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← WELLMONT CARDIOLOGY SERVICES

Form 990 for tax year 2022

Filed by WELLMONT CARDIOLOGY SERVICES.

Totals

Total revenue
$74,431,003
Total expenses
$75,426,297
Contributions and grants received
$2,210
Grants paid
$0
Program service revenue
$74,331,948
Investment income
$6,396
Other revenue
$90,449
Total assets, end of year
$10,322,339
Total liabilities, end of year
$14,232,461
Net assets or fund balances, end of year
-$3,910,122
Program services expenses (Part IX)
$71,176,759
Management and general expenses
$4,249,538
Fundraising expenses
$0
Program service expenses (Part III)
$71,176,759

Program services were 94.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $2,110

  • 1f · All other contributions, gifts and grants

    $100

  • 2a · Program service revenue: Hospital Support

    total $34,777,131 · related or exempt $34,777,131

  • 2b · Program service revenue: Net Patient Revenue

    total $34,345,606 · related or exempt $34,345,606

  • 2c · Program service revenue: Clinical Services

    total $3,469,522 · related or exempt $3,469,522

  • 2d · Program service revenue: Research Revenue

    total $1,617,648 · excluded $1,617,648

  • 2e · Program service revenue: Medical Education Training

    total $61,705 · related or exempt $61,705

  • 2f · All other program service revenue

    total $60,336 · related or exempt $60,336

  • 3 · Investment income

    total $5,106 · excluded $5,106

  • 6a · Gross rents

    real property $4,386

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $4,386

  • 6d · Net rental income or loss

    total $4,386 · excluded $4,386

  • 7a · Gross sales of assets other than inventory

    other assets $1,290

  • 7b · Less cost or other basis and sales expenses

    other assets $0

  • 7c · Gain or loss

    other assets $1,290

  • 7d · Net gain or loss

    total $1,290 · related or exempt $1,290

  • 11a · Other revenue: Medical Director Fees

    total $49,875 · excluded $49,875

  • 11b · Other revenue: Medical Records

    total $9,079 · excluded $9,079

  • 11c · Other revenue: Vending Commission

    total $2,608 · excluded $2,608

  • 11d · All other revenue

    total $24,501 · excluded $24,501

  • 11e · Other revenue, total

    $86,063

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $2,598,723 · management and general $2,598,723

  • 7 · Other salaries and wages

    total $50,435,747 · program services $49,255,183 · management and general $1,180,564

  • 8 · Pension plan contributions

    total $1,507,301 · program services $1,471,956 · management and general $35,345

  • 9 · Other employee benefits

    total $3,347,964 · program services $3,331,543 · management and general $16,421

  • 10 · Payroll taxes

    total $2,094,412 · program services $2,028,192 · management and general $66,220

  • 11b · Fees: legal

    total $6,028 · management and general $6,028

  • 11g · Fees: other

    total $1,956,501 · program services $1,948,501 · management and general $8,000

  • 12 · Advertising and promotion

    total $98,097 · program services $92,597 · management and general $5,500

  • 13 · Office expenses

    total $362,005 · program services $185,536 · management and general $176,469

  • 16 · Occupancy

    total $2,512,603 · program services $2,509,098 · management and general $3,505

  • 17 · Travel

    total $436,554 · program services $434,692 · management and general $1,862

  • 22 · Depreciation, depletion and amortization

    total $1,450,258 · program services $1,441,396 · management and general $8,862

  • 23 · Insurance

    total -$3,984 · program services -$3,984

  • 24a · Other expenses: Support Services

    total $6,533,578 · program services $6,533,578

  • 24b · Other expenses: Maintenance

    total $1,304,930 · program services $1,276,449 · management and general $28,481

  • 24c · Other expenses: Medical Supplies

    total $428,430 · program services $428,426 · management and general $4

  • 24e · All other expenses

    total $357,150 · program services $243,596 · management and general $113,554

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,596 · end of year $2,456

  • 4 · Accounts receivable

    beginning of year $1,954,902 · end of year $2,029,056

  • 7 · Other notes and loans receivable

    beginning of year $96,106 · end of year $156,606

  • 9 · Prepaid expenses and deferred charges

    beginning of year $398,871 · end of year $2,187,169

  • 10a · Land, buildings and equipment: cost or other basis

    $6,924,778

  • 10b · Land, buildings and equipment: accumulated depreciation

    $5,451,174

  • 10c · Land, buildings and equipment, net

    beginning of year $2,670,756 · end of year $1,473,604

  • 14 · Intangible assets

    beginning of year $423,677 · end of year $423,677

  • 15 · Other assets

    beginning of year $145,628 · end of year $4,049,771

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,423,210 · end of year $12,013,782

  • 25 · Other liabilities

    beginning of year $528,159 · end of year $2,218,679

  • 27 · Net assets without donor restrictions

    beginning of year -$6,259,833 · end of year -$3,910,122

Mission and programs · 2022

Mission

Honor those we serve by delivering the best possible care.Ballad Health is dedicated to improving the health of the 29-county Appalachian Highlands region.

Activities or mission (Part I)

Honor those we serve by delivering the best possible care.

  • 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 55 certified cardiologists and cardiovascular and thoracic surgeons who work in thirteen community offices and the seven 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 2023, WCS had 160,666 outpatient encounters and performed 4,370 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 2023, WCS incurred a loss of $692,451 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 of $10,908,321 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-Presentations to medical societiesWCS 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).

    Expenses $71,176,759 · Revenue $72,715,590

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Stanley Gall Jr MD

    Vice President

    Total calculated
    $714,740
    From this org
    $671,161
    From related orgs
    $0
    Other
    $43,579
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $567,703
    Bonus
    $102,270
    Other
    $1,188
    Deferred
    $18,877
    Nontaxable benefits
    $24,702
    Filer's total
    $714,740

  • Matthew Luff MD end 1122

    Sec/Treasurer

    Total calculated
    $677,128
    From this org
    $636,690
    From related orgs
    $0
    Other
    $40,438
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $534,890
    Bonus
    $101,075
    Other
    $725
    Deferred
    $17,395
    Nontaxable benefits
    $23,043
    Filer's total
    $677,128

  • Eric Deaton

    BH EVP/COO

    Total calculated
    $1,375,496
    From this org
    $0
    From related orgs
    $1,268,808
    Other
    $106,688
    Hours/week
    0.1 + 64.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $720,293 related
    Bonus
    $0 + $530,155 related
    Other
    $0 + $18,360 related
    Deferred
    $0 + $84,013 related
    Nontaxable benefits
    $0 + $22,675 related
    Filer's total
    $0 + $1,375,496 related

  • Marvin Eichorn

    BH EVP/CAO

    Total calculated
    $3,152,667
    From this org
    $0
    From related orgs
    $3,107,147
    Other
    $45,520
    Hours/week
    0.1 + 64.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $752,788 related
    Bonus
    $0 + $598,921 related
    Other
    $0 + $1,755,438 related
    Deferred
    $0 + $17,400 related
    Nontaxable benefits
    $0 + $28,120 related
    Filer's total
    $0 + $3,152,667 related

  • Mark Chang MD

    President

    Total calculated
    $765,605
    From this org
    $716,483
    From related orgs
    $0
    Other
    $49,122
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $612,775
    Bonus
    $102,270
    Other
    $1,438
    Deferred
    $24,492
    Nontaxable benefits
    $24,630
    Filer's total
    $765,605

  • Thomas Helton MD

    Physician

    Total calculated
    $218,230
    From this org
    $218,230
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,299
    Bonus
    $30,931
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $218,230

  • Keith Kramer MD

    Physician

    Total calculated
    $713,670
    From this org
    $667,753
    From related orgs
    $0
    Other
    $45,917
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $565,579
    Bonus
    $100,900
    Other
    $1,274
    Deferred
    $19,091
    Nontaxable benefits
    $26,826
    Filer's total
    $713,670

  • Sherryl Croitor MD

    Physician

    Total calculated
    $698,821
    From this org
    $678,390
    From related orgs
    $0
    Other
    $20,431
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $575,845
    Bonus
    $101,631
    Other
    $914
    Deferred
    $17,654
    Nontaxable benefits
    $2,777
    Filer's total
    $698,821

  • Jack Whitaker MDstart 123

    Physician

    Total calculated
    $802,101
    From this org
    $764,177
    From related orgs
    $0
    Other
    $37,924
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $649,917
    Bonus
    $100,876
    Other
    $13,384
    Deferred
    $17,686
    Nontaxable benefits
    $20,238
    Filer's total
    $802,101

  • Clay Runnels MD

    BH EVP & Chief Phys Exec.

    Total calculated
    $1,194,348
    From this org
    $0
    From related orgs
    $1,095,491
    Other
    $98,857
    Hours/week
    0.1 + 64.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $626,281 related
    Bonus
    $0 + $450,791 related
    Other
    $0 + $18,419 related
    Deferred
    $0 + $72,852 related
    Nontaxable benefits
    $0 + $26,005 related
    Filer's total
    $0 + $1,194,348 related

  • Tony Keck

    BH EVP/Sys Innov & CPMO

    Total calculated
    $928,983
    From this org
    $0
    From related orgs
    $837,512
    Other
    $91,471
    Hours/week
    0.1 + 64.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $477,287 related
    Bonus
    $0 + $347,573 related
    Other
    $0 + $12,652 related
    Deferred
    $0 + $63,501 related
    Nontaxable benefits
    $0 + $27,970 related
    Filer's total
    $0 + $928,983 related

  • Eduardo Fernandez MDend 1222

    Physician

    Total calculated
    $712,512
    From this org
    $668,861
    From related orgs
    $0
    Other
    $43,651
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $566,154
    Bonus
    $100,770
    Other
    $1,937
    Deferred
    $17,400
    Nontaxable benefits
    $26,251
    Filer's total
    $712,512

  • Marc Counts MD end 1222

    Physician

    Total calculated
    $624,392
    From this org
    $581,013
    From related orgs
    $0
    Other
    $43,379
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $567,375
    Bonus
    $11,352
    Other
    $2,286
    Deferred
    $18,349
    Nontaxable benefits
    $25,030
    Filer's total
    $624,392

  • Benjamin Culp MDstart 1122

    Sec/Treasurer

    Total calculated
    $713,743
    From this org
    $669,515
    From related orgs
    $0
    Other
    $44,228
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $566,057
    Bonus
    $102,270
    Other
    $1,188
    Deferred
    $17,880
    Nontaxable benefits
    $26,348
    Filer's total
    $713,743

  • Jonathan Burress MDstart 123

    Physician

    Total calculated
    $725,242
    From this org
    $680,858
    From related orgs
    $0
    Other
    $44,384
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $567,762
    Bonus
    $102,182
    Other
    $10,914
    Deferred
    $20,234
    Nontaxable benefits
    $24,150
    Filer's total
    $725,242

  • Chase Wilson end 423

    BHMA VP, COO/CFO

    Total calculated
    $336,497
    From this org
    $0
    From related orgs
    $296,185
    Other
    $40,312
    Hours/week
    4.5 + 40.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $229,756 related
    Bonus
    $0 + $66,225 related
    Other
    $0 + $204 related
    Deferred
    $0 + $14,416 related
    Nontaxable benefits
    $0 + $25,896 related
    Filer's total
    $0 + $336,497 related

  • Mark Patterson MD

    BHMA SVP/President

    Total calculated
    $750,906
    From this org
    $661,164
    From related orgs
    $0
    Other
    $89,742
    Hours/week
    54.5 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $500,802
    Bonus
    $152,838
    Other
    $7,524
    Deferred
    $61,791
    Nontaxable benefits
    $27,951
    Filer's total
    $750,906

  • Matthew Lazari start 722

    CFO-BHMA

    Total calculated
    $167,409
    From this org
    $0
    From related orgs
    $142,000
    Other
    $25,409
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $140,502 related
    Bonus
    $0 + $1,250 related
    Other
    $0 + $248 related
    Deferred
    $0 + $5,020 related
    Nontaxable benefits
    $0 + $20,389 related
    Filer's total
    $0 + $167,409 related

  • David Metzger MD

    Physician

    Total calculated
    $1,017,598
    From this org
    $979,534
    From related orgs
    $0
    Other
    $38,064
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $574,714
    Bonus
    $102,270
    Other
    $302,550
    Deferred
    $17,400
    Nontaxable benefits
    $20,664
    Filer's total
    $1,017,598

  • Julius Gasso MD

    Physician

    Total calculated
    $720,097
    From this org
    $698,806
    From related orgs
    $0
    Other
    $21,291
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $595,750
    Bonus
    $100,770
    Other
    $2,286
    Deferred
    $9,063
    Nontaxable benefits
    $12,228
    Filer's total
    $720,097

  • David Beckner MD

    Physician

    Total calculated
    $348,397
    From this org
    $317,313
    From related orgs
    $0
    Other
    $31,084
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $316,146
    Bonus
    $750
    Other
    $417
    Deferred
    $17,960
    Nontaxable benefits
    $13,124
    Filer's total
    $348,397

  • Heesuk Yoon MD

    Physician

    Total calculated
    $736,268
    From this org
    $694,151
    From related orgs
    $0
    Other
    $42,117
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $589,288
    Bonus
    $102,270
    Other
    $2,593
    Deferred
    $17,900
    Nontaxable benefits
    $24,217
    Filer's total
    $736,268

  • Luke Erdoes MD

    Physician

    Total calculated
    $703,196
    From this org
    $689,988
    From related orgs
    $0
    Other
    $13,208
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $586,530
    Bonus
    $102,270
    Other
    $1,188
    Deferred
    $4,540
    Nontaxable benefits
    $8,668
    Filer's total
    $703,196

  • Leanne Cox end 102020

    Former Officer VP/CFO

    Total calculated
    $139,272
    From this org
    $0
    From related orgs
    $106,022
    Other
    $33,250
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $103,846 related
    Bonus
    $0 + $1,250 related
    Other
    $0 + $926 related
    Deferred
    $0 + $6,906 related
    Nontaxable benefits
    $0 + $26,344 related
    Filer's total
    $0 + $139,272 related

  • Lori Jackson

    Former Key Emp AVP/Svc Lin

    Total calculated
    $176,934
    From this org
    $0
    From related orgs
    $162,009
    Other
    $14,925
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $140,594 related
    Bonus
    $0 + $1,250 related
    Other
    $0 + $20,165 related
    Deferred
    $0 + $9,718 related
    Nontaxable benefits
    $0 + $5,207 related
    Filer's total
    $0 + $176,934 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 4b
The following executives listed in Schedule J, Part II participated in a 457(f) retirement plan provided by Ballad Health (BH). The 457(f) plan is a nonqualified tax-deferred compensation plan available to a select group of key executives for the intent of supporting retention and to offer a competitive total retirement program. Account balances have a "substantial risk of forfeiture". In addition to creditor risk, substantial risk of forfeiture is created through default risk if the participant's employment with BH is terminated prior to age 65. However, the 457(f) plan contains a non-compete provision that provides the account balance to be paid in a lump sum after the executive satisfies the two-year non-compete period. This provision applies to employer contributions if the executive has provided eligible service for six or more years. The executive will receive the entire account balance if he/she becomes disabled, dies or if the executive terminates for "good reason or is involuntarily terminated without "good cause" within a 24-month period after a change-of-control occurs. Distributions from this plan are subject to federal, state, and local taxes on the entire account balance upon distribution. Eric Deaton $66,613 Tony Keck $45,581 Mark Patterson $43,898 Clay Runnels $55,452

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • Emmaus Community Healthcare PLLC

    N/A · Medical Services · TN

  • Medical Specialists of JC LLC

    N/A · Medical Services · TN

  • East Tennessee Ambulatory Surgery Center

    N/A · Medical Services · TN

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Wellmont Inc

    C · Medical Services · TN

  • Wellmont Physician Services

    C · Medical Services · TN

  • WPS Providers Inc

    C · Medical Services · TN

  • Wellmont Health Services Inc

    C · Medical Services · TN

  • Wellmont Insurance Co SPC LTD

    C · Insurance · CJ

  • Blue Ridge Medical Management Corp

    C · Medical Services · TN

  • Mediserve Medical Equipment

    C · Durable Medical Equipment · TN

  • Mountain States Properties

    C · Property Management · TN

  • Mountain States Physician Grp

    C · Medical Services · TN

  • Community Home Care Inc

    C · Durable Medical Equipment · VA

  • Wilson Pharmacy Inc

    C · Pharmacy · TN

  • Nolichuckey Management Svcs Inc

    C · Medical Services · TN

  • Ballad Ventures LLC

    C · Investments · TN

  • Ballad Health Development Corporation

    C · Investments · TN

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202411369349306216

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