Hr Physician Services
- Assets
- $112.3m
- Revenue
- $55.8m
- Investments
- -$1.6m
- Employees
- 344
- Location
- Huntingdon Valley, PA
- Founding
- 10/1992
- Data as of
- 06/2022
- EIN
- 23-2696460
Organization Overview
Hr Physician Services, operating under the name Hr Medical Hospitalists Huntingdon Valley, is located in Huntingdon Valley, PA. The organization was established in 1992. According to its NTEE Classification (E60) the organization is classified as: Health Support, under the broad grouping of Health Care and related organizations. As of 06/2022, Hr Medical Hospitalists Huntingdon Valley employed 344 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hr Medical Hospitalists Huntingdon Valley 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, Hr Medical Hospitalists Huntingdon Valley generated $55.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $67.3m during the year ending 06/2022. While expenses have increased by 5.4% 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
TO PROVIDE PHYSICIAN HEALTHCARE SERVICES FROM PRIMARY CARE TO EMERGENCY AND DIAGNOSTIC SERVICES, AS WELL AS JOINT VENTURE RELATIONSHIPS IN REGARDS TO ORTHOPEDIC AND SPINE SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE MEDICAL CARE SERVICES BY PHYSICIANS AND SPECIALISTS PRIMARILY IN THE FOLLOWING HEALTH CARE SERVICE AREAS: PRIMARY CARE, EMERGENCY CARE, SURGICAL CARE, OBSTETRICS, GYNECOLOGIC, CARDIOLOGY, PULMONARY, BREAST CANCER, RADIOLOGY, PATHOLOGY, OCCUPATIONAL HEALTH, DIAGNOSTIC AND IN-PATIENT CARE. VARIOUS JOINT VENTURES, AS WELL, IN THE AREAS OF ORTHOPEDIC AND SPINE SURGERY. IN FY2022, HR PHYSICIAN SERVICES SERVED 76,130 PATIENTS IN THE STATES OF PENNSYLVANIA AND NEW JERSEY, GENERATING APPROXIMATELY $39.8M IN NET PATIENT REVENUE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael B Laign Board Member, President/ceo | OfficerTrustee | 8.6 | $161,612 |
Marc Crespi Chairman | OfficerTrustee | 0.5 | $0 |
K Kultar Singh Board Member | Trustee | 0.5 | $0 |
Timothy Abell Board Member | Trustee | 0.5 | $0 |
Christopher Monaghan Board Member | Trustee | 0.5 | $0 |
Joseph Ragg Board Member | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Diagnostic Imaging Professional-radiology | 6/29/17 | $626,376 |
Hrh Management Corporation Office Leasing | 6/29/17 | $525,546 |
Theracom Llc Pharmaceutical Supplier | 6/29/17 | $428,734 |
Mckesson Drug Pharmaceutical Supplier | 6/29/17 | $423,867 |
Cardiology Consultants Of Montgomery Professional-medical | 6/29/17 | $303,922 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $712,220 |
| 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 | $712,220 |
| Total Program Service Revenue | $54,888,106 |
| Investment income | $162,940 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $55,779,551 |
| 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. | $846,616 |
| Compensation of current officers, directors, key employees. | $632,514 |
| Compensation to disqualified persons | $1,291 |
| Other salaries and wages | $38,769,359 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,627,360 |
| Payroll taxes | $2,357,141 |
| 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 | $5,847,998 |
| Advertising and promotion | $200 |
| Office expenses | $1,186,169 |
| Information technology | $1,305,813 |
| Royalties | $0 |
| Occupancy | $2,716,606 |
| Travel | $22,546 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $126,227 |
| Interest | $98,152 |
| Payments to affiliates | $5,368,215 |
| Depreciation, depletion, and amortization | $2,529,957 |
| Insurance | $1,822,499 |
| All other expenses | $276,037 |
| Total functional expenses | $67,293,222 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $525,672 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,326,887 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,088,388 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $785,634 |
| Net Land, buildings, and equipment | $13,089,844 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | -$1,617,210 |
| Investments—program-related | $0 |
| Intangible assets | $694,035 |
| Other assets | $93,410,926 |
| Total assets | $112,304,176 |
| Accounts payable and accrued expenses | $4,777,800 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $517,059 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $26 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $201,731,230 |
| Total liabilities | $207,026,115 |
| Net assets without donor restrictions | -$94,721,939 |
| 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 | $112,304,176 |