Summit Medical Group Inc
- Assets
- $208.9m
- Revenue
- $488.8m
- Investments
- $0.0
- Employees
- 2,782
- Location
- Erlanger, KY
- Founding
- 11/1998
- Data as of
- 12/2023
- EIN
- 61-1300608
Organization Overview
Summit Medical Group Inc, operating under the name St Elizabeth Physicians, is located in Erlanger, KY. The organization was established in 1998. According to its NTEE Classification (E20) the organization is classified as: Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2023, St Elizabeth Physicians employed 2,782 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. St Elizabeth Physicians 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 12/2023, St Elizabeth Physicians generated $488.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $514.2m during the year ending 12/2023. While expenses have increased by 8.3% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SUMMIT MEDICAL GROUP, INC. DBA ST. ELIZABETH PHYSICIANS ("SEP") IS A MULTI-SPECIALTY PHYSICIAN ORGANIZATION, DEDICATED TO PHYSICIAN DIRECTED DELIVERY OF QUALITY MEDICAL CARE IN THE NORTHERN KENTUCKY, SOUTHWESTERN OHIO, AND SOUTHEASTERN INDIANA AREAS. SEP PROVIDES QUALITY HEALTH CARE TO ALL PATIENTS REGARDLESS OF THEIR ABILITY TO PAY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUMMIT MEDICAL GROUP, INC. DBA ST. ELIZABETH PHYSICIANS ("SEP") IS A MULTI-SPECIALTY PHYSICIAN ORGANIZATION DEDICATED TO PHYSICIAN DIRECTED DELIVERY OF QUALITY MEDICAL CARE IN THE NORTHERN KENTUCKY, SOUTHWESTERN OHIO, AND SOUTHEASTERN INDIANA AREAS. ST. ELIZABETH PHYSICIANS AND ASSOCIATES ARE PATIENT ADVOCATES WHO WORK IN PARTNERSHIP WITH ST. ELIZABETH MEDICAL CENTER, INC. DBA ST. ELIZABETH HEALTHCARE ("SEH") AND THE COMMUNITY TO PROVIDE COMPREHENSIVE AND COMPASSIONATE CARE THAT IMPROVES THE HEALTH OF THE PEOPLE WE SERVE THROUGH COST EFFECTIVE MEDICAL CARE. ST. ELIZABETH PHYSICIANS IS DEDICATED TO SERVING NORTHERN KENTUCKY, SOUTHWESTERN OHIO, AND SOUTHEASTERN INDIANA WITH 242 FULL-TIME EQUIVALENT PRIMARY CARE PHYSICIANS, 176 FULL-TIME EQUIVALENT SPECIALTY PHYSICIANS, AND 232 ADVANCED PRACTICE PROVIDERS SPECIALIZING IN CARDIOLOGY, ENDOCRINOLOGY, FAMILY MEDICINE, GASTROENTEROLOGY, GENERAL SURGERY, GYNECOLOGY, INTERNAL MEDICINE, PEDIATRICS, PULMONOLOGY AND RHEUMATOLOGY. ST. ELIZABETH PHYSICIANS HAS 168 OFFICES THAT ARE STRATEGICALLY LOCATED THROUGHOUT BOONE, CAMPBELL, KENTON, GRANT, OWEN, PENDLETON AND MASON COUNTIES IN KENTUCKY AND HAMILTON COUNTY IN OHIO AND DEARBORN COUNTY IN INDIANA. ST. ELIZABETH PHYSICIANS IS A MULTI-SPECIALTY PHYSICIAN GROUP PROVIDING PROFESSIONAL MEDICAL SERVICES TO THE COMMUNITY. TOTAL SURGERIES S: 706,028 TOTAL VISITS: 2,114,835 TOTAL WORK RELATIVE VALUE UNITS: 4,328,013
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Vice Chair/physician/director | OfficerTrustee | 50 | $809,447 |
Name Not Listed Chair/physician/director | OfficerTrustee | 50 | $562,363 |
Name Not Listed President/ceo | OfficerTrustee | 25 | $0 |
Name Not Listed Director | Trustee | 4 | $0 |
Name Not Listed Physician/director | Trustee | 50 | $301,395 |
Name Not Listed Physician/director | Trustee | 50 | $659,286 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dressman Benzinger Lavelle Psc Legal Services | 12/30/23 | $1,716,075 |
Degenhardt Enterprises Llc Cleaning Services | 12/30/23 | $691,178 |
Practicing Excellencecom Inc Consulting Services | 12/30/23 | $689,956 |
Timothy J Kappes Outsourcing | 12/30/23 | $545,969 |
Jackson & Coker Locumtenens Llc Physician Services | 12/30/23 | $544,506 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $130,175 |
| 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 | $130,175 |
| Total Program Service Revenue | $488,090,274 |
| Investment income | $569,668 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $61,314 |
| Net Gain/Loss on Asset Sales | -$40,232 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $488,811,199 |
| 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. | $6,696,237 |
| Compensation of current officers, directors, key employees. | $2,224,599 |
| Compensation to disqualified persons | $1,606,888 |
| Other salaries and wages | $324,183,615 |
| Pension plan accruals and contributions | $15,469,661 |
| Other employee benefits | $31,563,227 |
| Payroll taxes | $16,629,279 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,781,161 |
| Fees for services: Accounting | $2,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $51,960,333 |
| Advertising and promotion | $147,709 |
| Office expenses | $1,749,844 |
| Information technology | $2,220,587 |
| Royalties | $0 |
| Occupancy | $19,450,460 |
| Travel | $585,365 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,891,284 |
| Interest | $4,351 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,266,393 |
| Insurance | $4,938,929 |
| All other expenses | $508,547 |
| Total functional expenses | $514,243,325 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$6,277,861 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,401,532 |
| Loans from Officers, Directors, or Controlling Persons | $2,908,099 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $30,896,546 |
| Inventories for sale or use | $53,949 |
| Prepaid expenses and deferred charges | $2,089,656 |
| Net Land, buildings, and equipment | $11,328,456 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $14,653,539 |
| Other assets | $127,836,691 |
| Total assets | $208,890,607 |
| Accounts payable and accrued expenses | $86,734,496 |
| 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 | $122,581,828 |
| Total liabilities | $209,316,324 |
| Net assets without donor restrictions | -$425,717 |
| 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 | $208,890,607 |