2023-05-12T17:34:27-05:00 2022-06-30 990 2021-07-01 263557623 Wellmont Cardiology Services WELL 4233023374 311 Princeton Road Suite 1 Johnson City TN 376012080 Chase Wilson VP/COO-BHMA 4233023374 2023-05-12 Chase Wilson 999009999 P03077501 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z Chase Wilson 1905 American Way Kingsport TN 37660 62431042 0 X balladhealth.org X 2010 TN Honor those we serve by delivering the best possible care. 12 0 340 0 0 0 5425 50 55474697 61959616 6704 2146 21814 469230 55508640 62431042 0 0 0 0 44883217 51344857 0 0 0 10271962 10562251 55155179 61907108 353461 523934 7268976 5691536 10657550 11951369 -3388574 -6259833 X 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. 0 0 56727235 0 60941219 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 57 certified cardiologists and cardiovascular and thoracic surgeons who work in twelve community offices and the nine 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 2022, WCS had 129,210 outpatient encounters and performed 3,778 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 2022, WCS incurred a loss of $593,993 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 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-Diabetes Expo-Diabetes Symposium-Presentations to medical societies-Regional Healthcare SymposiumWCS 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). 56727235 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 26 0 1 340 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 0 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 X Lynn Krutak 4233023374 303 Med Tech Parkway Suite 300 Johnson City TN 37604 Stanley Gall Jr MD Vice President 40.00 0.00 X X 635438 0 40887 Matthew Luff MD end 5922 Secretary 40.00 0.00 X X 631834 0 41279 Eric Deaton BH EVP/COO 0.10 64.90 X X 0 1021443 104184 Marvin Eichorn BH EVP/CAO 0.10 64.90 X X 0 1154466 43904 Mark Chang MD President 40.00 0.00 X X 666510 0 41083 Thomas Helton MD start 11322 Physician 40.00 0.00 X 268879 0 209 Keith Kramer MD Physician 40.00 0.00 X 631352 0 43268 Sherryl Croitor MD start 621 Physician 40.00 0.00 X 641798 0 21176 Clay Runnels MD BH EVP & Chief Physician Exec 0.10 64.90 X 0 811148 93765 Tony Keck BH EVP/Sys Innov & CPMO 0.10 64.90 X X 0 664042 85520 Joseph Foley MD end 1221 Physician 40.00 0.00 X 644971 0 42598 Eduardo Fernandez MD Physician 40.00 0.00 X 634124 0 42428 Marc Counts MD Physician 40.00 0.00 X 630598 0 45230 Mark Patterson MD BHMA SVP/President 0.50 54.50 X 0 716186 86766 Chase Wilson BHMA VP, COO/CFO 4.50 40.50 X 0 279940 38130 David Metzger MD Physician 40.00 0.00 X 938717 0 36985 Julius Gasso MD Physician 40.00 0.00 X 676761 0 34930 Pierre Istfan MD Physician 40.00 0.00 X 658858 0 42324 David Beckner MD Physician 40.00 0.00 X 649637 0 43829 Jack Whitaker MD Physician 40.00 0.00 X 750413 0 30088 Leanne Cox end 102020 Former Officer VP/CFO 0.00 40.00 X 0 105169 31799 Lori Jackson Former Key Emp AVP/Svc Line Leader 0.00 40.00 X 0 269237 21801 9059890 5021631 1012183 84 1 1 0 Holston Medical Group PO Box 9 Kingsport TN 37662 Professional Svcs 459300 Precision Nuclear LLC 830 Suncrest Drive Gray TN 37615 Imaging Services 213175 2 50 50 Hospital Support 900099 28308713 28308713 Net Patient Revenue 621990 27706086 27706086 Clinical Services 621990 3269282 3269282 CARES Act Revenue 900099 1623491 1623491 Research Revenue 541700 1018397 1018397 33647 33647 61959616 2146 2146 6639 0 6639 6639 6639 Gain on Settlement 900099 451097 451097 Medical Records 900099 7306 7306 Vending Commission 900099 2988 2988 1200 1200 462591 62431042 60941219 0 1489773 5936293 5936293 39663269 38847514 815755 1165745 1140205 25540 2676967 2670449 6518 1902583 1856774 45809 8991 8991 1781696 1776020 5676 343487 128935 214552 2013356 2008876 4480 355841 354133 1708 8166 8166 618361 540893 77468 50161 50161 Support Services 3797851 3797851 Maintenance 739007 713996 25011 Medical Supplies 350601 350601 Dues & Subscriptions 230317 148003 82314 264416 246377 18039 61907108 56727235 5179873 0 1176 1596 1057468 1954902 5533 96106 29222 0 291922 398871 9371618 6700862 2862778 2670756 423677 423677 2597200 145628 7268976 5691536 8747449 11423210 1910101 528159 10657550 11951369 X -3388574 -6259833 -3388574 -6259833 7268976 5691536 X 523934 -3395193 X 0 1 X 1 1 1 X 4771 32508 0 5425 50 42754 49356563 51523140 48275613 54585889 60941219 264682424 25352 32615 20405 17161 462591 558124 49386686 51588263 48296018 54608475 61403860 265283302 0 0 0 265283302 1821 3796 6536 6357 8785 27295 1821 3796 6536 6357 8785 27295 1087793 629714 761264 893809 1018397 4390977 50476300 52221773 49063818 55508641 62431042 269701574 0.98360 0.97890 0.00010 0.00050 X 59498 22868 36630 2994274 1862899 1131375 6317846 4815095 1502751 2670756 Operating Lease Obligation ST 131169 Operating Lease Obligation LT 272270 Due to Affiliates 124720 528159 X Part X, Line 2: Wellmont Cardiology Services is included in the audited consolidated financial statements of Ballad Health. The footnote explanation relative to income taxes reads: "Ballad is classified as an organization exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. As such, no provision for federal income taxes is included in the accompanying consolidated financial statements. Taxable subsidiaries are discussed in Note K. No significant uncertain tax positions exist at June 30, 2022 and 2021. Tax returns for 2019 through 2021 are subject to examination by the Internal Revenue Service." 0 1 0 0 0 0 0 0 0 Marvin Eichorn BH EVP/CAO 0 738294 0 347261 0 68911 0 17100 0 26804 0 1198370 0 0 Eric Deaton BH EVP/COO 0 656895 0 334180 0 30368 0 83012 0 21172 0 1125627 0 0 David Metzger MD Physician 563384 0 73025 0 302308 0 17100 0 19885 0 975702 0 0 0 Clay Runnels MD BH EVP & Chief Physician Exec 0 539228 0 244092 0 27828 0 68561 0 25204 0 904913 0 0 Mark Patterson MD BHMA SVP/President 0 494284 0 205450 0 16452 0 60534 0 26232 0 802952 0 0 Jack Whitaker MD Physician 664480 0 71525 0 14408 0 12028 0 18060 0 780501 0 0 0 Tony Keck BH EVP/Sys Innov & CPMO 0 444898 0 212357 0 6787 0 61803 0 23717 0 749562 0 0 Julius Gasso MD Physician 580212 0 89291 0 7258 0 25224 0 9706 0 711691 0 0 0 Mark Chang MD President 591978 0 72164 0 2368 0 17376 0 23707 0 707593 0 0 0 Pierre Istfan MD Physician 583831 0 73025 0 2002 0 16610 0 25714 0 701182 0 0 0 David Beckner MD Physician 575317 0 71525 0 2795 0 17100 0 26729 0 693466 0 0 0 Joseph Foley MD end 1221 Physician 572213 0 71525 0 1233 0 17015 0 25583 0 687569 0 0 0 Eduardo Fernandez MD Physician 557968 0 73025 0 3131 0 17100 0 25328 0 676552 0 0 0 Stanley Gall Jr MD Vice President 559508 0 73025 0 2905 0 17100 0 23787 0 676325 0 0 0 Marc Counts MD Physician 555165 0 71667 0 3766 0 17100 0 28130 0 675828 0 0 0 Keith Kramer MD Physician 557127 0 71525 0 2700 0 17100 0 26168 0 674620 0 0 0 Matthew Luff MD end 5922 Secretary 559089 0 71582 0 1163 0 17100 0 24179 0 673113 0 0 0 Sherryl Croitor MD start 621 Physician 568197 0 71525 0 2076 0 20818 0 358 0 662974 0 0 0 Chase Wilson BHMA VP, COO/CFO 0 216688 0 63133 0 119 0 13770 0 24360 0 318070 0 0 Lori Jackson Former Key Emp AVP/Svc Line Leader 0 209206 0 54613 0 5418 0 13236 0 8565 0 291038 0 0 Thomas Helton MD start 11322 Physician 193537 0 73025 0 2317 0 0 0 209 0 269088 0 0 0 Leanne Cox end 102020 Former Officer VP/CFO 0 102060 0 500 0 2609 0 6886 0 24913 0 136968 0 0 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 $65,950 Tony Keck $44,703 Mark Patterson $43,434 Clay Runnels $50,611 Form 990, Part VI, Section A, line 6 The business and affairs of Wellmont Cardiology Services (WCS) are governed exclusively by the Board of Directors. WCS's Board of Directors is designated by Wellmont Health System, the sole member of WCS. In addition to such rights of approval and consent as may be reserved to the sole member of WCS pursuant to applicable law, transactions of the following matters by WCS require the prior approval of Wellmont Health System: (A) Implementation of Corporation's annual budget, (B) Incurring any loan or other indebtedness for borrowed money, (C) Acquisition of any equipment or personal property for a purchase price in excess of $50,000 or the acquisition of any real estate, regardless of purchase price, (D) The undertaking of certain contractual commitments, (E) Entering into any plan of merger or consolidation, (F) Acquisition of substantially all of the assets of any other legal entity, and (G) Institution of any litigation by or on behalf of WCS. Form 990, Part VI, Section A, line 7a Wellmont Health System (WHS) is WCS's sole member. The board of directors of Ballad Health, WHS's parent organization, serves as WHS's board of directors and is responsible for appointing the directors of WCS's board. Form 990, Part VI, Section A, line 7b Certain decisions of the board are, pursuant to charter, subject to approval of the members. No ordinary, day-to-day decisions are subject to member approval. Form 990, Part VI, Section B, line 11b The Ballad Health Tax Department prepares and reviews the Form 990. During preparation other functional areas within the organization provide information and support to complete an accurate return. The return is reviewed by the organization's VP/COO and is provided in electronic form to all members of the Board of Directors prior to being filed with the IRS. Form 990, Part VI, Section B, line 12c Ballad Health has a conflict of interest policy for all members of the Board of Directors, the Executive Chair/President, Executive Vice Presidents, Senior Vice Presidents, and Vice Presidents, and applies to all Ballad Health organizations. All persons covered by this policy are required to complete a conflict of interest disclosure form on an annual basis. Should a conflict arise, it is the responsibility of the conflicted individual to update his or her disclosure immediately. All meetings of the board or board committees have a standing agenda item first on the agenda titled "Conflicts of Interest". If a member of the board or board committee has a conflict of interest involving any issue on the board agenda, he or she must declare the conflict of interest during the period allotted for disclosure. If any issue arises during a meeting in which the board member has a conflict of interest, he or she must immediately declare the conflict. While each member of the board or board committee is responsible for disclosing conflicts of interest, it is also the responsibility of any board member aware of a conflict which has not been disclosed to ensure the board is made aware. The presiding officer of a board or board committee meeting may ask a conflicted member to excuse themselves from the meeting during the discussion related to the issue with which the conflict of interest applies. Under no circumstances shall a member vote on a matter that gives rise to a potential conflict. Form 990, Part VI, Section B, line 15 Line 15a - Compensation Process for Top Official During FY22, Dr. Mark Chang served as the President of WCS and received no compensation for his board services to WCS. His compensation is derived from medical services provided to WCS. His compensation, consistent with all WCS physicians, is evaluated annually by the board utilizing an independent third-party physician compensation database. Line 15b - Compensation Process for Officers On an annual basis, Ballad Health's Human Resources (H/R) Department evaluates compensation for all executives at a position level of Assistant Vice President and above. H/R's evaluation is based on market data obtained from independent third-party consultants for positions with similar responsibilities at similarly situated organizations. Based on this comparable data, Ballad Health's CEO evaluates the data and, if appropriate, makes necessary adjustments. Any adjustments to Senior Vice Presidents or above are reviewed by the Board of Directors Executive Compensation Committee. In addition, Ballad Health offers an incentive plan to executives based on targeted achievement metrics categorized by; Quality, Service and Safety; Access to Care; Financial Stewardship, and any other metrics approved from time to time by the Board of Directors. Form 990, Part VI, Section C, line 19 Governing documents and conflict of interest policy are made available upon request to the appropriate parties requesting them. Financial statements are made available upon request to appropriate parties requesting them, and they are made available to those parties who own indebtedness of the company on a quarterly basis. Form 990, Part XI, line 9: Intercompany transfers -3,395,193. 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