Solutionhealth
- Assets
- $61.1m
- Revenue
- $137.0m
- Investments
- $2.5m
- Employees
- 1,059
- Location
- Bedford, NH
- Founding
- 03/2019
- Data as of
- 06/2022
- EIN
- 83-0741190
Organization Overview
Solutionhealth, operating under the name SolutionHealth, is located in Bedford, NH. The organization was established in 2019. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 06/2022, SolutionHealth employed 1,059 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. SolutionHealth 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, SolutionHealth generated $137.0m in total revenue. All expenses for the organization totaled $138.2m during the year ending 06/2022. While expenses have increased by 356.3% per year over the past 4 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 SUPPORT AND FACILITATE AN INTEGRATED COMMUNITY-BASED, REGIONAL HEALTH CARE DELIVERY SYSTEM AMONG THE SOUTHERN NEW HAMPSHIRE AND ELLIOT HOSPITAL SYSTEMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOLUTIONHEALTH ALLOWS THE ELLIOT HEALTH SYSTEM AND THE SOUTHERN NEW HAMPSHIRE HEALTH SYSTEM (THE "HOSPITAL SYSTEMS") TO ESTABLISH A REGIONAL HEALTHCARE ORGANIZATION IN NEW HAMPSHIRE THAT COMBINES RESOURCES AND SKILL-SETS FROM BOTH HOSPITAL SYSTEMS. THIS STRATEGIC COLLABORATION ALLOWS THE TWO HOSPITAL SYSTEMS TO:- SUPPORT AND FACILITATE AN INTEGRATED COMMUNITY-BASED, REGIONAL HEALTH CARE DELIVERY SYSTEM AMONG THE HOSPITAL SYSTEMS;- ALIGN THE MISSIONS AND ECONOMIC INTERESTS OF THE HOSPITAL SYSTEMS TO ENHANCE CARE FOR THE COMMUNITIES SERVED;- ENGAGE IN COLLABORATIVE REGIONAL PLANNING RELATING TO THE DELIVERY OF HEALTH CARE SERVICES IN SOUTHERN NEW HAMPSHIRE;- CREATE A HIGH DEGREE OF INTERDEPENDENCE AND COOPERATION IN A HEALTH CARE NETWORK SO AS TO CONTROL COSTS, INCREASE VALUE, ENSURE QUALITY, AND IMPROVE ACCESS IN THE COMMUNITIES SERVED BY THE HOSPITAL SYSTEMS;- ENHANCE REGIONAL ACCESS FOR THOSE SERVED BY THE HOSPITAL SYSTEMS;- SUPPORT, PROTECT AND ENHANCE THE ABILITY OF THE HOSPITAL SYSTEMS TO PERFORM THEIR EXISTING HISTORIC CHARITABLE MISSION IN THE FUTURE; AND- STRENGTHEN THE CHARITABLE MISSIONS OF THE HOSPITAL SYSTEMS, EMBRACING A COMMITMENT TO SOUTHERN NEW HAMPSHIRE AS A REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sherry Hausmann Pres/ceo, Solutionhealth (end 10/21) | OfficerTrustee | 42 | $1,660,268 |
Kelly Corbi Chief Operations Officer (end 11/21) | Officer | 40 | $1,056,483 |
John E Friberg Chief Legal Officer | Officer | 40 | $778,659 |
Joseph Felkner Executive VP & CFO (end 6/2022) | Officer | 42 | $730,579 |
Bill Lewkowski Chief Information Officer (end 6/22) | 40 | $459,136 | |
Alexander W Petron VP Chief Of Medical Information | 40 | $407,872 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ettain Group Llc Staff Recruiting | 6/29/22 | $5,557,415 |
Collaborative Solutions Llc Cloud Consulting; Hr/finance Solutions | 6/29/22 | $2,457,901 |
Presidio Networked Solution It Service Management | 6/29/22 | $1,174,394 |
Orchestrate Hlthcr Consulting Healthcare It Consulting | 6/29/22 | $761,308 |
Savista Llc Revenue Cycle Management | 6/29/22 | $600,343 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $283,081 |
| 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 | $283,081 |
| Total Program Service Revenue | $136,709,957 |
| Investment income | $0 |
| 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 | $136,993,038 |
| 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. | $4,708,656 |
| Compensation of current officers, directors, key employees. | $470,866 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $67,993,667 |
| Pension plan accruals and contributions | $2,663,802 |
| Other employee benefits | $9,557,597 |
| Payroll taxes | $4,959,312 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $475,501 |
| Fees for services: Accounting | $254,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,047,014 |
| Advertising and promotion | $2,122,263 |
| Office expenses | $4,833,043 |
| Information technology | $18,551,856 |
| Royalties | $0 |
| Occupancy | $1,620,584 |
| Travel | $89,972 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $269,545 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,193,861 |
| Insurance | $323,081 |
| All other expenses | $0 |
| Total functional expenses | $138,186,899 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,509,121 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $238,004 |
| 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 | $7,528,942 |
| Net Land, buildings, and equipment | $10,353,249 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,538,075 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23,908,049 |
| Total assets | $61,075,440 |
| Accounts payable and accrued expenses | $18,014,372 |
| 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 | $35,336,701 |
| Total liabilities | $53,351,073 |
| Net assets without donor restrictions | $7,724,367 |
| 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 | $61,075,440 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Umass Memorial Health Care Inc Worcester, MA | $1,470,153,319 | $457,890,056 |
Bmc Health System Boston, MA | $32,089,723 | $189,200,474 |
Solutionhealth Bedford, NH | $61,075,440 | $136,993,038 |
Milford Regional Physician Group Inc Milford, MA | $55,077,326 | $98,396,869 |
Circle Health Physicians Inc Lowell, MA | $24,693,078 | $78,082,073 |
Northeast Professional Registry Of Nurses Inc Beverly, MA | $69,495,666 | $57,554,389 |
Childrens Hospital Radiology Foundation Inc Boston, MA | $61,711,142 | $41,980,369 |
Health & Welfare Fund Of Intern Tional Union Of Operating Engi Quincy, MA | $26,422,414 | $20,857,874 |
Alliance Health Of Quincy Inc Southborough, MA | $18,309,564 | $19,847,469 |
Broadline Risk Retention Group Inc Colchester, VT | $135,251,113 | $22,474,493 |
Commonwealth Of Massachusetts Nage Health And Welfare Trust Fund Quincy, MA | $20,484,486 | $12,264,688 |
Vna Care Network Inc Worcester, MA | $53,895,058 | $9,740,895 |