Tower Health Medical Group
- Assets
- $76.6m
- Revenue
- $233.0m
- Investments
- $0.0
- Employees
- 1,868
- Location
- Reading, PA
- Founding
- 04/1984
- Data as of
- 06/2022
- EIN
- 23-2266054
Organization Overview
Tower Health Medical Group, operating under the name Fkareading Health Physician Network, is located in Reading, PA. The organization was established in 1984. According to its NTEE Classification (E99) the organization is classified as: Health Care N.E.C., under the broad grouping of Health Care and related organizations. As of 06/2022, Fkareading Health Physician Network employed 1,868 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fkareading Health Physician Network is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Fkareading Health Physician Network generated $233.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $425.6m during the year ending 06/2022. While expenses have increased by 14.0% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE REGION'S PREMIER PHYSICIAN-DIRECTED, MULTISPECIALTY GROUP OF HEALTH CARE PROFESSIONALS WHO PARTICIPATE WITH TOWER HEALTH IN MANAGING POPULATION HEALTH AND PROMOTING WELLNESS, AND DELIVERING HEALTH CARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR PRIMARY CARE PROGRAM IS COMPRISED OF INTERNAL MEDICINE AND FAMILY PRACTICE PHYSICIANS, PHYSICIAN ASSISTANTS, AND NURSE PRACTITIONERS THROUGHOUT 61 LOCATIONS IN BERKS, CHESTER, MONTGOMERY AND PHILADELPHIA COUNTIES. DURING FISCAL YEAR 2022, TOWER HEALTH MEDICAL GROUP'S PRIMARY CARE PROGRAM PROVIDED CARE THROUGH 401,173 PATIENT VISITS TO PATIENTS OF ALL AGES WITH A FOCUS ON WELLNESS AND DISEASE MANAGEMENT. ALL LOCATIONS ACCEPT BOTH MEDICARE AND MEDICAID PATIENTS.
EXPENSES INCURRED IN PROVIDING VARIOUS OTHER HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN, OR ABILITY TO PAY. OTHER PHYSICIAN SERVICES INCLUDE: REVENUE EXPENSE AMBULATORY SPECIALTIES 15,440,162 29,966,426 ANESTHESIA 14,349,363 29,120,131 BEHAVIORAL HEALTH SCIENCES 4,642,958 10,488,253 CARDIOLOGY 16,346,474 30,769,051 EMERGENCY 21,301,828 33,259,498 NEUROSCIENCES 9,024,261 24,906,353 WOMEN'S HEALTHCARE 20,959,555 33,457,722 ONCOLOGY 575,352 1,947,528 ORTHOPEDICS 2,466,464 4,304,165 PATHOLOGY 3,869,228 4,964,649 PEDIATRICS 8,851,110 13,396,853 RADIOLOGY 15,156,271 18,036,665 SUPPORT SERVICES 5,618,952 22,384,884 TRAUMA 2,373,934 7,658,277 TRANSPLANT 361,007 2,762,267 GASTRO 23,957 32,571 OTHER 1,038 19,433
OUR ACUTE HOSPITALIST PROGRAM IS COMPRISED LARGELY OF INTERNAL MEDICINE PHYSICIANS ALONG WITH PHYSICIAN ASSISTANTS AND NURSE PRACTITIONERS AT MULTIPLE TOWER HEALTH HOSPITAL LOCATIONS. DURING FISCAL YEAR 2022, TOWER HEALTH MEDICAL GROUP'S ACUTE HOSPITALIST PROGRAM PROVIDED EFFICIENT, HIGH- QUALITY, EVIDENCED-BASED CARE THROUGH 273,018 VISITS TO OUR SYSTEM'S HOSPITALIZED PATIENTS. THIS PROGRAM ACCEPTS BOTH MEDICARE AND MEDICAID PATIENTS.
THE SURGICAL SPECIALTIES AT READING HOSPITAL PROVIDED SURGICAL AND NON- SURGICAL CARE FOR 99,930 INPATIENT AND OUTPATIENT VISITS IN FY2022. THIS INCLUDES PRIMARILY PATIENTS REQUIRING SURGICAL OR PROCEDURAL TREATMENT. THIS PROGRAM ACCEPTS BOTH MEDICARE AND MEDICAID PATIENTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clint Matthews Pres & CEO T | 2 | $0 | |
Thomas G Psarros MD Physician | 50 | $1,629,514 | |
John A Braca III MD Physician | 50 | $1,093,693 | |
Shahin Manoochehri MD Physician | 50 | $1,090,549 | |
Gary F Conner Treas. Term | 2 | $0 | |
Brandon Root MD Physician | 50 | $997,532 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Locumsmart Llc Med Staff Serv | 6/29/22 | $6,960,797 |
Univ Of Penn Medical Group Med Staff Serv | 6/29/22 | $2,499,676 |
Pennsylvania Vascular Assoc Pc Med Staff Serv | 6/29/22 | $500,000 |
Sotomayor Medical Practice Med Staff Serv | 6/29/22 | $282,726 |
Elmer Cupino Med Staff Serv | 6/29/22 | $267,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $116,872 |
| Government grants | $121,575 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $238,447 |
| Total Program Service Revenue | $225,568,340 |
| Investment income | $32,639 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $93,858 |
| Net Gain/Loss on Asset Sales | $264,962 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $233,011,515 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,120,651 |
| Compensation of current officers, directors, key employees. | $1,120,651 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $280,979,202 |
| Pension plan accruals and contributions | $6,191,530 |
| Other employee benefits | $19,526,726 |
| Payroll taxes | $14,599,858 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $18,929,265 |
| Advertising and promotion | $247,864 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,845,003 |
| Travel | $56,907 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $99,218 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,057,530 |
| Insurance | $9,508,186 |
| All other expenses | $3,730,258 |
| Total functional expenses | $425,597,979 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,989 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,884,549 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,332,802 |
| Net Land, buildings, and equipment | $16,404,372 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $37,949,448 |
| Total assets | $76,584,160 |
| Accounts payable and accrued expenses | $63,793,962 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $45,928,650 |
| Total liabilities | $109,722,612 |
| Net assets without donor restrictions | -$33,138,452 |
| 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 | $76,584,160 |