Wellmont Cardiology Services is located in Johnson City, TN. The organization was established in 2013. According to its NTEE Classification (E30) the organization is classified as: Ambulatory & Primary Health Care, under the broad grouping of Health Care and related organizations. As of 06/2023, Wellmont Cardiology Services employed 340 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wellmont Cardiology Services 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, Wellmont Cardiology Services generated $55.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 10.0% each year. All expenses for the organization totaled $55.2m during the year ending 06/2021. While expenses have increased by 3.7% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
HONOR THOSE WE SERVE BY DELIVERING THE BEST POSSIBLE CARE.
Describe the Organization's Program Activity:
CARDIOVASCULAR ASSOCIATES WAS ESTABLISHED IN 1978 TO PROVIDE COMPREHENSIVE CARDIOVASCULAR SERVICES TO THE NORTHEAST TENNESSEE/SOUTHWEST VIRGINIA REGION. IN MAY 2010, WELLMONT CARDIOLOGY SERVICES (WCS) ACQUIRED SUBSTANTIALLY ALL OF THE ASSETS OF CARDIOVASCULAR ASSOCIATES TO BECOME THE REGION'S LARGEST PROVIDER OF COMPREHENSIVE CARDIOVASCULAR SERVICES.THIS PHYSICIAN GROUP PROVIDES TOP-QUALITY CARDIOVASCULAR SERVICES TO NORTHEAST TENNESSEE, SOUTHWEST VIRGINIA, SOUTHEAST KENTUCKY AND NORTHWEST NORTH CAROLINA, AS WELL AS AREAS OF WEST VIRGINIA.WCS STRIVES TO IMPROVE THE CARDIOVASCULAR HEALTH OF THE REGION AND DELIVER HIGH-QUALITY, COST-EFFECTIVE HEART AND VASCULAR CARE WITH COMPASSION.WCS CONSISTS OF 57 CERTIFIED CARDIOLOGISTS AND CARDIOVASCULAR AND THORACIC SURGEONS WHO WORK IN TWELVE COMMUNITY OFFICES AND THE NINE MEMBER HOSPITALS OF WELLMONT HEALTH SYSTEM. WCS DIAGNOSES, TREATS AND MANAGES ALL ASPECTS OF ADULT CARDIOVASCULAR DISEASE. SERVICES PROVIDED INCLUDE GENERAL CARDIOLOGY, PREVENTIVE CARDIOLOGY, ELECTROPHYSIOLOGY, INTERVENTIONAL CARDIOLOGY, VASCULAR MEDICINE, STRUCTURAL HEART DISEASE, HEART FAILURE MANAGEMENT, CARDIOVASCULAR AND THORACIC SURGERY AND ADVANCED CARDIOVASCULAR IMAGING. WCS ALSO SERVES AS A LEADER IN CLINICAL RESEARCH AND TEACHING INSTITUTION THROUGH THE CARDIOVASCULAR UNIVERSITY.FOR FISCAL YEAR 2022, WCS HAD 129,210 OUTPATIENT ENCOUNTERS AND PERFORMED 3,778 SURGICAL PROCEDURES.WCS IS DEDICATED TO IMPROVING THE COMMUNITY'S ACCESS TO QUALITY, AFFORDABLE HEALTHCARE, EDUCATING THE REGION'S CAREGIVERS, IMPROVING THE HEALTH STATUS OF ITS COMMUNITIES, AND CONTRIBUTING TO THE QUALITY OF LIFE IN THE AREAS IT SERVES.CHARITY AND OTHER UNREIMBURSED COSTS:CHARITY CARE: WHILE REIMBURSEMENT FOR HEALTHCARE SERVICES RENDERED IS CRITICAL TO THE OPERATION AND SUSTAINABILITY OF THE ORGANIZATION, WELLMONT CARDIOLOGY SERVICES RECOGNIZES ITS OBLIGATION TO PROVIDE CARE TO INDIVIDUALS WHO CANNOT AFFORD ESSENTIAL MEDICAL SERVICES, INCLUDING EMERGENCY CARE. WCS ACCEPTS ALL PATIENTS REGARDLESS OF THEIR ABILITY TO PAY. A PATIENT IS CLASSIFIED AS A CHARITY PATIENT WHEN THEY MEET THE ESTABLISHED POLICIES OF WCS AND GUIDELINES OUTLINED BY THE FEDERAL GOVERNMENT. HOWEVER, FINANCIAL ASSISTANCE DECISIONS ARE NOT SOLELY BASED ON INCOME. UNIQUE FINANCIAL CIRCUMSTANCES ARE WEIGHED WITH VERIFIED PATIENT ASSETS WHICH CAN DETERMINE FINANCIAL ASSISTANCE ELIGIBILITY. IT IS NOT UNTIL AFTER VERIFICATION OF INCOME AND ASSETS THAT A DECISION REGARDING THE AMOUNT OF FINANCIAL ASSISTANCE CAN BE MADE. IN FISCAL YEAR 2022, WCS INCURRED A LOSS OF $593,993 ATTRIBUTABLE TO THE PROVISION OF CHARITY CARE.TENNCARE/MEDICAID/MEDICARE/CHAMPUS: WCS PROVIDES CARE TO PERSONS COVERED BY GOVERNMENTAL PROGRAMS, SUCH AS TENNCARE (TENNESSEE RESIDENTS), MEDICAID, MEDICARE AND CHAMPUS. WCS INCURRED A LOSS PROVIDING CARE TO THIS POPULATION OF PATIENTS DURING THE YEAR.IT IS WCS'S OBLIGATION TO SUPPORT CAUSES THAT IMPROVE THE QUALITY OF LIFE IN THE REGION. WCS SPONSORED OR PARTICIPATED IN EDUCATIONAL, COMMUNITY-BASED PROGRAMS ON HEALTHY LIFESTYLES, RISK FACTOR IDENTIFICATION, DIAGNOSTIC AND TREATMENT OPTIONS, INCLUDING CONTINUING EDUCATION PROGRAMS FOR PHYSICIANS, NURSES AND ALLIED HEALTH PROFESSIONALS. SUCH INITIATIVES INCLUDED:-ANNUAL CARDIOVASCULAR SUMMIT-DIABETES EXPO-DIABETES SYMPOSIUM-PRESENTATIONS TO MEDICAL SOCIETIES-REGIONAL HEALTHCARE SYMPOSIUMWCS RECEIVED THE HIGHEST 2019 PERFORMANCE ACHIEVEMENT AWARD FROM THE AMERICAN COLLEGE OF CARDIOLOGY, THE NATION'S LARGEST AND MOST AUTHORITATIVE QUALITY IMPROVEMENT REGISTRY WITH 1.5 MILLION PATIENT RECORDS. WCS'S PLATINUM LEVEL AWARD RECOGNIZES ITS QUALITY PERFORMANCE SCORE OF 100% FOR NSTEMI (A TYPE OF HEART ATTACK) AND STEMI (A VERY SERIOUS TYPE OF HEART ATTACK IN WHICH ONE OF THE HEART'S MAJOR ARTERIES IS BLOCKED).
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Stanley Gall Jr MD Vice President | OfficerTrustee | 40 | $635,438 |
Matthew Luff MD End 5922 Secretary | OfficerTrustee | 40 | $631,834 |
Eric Deaton Bh Evp/coo | OfficerTrustee | 0.1 | $0 |
Marvin Eichorn Bh Evp/cao | OfficerTrustee | 0.1 | $0 |
Mark Chang MD President | OfficerTrustee | 40 | $666,510 |
Thomas Helton MD Start 11322 Physician | Trustee | 40 | $268,879 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Precision Nuclear Llc Imaging Services | 6/29/22 | $213,175 |
Holston Medical Group Professional Svcs | 6/29/22 | $459,300 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $5,425 |
Investment income | $1,704 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $4,653 |
Net Gain/Loss on Asset Sales | $5,000 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $55,508,640 |
Statement of Expenses | |
---|---|
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. | $6,426,985 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $33,683,898 |
Pension plan accruals and contributions | $1,002,747 |
Other employee benefits | $2,078,801 |
Payroll taxes | $1,690,786 |
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 | $2,907,920 |
Advertising and promotion | $0 |
Office expenses | $322,841 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $2,379,203 |
Travel | $330,668 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $22,446 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $628,060 |
Insurance | $106,125 |
All other expenses | $0 |
Total functional expenses | $55,155,179 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,176 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $1,057,468 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $5,533 |
Inventories for sale or use | $29,222 |
Prepaid expenses and deferred charges | $291,922 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $423,677 |
Other assets | $2,597,200 |
Total assets | $7,268,976 |
Accounts payable and accrued expenses | $8,747,449 |
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 | $1,910,101 |
Total liabilities | $10,657,550 |
Net assets without donor restrictions | $0 |
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 |
Total liabilities and net assets/fund balances | -$3,388,574 |