Wellmont Medical Associates Inc
- Assets
- $18.0m
- Revenue
- $129.5m
- Investments
- $0.0
- Employees
- 1,008
- Location
- Johnson City, TN
- Founding
- 04/2011
- Data as of
- 06/2022
- EIN
- 27-0898372
Organization Overview
Wellmont Medical Associates Inc is located in Johnson City, TN. The organization was established in 2011. 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 Medical Associates Inc employed 1,008 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wellmont Medical Associates Inc 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, Wellmont Medical Associates Inc generated $129.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $128.3m during the year ending 06/2022. While expenses have increased by 3.1% 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
2022
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:
WELLMONT MEDICAL ASSOCIATES, INC. (WMA) IS PHYSICIAN-LED AND PROFESSIONALLY MANAGED. FROM THE WMA BOARD OF DIRECTORS AND LEADERSHIP TEAM MEMBERS TO THE PROVIDERS WHO CARE FOR PATIENTS EVERY DAY, WMA'S COMMITMENT TO PHYSICIAN LEADERSHIP IS CLEAR.WMA, A NON-PROFIT HEALTHCARE PROVIDER, DELIVERS EXCEPTIONAL CARE TO PATIENTS IN THE TRI-CITIES REGION OF NORTHEAST TENNESSEE AND SOUTHWEST VIRGINIA. BASED IN KINGSPORT, TENNESSEE, AS WELL AS LOCATIONS EXPANDING FROM SNEEDVILLE, TENNESSEE, TO MARION, VIRGINIA, WMA OFFERS THE LATEST IN TECHNOLOGICAL ADVANCES TO ENSURE PATIENTS RECEIVE SUPERIOR CARE. MEDICAL SERVICES PROVIDED BY WELLMONT MEDICAL ASSOCIATES INCLUDE:- PRIMARY CARE- OB/GYN- SURGERY- ONCOLOGY- OUTPATIENT AND URGENT CARE CENTERS- NEUROLOGY- PULMONOLOGY- SPINE AND REHABILITATION- BEHAVIORAL HEALTH- SLEEP CENTER- OCCUPATIONAL MEDICINE- PHYSICAL THERAPY- PAIN MANAGEMENT- PALLIATIVE MEDICINE- HOSPITALISTSWMA IS DEDICATED TO IMPROVING THE COMMUNITY'S ACCESS TO QUALITY, AFFORDABLE HEALTHCARE, EDUCATING THE REGION'S CAREGIVERS, IMPROVING THE HEALTH STATUS OF THE COMMUNITIES AND CONTRIBUTING TO THE OVERALL QUALITY OF LIFE IN THE AREAS SERVED.IN FISCAL YEAR 2022, WMA HAD 630,936 PATIENT ENCOUNTERS.RECOGNIZING SOME PATIENTS CANNOT AFFORD ESSENTIAL MEDICAL SERVICES, WMA INCURRED A LOSS OF $1,357,781 ATTRIBUTABLE TO THE PROVISION OF CHARITY CARE IN FISCAL YEAR 2022.ADDITIONALLY, WMA PROVIDED CARE TO PEOPLE COVERED BY MEDICARE, MEDICAID, TENNCARE AND CHAMPUS AT A LOSS. DUE TO MANDATED REDUCTIONS IN MEDICARE FUNDING AND DECLINING REIMBURSEMENT FROM TENNCARE, THE SHORTFALL BETWEEN REIMBURSEMENT AND THE COST OF PROVIDING CARE TO THESE PATIENTS TOTALED $24,476,980.IT IS WMA'S OBLIGATION TO SUPPORT THE CAUSES THAT IMPROVE THE QUALITY OF LIFE IN THE REGION. WMA SPONSORED EDUCATIONAL, COMMUNITY-BASED PROGRAMS ON HEALTHY LIFESTYLES, RISK FACTOR IDENTIFICATION AND OPTIONS FOR DIAGNOSIS AND TREATMENT. PROGRAMS INCLUDED:- LECTURES ABOUT ASTHMA TO AREA ELEMENTARY SCHOOLS- PROVIDING A FREE CLINIC IN CHURCH HILL, TENNESSEE- PROVIDING FREE MEDICAL CARE THROUGH THE REMOTE AREA MEDICAL CLINIC- SUPPORTING THE HEALTH WAGON IN WISE, VIRGINIA- TEACHING AT LINCOLN MEMORIAL UNIVERSITY-DEBUSK COLLEGE OF OSTEOPATHIC MEDICINE- TEACHING AT THE UNIVERSITY OF VIRGINIA'S COLLEGE AT WISE- WORKING WITH APPALACHIAN MOUNTAIN PROJECT ACCESS- WORKING WITH FRIENDS IN NEED, A LOCAL NONPROFIT THAT PROVIDES PRIMARY CARE AND DENTAL CARE TO THE UNINSURED AND UNDERINSURED AS WELL AS FULL-TIME COLLEGE STUDENTSWMA ALSO PARTICIPATED IN A NUMBER OF HEALTH FAIRS AND COMMUNITY SCREENINGS. EMPLOYEES GAVE THEIR TIME TO AREA NONPROFIT ORGANIZATIONS, WHICH INCLUDED THE UNITED WAY AND THE EAST TENNESSEE AFFILIATE OF SUSAN G. KOMEN FOR THE CURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Deaton Bh Evp/coo | OfficerTrustee | 0.1 | $0 |
Alan Levine Bh President & Ceo/chair | OfficerTrustee | 0.1 | $0 |
Tim Belisle Bh Evp & Gen Counsel | OfficerTrustee | 0.1 | $0 |
Marvin Eichorn Bh Evp/cao | OfficerTrustee | 0.1 | $0 |
Chase Wilson Bhma Coo/cfo | Officer | 40.5 | $279,940 |
Mark Patterson MD Bh Svp Bhma Pres/ceo | Officer | 54.5 | $716,186 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Locumtenenscom Llc Medical Staffing | 6/29/22 | $721,051 |
Pain Medicine Associates Pc Medical Staffing | 6/29/22 | $470,168 |
Tri-city Pulmonary Medicine Llc Physician Services | 6/29/22 | $377,156 |
Powell River Emergency Group Contract Physician Services | 6/29/22 | $309,606 |
Blue Ridge Radiology Pc Radiology Services | 6/29/22 | $301,438 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $70,448 |
| 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 | $70,448 |
| Total Program Service Revenue | $124,931,584 |
| Investment income | $47,562 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,464 |
| Net Gain/Loss on Asset Sales | -$30,047 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $129,451,708 |
| 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. | $668,576 |
| Compensation of current officers, directors, key employees. | $668,576 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $73,896,806 |
| Pension plan accruals and contributions | $2,148,166 |
| Other employee benefits | $6,185,924 |
| Payroll taxes | $3,779,700 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $65 |
| 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 | $10,627,596 |
| Advertising and promotion | $17,226 |
| Office expenses | $928,743 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,080,060 |
| Travel | $268,279 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $56,942 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,536,731 |
| Insurance | $213,448 |
| All other expenses | $1,035,368 |
| Total functional expenses | $128,327,533 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,040 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,478,571 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $66,170 |
| Inventories for sale or use | $713,872 |
| Prepaid expenses and deferred charges | $5,666,790 |
| Net Land, buildings, and equipment | $6,326,714 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,289,456 |
| Other assets | $1,422,013 |
| Total assets | $18,025,626 |
| Accounts payable and accrued expenses | $13,077,249 |
| 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 | $1,095,229 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,639,513 |
| Total liabilities | $19,811,991 |
| Net assets without donor restrictions | -$1,786,365 |
| 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 | $18,025,626 |