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 06/2021, Fkareading Health Physician Network employed 1,967 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 06/2021, Fkareading Health Physician Network generated $250.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.6% each year . All expenses for the organization totaled $473.3m during the year ending 06/2021. While expenses have increased by 18.6% 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
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 62 LOCATIONS IN BERKS, CHESTER, MONTGOMERY AND PHILADELPHIA COUNTIES. DURING FISCAL YEAR 2021, TOWER HEALTH MEDICAL GROUP'S PRIMARY CARE PROGRAM PROVIDED CARE THROUGH 429,153 PATIENT VISITS TO PATIENTS OF ALL AGES WITH A FOCUS ON WELLNESS AND DISEASE MANAGEMENT. ALL LOCATIONS ACCEPT BOTH MEDICARE AND MEDICAID PATIENTS.
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 2021, TOWER HEALTH MEDICAL GROUP'S ACUTE HOSPITALIST PROGRAM PROVIDED EFFICIENT, HIGH- QUALITY, EVIDENCED-BASED CARE THROUGH 282,105 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 112,064 INPATIENT AND OUTPATIENT VISITS IN FY2021. THIS INCLUDES PRIMARILY PATIENTS REQUIRING SURGICAL OR PROCEDURAL TREATMENT. THIS PROGRAM ACCEPTS 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 17,891,412 36,710,560 ANESTHESIA 15,231,558 30,203,704 BEHAVIORAL HEALTH SCIENCES 4,146,127 12,099,637 CARDIOLOGY 15,959,825 34,348,139 EMERGENCY 20,011,708 35,143,740 NEUROSCIENCES 8,241,945 25,763,506 WOMEN'S HEALTHCARE 22,125,582 35,312,121 ONCOLOGY 2,253,171 7,306,947 ORTHOPEDICS 2,898,163 6,004,100 PATHOLOGY 3,659,295 5,108,686 PEDIATRICS 7,565,148 13,391,028 RADIOLOGY 15,723,318 20,093,244 SUPPORT SERVICES 13,353,973 21,929,089 TRAUMA 1,993,844 7,034,225 TRANSPLANT 1,933,665 6,915,662 GASTRO 712,338 1,944,831 WHEN THE COVID PANDEMIC HIT OUR COMMUNITY IN MARCH 2020, IT CAUSED MANY CRITICAL NEEDS FOR OUR ORGANIZATION AND COMMUNITY. A STRONG EMPHASIS WAS PLACED ON SAFETY FOR OUR PATIENTS AND STAFF. TOWER HEALTH MEDICAL GROUP(THMG) DEFERRED AND RESUMED PATIENT APPOINTMENTS IN A PHASED IN APPROACH: PHASE 1 INVOLVED IMPLEMENTING SAFE ENVIRONMENTAL AND PERSONAL PROTECTIVE EQUIPMENT PROTOCOLS WITHIN OUR PRACTICE SETTINGS AS GUIDED BY THE CDC, LOCAL REGULATORY HEALTH AGENCIES AND ORGANIZATIONAL POLICY. PATIENT COVID SCREENING PRACTICES WERE IMPLEMENTED PRIOR TO VISITS WITH PROVIDERS. ANY PATIENTS WITH POSITIVE COVID SYMPTOM SCREEN RESULTS WERE REFERRED TO OUR COVID TESTING SITES, URGENT CARE LOCATIONS AND/OR TRIAGE NURSING HOTLINE FOR HOME MANAGEMENT AND MONITORING SUPPORT. PHASE 2 INVOLVED A TEMPORARY DEFERMENT AND RESCHEDULING OF PREVENTIVE, ANNUAL, OR WELLNESS VISITS IN ORDER TO MAINTAIN SAFE DISTANCING WITHIN OUR CLINICAL ENVIRONMENTS AND TO REDUCE COVID EXPOSURE FOR OUR PATIENTS AND EMPLOYEES. PATIENTS WITH NEGATIVE COVID SCREEN RESULTS WERE SEEN IN THE PRACTICES WITH THE ENFORCEMENT OF LIMITED VISITOR RESTRICTIONS. THOSE PATIENTS CONSIDERED STABLE BUT PRESENTING WITH POSITIVE COVID SCREENING RESULTS WERE OFFERED BOTH TELEPHONIC OR TELEMEDICINE VIDEO VISITS WITH OUR PROVIDERS FOR MEETING THEIR REQUESTED NEEDS FOR TIMELY MEDICAL ATTENTION. PHASE 3 INVOLVED THE RESUMPTION OF PREVENTIVE, ANNUAL OR WELLNESS VISITS BEING SCHEDULED WITH PATIENTS SCREENING NEGATIVE FOR COVID SYMPTOMS. SPECIFIC APPOINTMENT GUIDELINES FOR MANAGING PATIENT WORKFLOWS AND OUR CARE ENVIRONMENT ARE BEING FOLLOWED ACCORDING TO RECOMMENDATIONS BY THE CENTERS FOR DISEASE CONTROL AND PREVENTION. OPTIMIZATION OF TELEMEDICINE VISITS (FACE TO FACE VIDEO) RESULTED IN GREATER PATIENT ACCESS TO AMBULATORY PROVIDER CONSULTATION AND TREATMENT SERVICES. THE MAJORITY OF OUR PRACTICES HAVE RESUMED PRE-COVID PATIENT VISIT VOLUMES. THE PANDEMIC CAUSED A DECREASE IN PATIENT VISITS OF APPROXIMATELY 35% IN THE LAST THREE AND A HALF MONTHS OF FY 2020. WHILE THE MOST DRAMATIC IMPACT OF THE PANDEMIC WAS FELT BY THE ORGANIZATION FROM MARCH 2020 THROUGH JUNE 2020, THE ORGANIZATION CONTINUED TO EXPERIENCE ITS EFFECTS INTO THE EARLY PART OF FY 2021. VOLUMES FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2020, WERE STILL LESS THAN PRE-PANDEMIC VOLUMES BY APPROXIMATELY 8%. BY OCTOBER 2020, THE ORGANIZATION BELIEVES ITS VOLUMES WERE RESTORED TO PRE-PANDEMIC LEVELS. THROUGHOUT FY21, THE MEDICAL GROUP CONTINUED TO EXPERIENCE CHALLENGES STILL RELATED TO THE PANDEMIC IN THE FOLLOWING AREAS: (A)PERMANENT CHANGES IN THE REQUIREMENTS FOR ADDITIONAL PROTECTIVE EQUIPMENT, SANITATION OF FACILITIES AND SOCIAL DISTANCING WHICH ADDED OPERATIONAL COSTS. (B)TELEMEDICINE VISITS CONTINUE BUT HAVE NOT INCREASED SINCE THE MOST INTENSE PERIOD OF THE PANDEMIC. HOWEVER, THE ORGANIZATION CONTINUES TO LOOK FOR WAYS TO EXPAND THIS SERVICE AS IT CONTINUES TO GAIN MOMENTUM FROM TIME TO TIME. (C)AS PATIENTS LIMITED TREATMENT FOR CHRONIC CONDITIONS, WHEN PATIENTS DO PRESENT, THEY TEND TO BE SICKER AND/OR THEIR CONDITIONS HAVE REGRESSED WHICH REQUIRES INCREASED CARE AND COST. (D)THE ORGANIZATION HAS HAD TO CONTINUE TO RESPOND TO THE SURGES THAT HAVE OCCURRED THROUGHOUT FY21 WHICH PUTS GREATER DEMAND ON STAFFING AND LESS RELIABILITY ON CONSISTENT VOLUMES. (E)SOME ROUTINE/ELECTIVE SURGERIES HAVE DECREASED TO CREATE ACCESS FOR THOSE PATIENTS WITH ACUTE CONDITIONS AND NEEDS. ONE OF THE MOST SIGNIFICANT CHALLENGES THROUGHOUT FY21 HAS BEEN THE CONTINUED DECREASE IN AVAILABLE STAFFING. THIS HAS IMPACTED ALL AREAS OF THE ORGANIZATION INCLUDING PROVIDERS OF CARE AS INDIVIDUALS SEEK ALTERNATIVE FORMS OF EMPLOYMENT OR ARE UNAVAILABLE DUE TO CONTRACTING THE COVID VIRUS. THE COMPETITIVE LANDSCAPE HAS CHANGED AS THE GREATER DEMAND OF STAFF HAS CREATED SALARY CHALLENGES, ESCALATED COSTS AND REQUIRING THE ORGANIZATION IN MANY CASES TO FIND RESOURCES OUTSIDE OF TYPICAL EMPLOYMENT AND AT GREAT EXPENSE. THIS LACK OF RESOURCES HAS NEGATIVELY IMPACTED PATIENT ACCESS AND THE ORGANIZATION CONTINUES TO FIND CREATIVE WAYS TO PROVIDE CARE WITH LESS RESOURCES AND BALANCING COSTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Thomas G Psarros MD Physician | 50 | $1,640,124 | |
John A Braca III MD Physician | 50 | $1,087,562 | |
Shahin Manoochehri Physician | 50 | $1,050,852 | |
Herman C Lawson MD Physician | 50 | $942,100 | |
Eric E Elgin MD Physician | 50 | $899,076 | |
Suzanne Wenderoth SVP Chief Cl | Officer | 50 | $511,810 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Locumsmart Llc Med Staff Serv | 6/29/21 | $6,328,330 |
Univ Of Penn Medical Group Med Staff Serv | 6/29/21 | $3,414,818 |
Weatherby Locums Inc Med Staff Serv | 6/29/21 | $1,488,120 |
Pottstown Medical Specialists Med Staff Serv | 6/29/21 | $816,664 |
Vista Staffing Solutions Inc Med Staff Serv | 6/29/21 | $2,283,336 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $5,062,600 |
All other contributions, gifts, grants, and similar amounts not included above | $170,178 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $5,232,778 |
Total Program Service Revenue | $240,962,239 |
Investment income | $40,086 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $5,919 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $250,280,722 |
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. | $1,671,678 |
Compensation of current officers, directors, key employees. | $1,671,678 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $314,056,409 |
Pension plan accruals and contributions | $8,982,782 |
Other employee benefits | $21,268,715 |
Payroll taxes | $17,290,349 |
Fees for services: Management | -$8 |
Fees for services: Legal | $940 |
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 | $22,263,113 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $18,059,339 |
Travel | $71,378 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $168,254 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $2,207,251 |
Insurance | $11,418,600 |
All other expenses | $0 |
Total functional expenses | $473,263,446 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $23,696 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $26,660,612 |
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 | $1,512,108 |
Net Land, buildings, and equipment | $18,652,351 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $41,940,508 |
Total assets | $88,789,275 |
Accounts payable and accrued expenses | $64,791,442 |
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 | $55,275,203 |
Total liabilities | $120,066,645 |
Net assets without donor restrictions | -$31,277,370 |
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 | $88,789,275 |
Organization Name | Assets | Revenue |
---|---|---|
Healthwell Foundation Germantown, MD | $529,554,117 | $554,261,279 |
Tower Health Medical Group Reading, PA | $88,789,275 | $250,280,722 |
1199seiu United Healthcare Workers East New York, NY | $166,401,091 | $190,953,370 |
Uch Legacy Funding Corporation Bel Air, MD | $0 | $3,147,419 |
Temple Physicians Inc Philadelphia, PA | $32,827,078 | $80,029,343 |
Finger Lakes Performing Provider System Inc Rochester, NY | $41,997,931 | $67,997,644 |
Depaul Adult Care Communties Inc Rochester, NY | $12,844,666 | $48,377,747 |
Federation Of Organizations For The New York State Mentally Disabled West Babylon, NY | $34,800,632 | $51,638,775 |
Fidelity Health Care Inc Dayton, OH | $33,674,939 | $52,779,040 |
Long Island Jewish Medical Center At Home Pharmacy Inc Westbury, NY | $5,530,043 | $43,997,615 |
Dimensions Healthcare Associates Upper Marlboro, MD | $2,057,898 | $28,839,098 |
Western New York Independent Living Inc Buffalo, NY | $29,215,885 | $46,881,599 |