Floyd Healthcare Management Inc
- Assets
- $548.6m
- Revenue
- $501.3m
- Investments
- $281.2k
- Employees
- 4,003
- Location
- Rome, GA
- Founding
- 09/1992
- Data as of
- 06/2021
- EIN
- 58-1973570
Organization Overview
Floyd Healthcare Management Inc is located in Rome, GA. The organization was established in 1992. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 06/2021, Floyd Healthcare Management Inc employed 4,003 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 06/2021, Floyd Healthcare Management Inc generated $501.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $461.7m during the year ending 06/2021. While expenses have increased by 4.2% per year over the past 6 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OPERATE A NON-PROFIT HOSPITAL SYSTEM AND SUPPORT 501 (C)(3)ORGANIZATIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
FLOYD HEALTHCARE MANAGEMENT, INC. OPERATES FLOYD MEDICAL CENTER, A GENERAL ACUTE CARE HOSPITAL, AND FLOYD BEHAVIORAL HEALTH, A PSYCHIATRIC UNIT. FLOYD MEDICAL CENTER IS A 300+ BED GENERAL ACUTE-CARE HEALTH INSTITUTION, OFFERING A WIDE RANGE OF SPECIALIZED SERVICES AND PROGRAMS. SUCH SERVICES AND PROGRAMS INCLUDE: ACUTE, MEDICAL/SURGICAL CARE; AMBULANCE SERVICE; BLOOD BANK; CANCER CARE UNIT; CARDIOVASCULAR LABORATORY; CORONARY CARE UNIT; CHAPLAIN SERVICE; CHEMICAL DEPENDENCY UNIT; CRISIS INTERVENTION; CT SCANNER; DIABETES CARE UNIT; LITHOTRIPSY, MEDICAL/SURGICAL INTENSIVE CARE; MAGNETIC RESONANCE IMAGING; NEUROLOGY; LEVEL III NEWBORN NURSERY/NEONATAL INTENSIVE CARE UNIT; OB/GYN; ORTHOPEDIC SURGERY, OUTPATIENT SURGERY CENTER; PATIENT REPRESENTATIVES; PEDIATRIC CARE; PHARMACY; DIAGNOSTIC RADIOLOGY; A 24-HOUR EMERGENCY SERVICE; ENDOSCOPIC LABORATORY; FAMILY PRACTICE RESIDENCY PROGRAM; PRIMARY CARE PHYSICIAN NETWORK; HEALTH EDUCATION AND PROMOTION; HOSPITAL AUXILIARY; INDUSTRIAL MEDICINE PROGRAM; INPATIENT REHABILITATION UNIT; LAPAROSCOPIC CHOLECYSTECTOMY SURGERY; LASER SURGERY; PHYSICAL THERAPY; OCCUPATIONAL THERAPY; SPEECH THERAPY; POISON CONTROL CENTER; POST-OPERATIVE RECOVERY ROOM; PROGRESSIVE INTENSIVE CARE UNIT; RESPIRATORY CARE SERVICES; SOCIAL WORK SERVICES; ULTRASOUND; CONGESTIVE HEART FAILURE CLINIC; WOUND OSTOMY CLINIC; BREAST CENTER, MOBILE MAMMOGRAPHY. DURING FISCAL YEAR 2021, PATIENT DAYS (INCLUDING PSYCH AND REHAB) AT FLOYD MEDICAL CENTER TOTALED 81,259 AND DISCHARGES TOTALED 13,926. FLOYD MEDICAL CENTER PROVIDED APPROXIMATELY 51,339,000 IN DIRECT CHARITY AND INDIGENT CARE, AND IT INCURRED UNREIMBURSED MEDICARE AND MEDICAID ADJUSTMENTS OF 677,122,000 AND 239,648,000 RESPECTIVELY. A COPY OF THE REPORT TO THE COMMUNITY FOR FLOYD MEDICAL CENTER CAN BE FOUND AT WWW.FLOYD.ORG.
CHEROKEE MEDICAL CENTER (CMC) IS A 60-BED ACUTE CARE HOSPITAL LOCATED IN CENTRE, ALABAMA. CMC ALSO OPERATES THREE RURAL HEALTH CLINICS LOCATED IN CENTRE AND PIEDMONT, AL. CMC IS OPERATED BY FLOYD CHEROKEE MEDICAL CENTER, LLC (FCMC), AN ALABAMA LIMITED LIABILITY CORPORATION WHOSE SOLE MEMBER IS FHMI. DURING FISCAL YEAR 2021, CMC PROVIDED 4,345 PATIENT DAYS AND DISCHARGES TOTALED 880; THE RURAL HEALTH CLINICS HAD 18,842 VISITS. CMC PROVIDED APPROXIMATELY 202,000 IN DIRECT CHARITY AND INDIGENT CARE, AND IT INCURRED UNREIMBURSED MEDICARE AND MEDICAID ADJUSTMENTS OF 15,399,000 AND 12,532,000 RESPECTIVELY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kurt Stuenkel Pres/secre/c | OfficerTrustee | 50 | $929,491 |
Sheila Bennett VP & Cno | Officer | 50 | $747,065 |
Warren Rigas SVP COO | Officer | 50 | $700,062 |
Tommy Manning Corporate Co | Officer | 50 | $590,408 |
Jeffery D Buda Chf Informat | Officer | 50 | $514,028 |
Matthew Cornforth MD Physician | 50 | $498,940 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
In Compass Health Inc Hospitalist | 6/29/21 | $7,344,650 |
Cerner Corp It Services | 6/29/21 | $5,635,296 |
Morrison Management Specialists Dietary Svc | 6/29/21 | $5,566,677 |
Georgia Group Services Llc Anesthesia | 6/29/21 | $4,911,459 |
Aramark Management Services Housekeeping | 6/29/21 | $4,405,578 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $170,500 |
| Government grants | $23,630,024 |
| All other contributions, gifts, grants, and similar amounts not included above | $51,262 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,851,786 |
| Total Program Service Revenue | $468,914,670 |
| Investment income | $3,997,404 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $203,036 |
| Net Gain/Loss on Asset Sales | $2,853,045 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $170,376 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $501,302,033 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $197,534 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $8,151,943 |
| Compensation of current officers, directors, key employees. | $7,703,367 |
| Compensation to disqualified persons | $8,140 |
| Other salaries and wages | $186,991,912 |
| Pension plan accruals and contributions | $5,152,123 |
| Other employee benefits | $43,875,018 |
| Payroll taxes | $14,353,030 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,792,496 |
| Fees for services: Accounting | $581,775 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $55,103,621 |
| Advertising and promotion | $2,160,697 |
| Office expenses | $7,181,256 |
| Information technology | $12,056,980 |
| Royalties | $0 |
| Occupancy | $13,202,457 |
| Travel | $4,367,798 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $536,325 |
| Interest | $63,473 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,543,538 |
| Insurance | $3,746,927 |
| All other expenses | $1,264,263 |
| Total functional expenses | $461,658,787 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,701,765 |
| Savings and temporary cash investments | $30,978,684 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $72,995,180 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $157,097 |
| Inventories for sale or use | $12,898,213 |
| Prepaid expenses and deferred charges | $6,528,593 |
| Net Land, buildings, and equipment | $129,257,851 |
| Investments—publicly traded securities | $195,772,412 |
| Investments—other securities | $281,207 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $65,022,702 |
| Total assets | $548,593,704 |
| Accounts payable and accrued expenses | $41,544,554 |
| Grants payable | $0 |
| Deferred revenue | $300,000 |
| Tax-exempt bond liabilities | $125,024,237 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $63,097,317 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $83,672,118 |
| Total liabilities | $313,638,226 |
| Net assets without donor restrictions | $234,955,478 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $548,593,704 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Floyd Healthcare Management Inc has recieved totaling $90,846.
| Awarding Organization | Amount |
|---|---|
Floyd Health Care Foundation Inc Floyd Medical Center Rome, GA PURPOSE: OPERATIONS | $80,456 |
Reach Out And Read Inc Boston, MA PURPOSE: ENCOURAGE READING | $5,195 |
Reach Out And Read Inc Boston, MA PURPOSE: ENCOURAGE READING | $5,195 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Baptist Health Of South Florida Inc Coral Gables, FL | $6,800,060,279 | $1,294,005,107 |
Anc Healthcare Inc Winter Park, FL | $342,432,322 | $16,442,127 |
Wellmont Health System Johnson City, TN | $425,394,041 | $662,198,822 |
Memorial Health Care System Inc Chattanooga, TN | $823,793,355 | $564,430,640 |
Baycare Health Systems Inc Clearwater, FL | $6,226,593,311 | $818,608,318 |
Floyd Healthcare Management Inc Rome, GA | $548,593,704 | $501,302,033 |
Health First Health Plans Inc Rockledge, FL | $174,603,605 | $443,031,050 |
Orlando Health Medical Group Inc Orlando, FL | $56,252,552 | $255,061,880 |
Baptist Health Medical Group Inc Coral Gables, FL | $79,890,511 | $1,053,991,722 |
Southeastern Regional Medical Center Lumberton, NC | $356,266,584 | $285,755,027 |
Baptist Patient Safety System Inc Memphis, TN | $1,379,404,177 | $230,714,665 |
Gulf Health Hospitals Inc Mobile, AL | $222,273,291 | $261,562,236 |