Cobre Valley Regional Medical Center is located in Globe, AZ. The organization was established in 1993. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2022, Cobre Valley Regional Medical Center employed 578 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cobre Valley Regional Medical Center 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 12/2022, Cobre Valley Regional Medical Center generated $95.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $83.0m during the year ending 12/2022. While expenses have increased by 9.0% per year over the past 8 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
THE MISSION OF OUR HOSPITAL IS TO DEVELOP AND MAINTAIN A LOCAL HEALTH CARE DELIVERY SYSTEM THAT SERVES THE REGION WITH QUALITY, EFFICIENCY, AND COMPASSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOR THE YEAR ENDED 12/31/2022, COBRE VALLEY REGIONAL MEDICAL CENTER (CVRMC) CARRIED OUT 162,605 PATIENT VISITS, COMPRISED AS: 81,543 HOSPITAL OUTPATIENT, 14,704 OUTPATIENT EMERGENCY VISITS, 64,650 CLINIC OUTPATIENT, AND 1,708 HOSPITAL INPATIENT. ALONG WITH PROVIDING ACUTE HEALTHCARE SERVICES TO THE COMMUNITY AS A NON-PROFIT ENTITY, CVRMC IS COMMITTED TO THE MANY COMMUNITIES WE SERVE. SEVERAL MEMBERS OF OUR ADMINISTRATION, DIRECTORS, MANAGERS, AND STAFF SERVE ON VARIOUS COMMUNITY ASSOCIATIONS INCLUDING: CHAMBERS OF COMMERCE, ROTARY, WORK FORCE DEVELOPMENT, ECONOMIC DEVELOPMENT, CANCER AWARENESS COMMITTEES, DIABETES EDUCATION, GRIEF SUPPORT TEAMS, SCHOLARSHIP COMMITTEES, AQUATIC CENTER, HOUSING COMMITTEES, COMMUNITY DEVELOPMENT, AND YOUTH ATHLETIC PROGRAMS, TO NAME JUST A FEW. CVRMC HAS ITS FINGER ON THE PULSE OF THE COMMUNITY, PROVIDES CHARITABLE CARE WITH PURPOSE, AND OFFERS EDUCATIONAL SERVICES AND PROGRAMS FOR THE GOOD OF OUR PUBLIC. THE COMMUNITY HEALTH NEED ASSESSMENT (CHNA) WAS MADE PUBLICLY AVAILABLE IN 2020. AS WE EVALUATE THE RECENTLY COMPLETED CHNA AND WORK OUR COMMUNITY HEALTH IMPLEMENTATION PLAN (CHIP), CVRMC WILL CONTINUE TO ACTIVELY WORK WITH OTHER HEALTHCARE ORGANIZATIONS, BE INVOLVED WITH STATE AND FEDERAL LEGISLATION INITIATIVES, AND CONTINUE TO CONNECT TO THE COMMUNITIES WE SERVE TO ADDRESS HEALTH PRIORITIES. CHNA IMPLEMENTATION PROGRESS THROUGH 2022 INCLUDES:1.PRIORITY 1: IMMEDIATE CARE SERVICES LAND HAS BEEN PURCHASED WITH FRONTAGE ON THE HIGHWAY 60 CORRIDOR AND BUILDING PLANS ARE BEING DEVELOPED WITH EXPECTATION OF A FULLY EXECUTED WALK-IN SERVICE IN PLACE BY THE END OF 20242.PRIORITY 2: BUILD A WALKING PATH IN COLLABORATION WITH BHP, THIS PROJECT WAS COMPLETED WITH A GRAND OPENING CELEBRATION IN 2021, WITH THE HOSPITAL INVESTING IN THE ONGOING MAINTENANCE AND SUPPORT OF THE CONTINUING BEAUTIFICATION OF THE WALKING PATH.3.PRIORITY 3: INCREASE ACCESS TO PREVENTIVE SERVICES CVRMC CONITNUES THE BUILD OUT OF THE POPULATION HEALTH MODULE OF ITS MEDITECH EHR WHICH WILL BE THE FOUNDATION OF THE TECHNOLOGY NEEDED TO MANAGE AND TRACK THE PREVENTATIVE SERVICES OFFERED TO PATIENTS.4.PRIORITY 4: INCREASE ACCESS TO AGING IN PLACE SERVICES FOR OUR AGING POPULATION CVRMC COUNTINUES TO DEVELOP ITS COLLABORATION WITH THE VARIOUS PROVIDERS AND AGENCIES FOCUSED ON SERVICES TO THE ELDERLY. ALSO, SPECIALTY SERVICE LINES OF CARDIOLOGY AND ORTHOPEDICS HAVE ENHANCED SERIVCES FOR HEALTH CONDITIONS PROMINENT IN AN AGING POPULATION. CONTINUED AWARENESS TRAINING HAS BEEN PROVIDED TO HOSPITAL LEADERSHIP AND STAFF ON COMMUNICATING AVAILABLE SERVICES TO THE COMMUNITY, PARTICULARLY THE SENIOR POPULATION. AS WE CELEBRATE OVER 100 YEARS OF SERVICE TO THE GLOBE-MIAMI AND SURROUNDING COMMUNITIES, CVRMC CONTINUES TO EVOLVE WITH THE CHANGING NEEDS OF OUR POPULATION BASE.HEALTHCARE IS EVER MOVING AND ADVANCING AND CVRMC IS PROGRESSING WITH THE DEMANDS OF OUR TARGET MARKETS. THROUGH THE DURATION OF THE PANDEMIC WHICH CONTINUED THROUGH 2022, CVRMC PROVIDED A COMMUNITY HEALTH LEADERSHIP ROLE TO SUPPORT THE COMMUNITY EFFORTS AND RESPONSE TO THE PANDEMIC. THE INTENSE FOCUS REQUIRED OF OPERATIONS AND RESOURCES TO PROVIDE AND MAINTAIN THE COMMUNITY HEALTH PANDEMIC RESPONSE LEADERSHIP HAD SEVERE NEGATIVE IMPACT ON CVRMCS ABILITY TO ADVANCE THE PRIORITIES OF THE CHNA IMPLEMENTATION PLAN. HOWEVER, THROUIGH THE CVRMCS PANDEMIC RESPONOSE, OUR ORGANIZATION WAS ONCE AGAIN PROFOUNCLY REMINDED THAT THE CONTINUED ACCOMPLISHMENTS WE HAVE MADE ARE A DIRECT RESULT OF A DEDICATED AND COMPASSIONATE WORKFORCE, A STEADFAST BOARD OF DIRECTORS, AND STRONG SUPPORTING MANAGEMENT TEAM WHICH IS FOCUSED ON ONE MISSION THE MISSION OF HEALTH WITH HIGH QUALITY, EFFICIENT AND COMPASSIONATE CARE.CVRMCS STRATEGIC PLAN FOCUS CONTINUES TO BE THE FOLLOWING AREAS:THE PATIENT EXPERIENCE (QUALITY AND CUSTOMER SERVICE)PEOPLEGROWTHCOMMUNITYFINANCIAL STEWARDSHIPOUR COMMUNITIES DESERVE ACCOUNTABILITY AND COMPASSION. WE STRIVE TO RESPECT AND COLLABORATE WITH ALL WHO SURROUND US. WE HAVE AN EARNEST RESPONSIBILITY TO RECOGNIZE THE NEEDS OF OUR POPULATION AND TO RESPOND TO THE HEALTH PRIORITIES FACING OUR POPULATION. CVRMC IS COMMITTED TO OUR COMMUNITIES WITH AN UNWAVERING DEDICATED SPIRIT.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Scott Croft Physician | 40 | $553,551 | |
Winlove Suasin Physician | 40 | $494,511 | |
Patrick Law Physician | 40 | $493,574 | |
Peter Seipel Physician | 40 | $452,322 | |
Natasha Patel Physician | 40 | $436,391 | |
Jody Daggett Ex-Officio | Trustee | 1 | $35,350 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Rural Physicians Management Co Llc Hospitalist Services | 12/30/22 | $1,568,366 |
Trusted Health Nursing Contract Labor | 12/30/22 | $742,472 |
Valley Anesthesia Consultants Anesthesia Services | 12/30/22 | $641,355 |
Rn Network Nursing Contract Labor | 12/30/22 | $449,961 |
Cardiovascular Associates Of Arizona Cardiology Services | 12/30/22 | $675,186 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $3,149,004 |
All other contributions, gifts, grants, and similar amounts not included above | $75,000 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $3,224,004 |
Total Program Service Revenue | $90,768,825 |
Investment income | $401,226 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $87,608 |
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 | $94,951,858 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $1,913,000 |
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. | $43,795 |
Compensation of current officers, directors, key employees. | $19,191 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $30,228,224 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $3,618,472 |
Payroll taxes | $1,932,754 |
Fees for services: Management | $1,568,366 |
Fees for services: Legal | $73,711 |
Fees for services: Accounting | $41,115 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $13,695,101 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $857,286 |
Travel | $195,480 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $1,614,346 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $4,745,431 |
Insurance | $929,141 |
All other expenses | $0 |
Total functional expenses | $82,964,708 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $12,462,024 |
Savings and temporary cash investments | $75,262,622 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $5,948,614 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $523,499 |
Inventories for sale or use | $2,519,834 |
Prepaid expenses and deferred charges | $1,155,347 |
Net Land, buildings, and equipment | $36,029,047 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $2,640,724 |
Total assets | $136,541,711 |
Accounts payable and accrued expenses | $32,235,281 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $28,193,080 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $1,852,127 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $62,280,488 |
Net assets without donor restrictions | $73,433,162 |
Net assets with donor restrictions | $828,061 |
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 | $136,541,711 |