MEDICATIONS WILL SIMPLY NOT COMPLY. TO ENSURE OPTIMAL PATIENT HEALTH AND THE BEST PATIENT OUTCOMES, RH ABSORBS THE COSTS OF THESE MEDICATIONS AS PART OF OUR EXEMPT PURPOSE IN OUR COMMUNITY.


OPERATING ROOM - 16,645 TOTAL SURGERIES READING HOSPITAL OPERATES IN A MARKET SERVED BY NEARLY 20 SPECIALTY, INVESTOR-OWNED FACILITIES, WHICH CARVE OUT THE BEST PAYING INSURANCE PLANS, THE HIGHEST MARGIN PROCEDURES, AND THE LEAST COMPLICATED PATIENTS TO SERVE. BY CONTINUING TO PROVIDE A FULL-SERVICE SURGICAL SERVICE, RH OFFERS THE MOST ADVANCED SURGICAL OPTIONS, FROM ROBOTIC ASSISTED, MINIMALLY INVASIVE SURGERY TO A FULL SPECTRUM OF OUTPATIENT SURGICAL OPTIONS. AND TO ENSURE OUR COMMUNITY HAS ACCESS TO SURGICAL SPECIALTIES THAT MAY BE EXPERIENCING SHORTAGES ELSEWHERE IN THE COUNTRY. RH SUPPORTS ITS SURGEONS IN THEIR FELLOWSHIP TRAINING AND RECRUITS AND RETAINS SURGEONS IN AREAS LIKE PLASTIC SURGERY - AVAILABLE ONLY DURING LIMITED HOURS OR NOT AT ALL, IN OTHER HOSPITALS IN ITS MARKET.


EXPENSES INCURRED IN PROVIDING VARIOUS OTHER MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN, OR ABILITY TO PAY. SERVICES INCLUDE BUT ARE NOT LIMITED TO: REVENUE EXPENSE RADIOLOGY 168,984,197 23,739,370 REHABILITATION 18,065,955 18,997,794 HEART & VASCULARE 78,062,443 26,971,085 BEHAVIORAL HEALTH & ADDICTION 5,424,256 6,175,063 PHYSICAL THERAPY 2,947,851 1,827,735 RESPIRATORY/SLEEP CENTER 28,039,283 12,081,182 TRAUMA CENTER 4,834,686 5,161,297 READING HOSPITAL SAW A LARGE DECREASE IN REVENUE DUE TO THE POSTPONEMENT OF NON-URGENT PROCEDURES AND THE CANCELLATION OF ELECTIVE SURGERIES. OFFSITE LABS, RADIOLOGY CENTERS AND PHYSICIAN PRACTICES WERE CLOSED CAUSING A DECREASE IN PATIENT VISITS. OPERATING EXPENSES INCREASED DUE TO THE HIGH DEMAND FOR PERSONAL PROTECTIVE EQUIPMENT (PPE) FOR STAFF AND PATIENTS AND OTHER COVID RELATED EXPENSES. A STRONG EMPHASIS WAS PLACED ON SAFETY FOR OUR PATIENTS AND STAFF. AS A HEALTHCARE ORGANIZATION, WE WORKED TO INFORM THE COMMUNITY THAT DELAYING HEALTHCARE NEEDS PLACES AN INDIVIDUAL'S HEALTH AT RISK. READING HOSPITAL INVESTED IN EXPANDING DIGITAL, VIRTUAL AND TELEHEALTH SERVICES TO STAY CONNECTED WITH THEIR PATIENTS.


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Board, Officers & Key Employees

Name (title)Compensation
Clint Matthews
Former Pres.
$1,980,329
Therese Sucher
Former Evp C
$1,131,410
William Jennings
Evp & CEO Rh
$997,940
Gary Conner
Former Evp C
$982,640
Greg Sorensen MD
Evp Cmo
$925,821
Dan Ahern
Former Evp B
$841,489

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Stevens & Lee
Legal
$6,680,351
Saxton & Stump Llc
Legal
$5,174,873
Teksystems Inc
Consulting
$4,291,319
Security Guards Inc
Security
$3,483,413
Berks Schuylkill Respiratory Spec
Physician Fees
$3,428,160
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$713,484
Government grants $56,502,897
All other contributions, gifts, grants, and similar amounts not included above$30,045
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$57,246,426
Total Program Service Revenue$929,652,693
Investment income $493,778
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $4,618,067
Net Gain/Loss on Asset Sales $2,334
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,035,019,113

Grants Recieved

Over the last fiscal year, we have identified 7 grants that Reading Hospital has recieved totaling $669,796.

Awarding OrganizationAmount
Council On Chemical Abuse Inc

Reading, PA

PURPOSE: ALCOHOL & DRUG PREVENTION, INTERVENTION & TREATMENT SERVICES, & RECOVERY SUPPORT

$348,942
Philadelphia Works Inc

Philadelphia, PA

PURPOSE: JOB-TRAINING

$85,330
Philadelphia Works Inc

Philadelphia, PA

PURPOSE: JOB-TRAINING

$85,330
Johns Hopkins University

Baltimore, MD

PURPOSE: SUB-AWARD

$65,277
Johns Hopkins University

Baltimore, MD

PURPOSE: SUB-AWARD

$65,277
Thomas Jefferson University

Philadelphia, PA

PURPOSE: PROGRAM SUPPORT

$9,820
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$12,788,355
Earnings$911,732
Admin Expense$54,259
Net Contributions$2,364,549
Other Expense$16,010,377

Peer Organizations

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