We offer our team members market-competitive pay and benefits, flexible work schedules, a wide variety of development and growth opporutunities, and a challengeing … ", "Ballad Health is grateful for the hard work the State of Tennessee and Commonwealth of Virginia are doing to help health systems respond to the current pandemic, while at the same time working to ensure the creation of Ballad Health continues achieving the policy goals set by both state legislatures," said Ballad Health Chairman and Chief Executive Officer Alan Levine. BayCare Health Systems Inc., the largest not-for-profit healthcare provider in the Tampa Bay area, broke through the $4 billion mark in operating revenue in 2018, following investments to increase access to care and improve the quality of care. Ballad Health welcomes team members and colleagues who are committed to the care of all our patients – regardless of their background – and also to the improvement of the human condition. Clinical quality and operational and financial results continued a positive trend. Operating income for the year improved to $36.5 million from $9.9 million in the same period prior year. Total expenses (prior to the incremental expenses associated with the implementation of a new electronic medical record and the COVID-19 pandemic) totaled $2.031 billion, as compared to the prior year of $2.060 billion. The Commonwealth's Department of Health further independently determined "the benefits of the Cooperative Agreement to-date, and likely to result in the future, continue to outweigh the disadvantages attributable to a reduction in competition" which existed between Ballad Health's predecessor organizations, Wellmont Health System and Mountain States Health Alliance. Ballad Health invested $259.4 million into the region’s labor force. With the rise in … While Ballad Health was not immune to the market fluctuations, the diversified approach to both the investment and debt programs complemented one another to assist in loss mitigation. Ballad Health was selected by the High Value-Care Collaborative to participate with leading health systems to adopt strategies that will reduce unnecessary costs and deliver evidence-based care that’s been demonstrated to reduce the burden on patients. Other operating revenue of $27.7 million exceeded the prior year by $10.8 million (64.1%). Direct Phone (423) ***-**** Get Email Address Get Phone Number. Commercially insured revenue decreased from 22.5% to 21.6% - the lowest such mix ever recorded by Ballad Health or its predecessor organizations. Forty percent of Ballad Health’s revenue is attributable to inpatient services; of that revenue, 16% was attributed to commercially insured patients. We strive to be a zero-harm, top-decile institution, and so far, the work of our unique clinical council in partnership with our administrative leadership is showing promise.”. Highlights from Ballad Health's patient satisfaction surveys are also showing positive trends. Export. Access Tim's Contact Information . The CEOC is composed of key leaders overseeing essential functions of the health system, including logistics, supply chain, communications, operations, finance, government relations and clinical services. By creating an account, you agree to theTerms of Service and acknowledge our Privacy Policy. All rights reserved. While Ballad Health has focused on improved financial performance, it has also continued to invest nearly $200 million in capital for new equipment, diagnostic technology, building improvements, information technology infrastructure and a common electronic health record. Ratings showing improvement include: nurses treated the patient with courtesy and respect; patients who rated one of Ballad Health's hospitals a score of 10 out of 10; those who would "strongly" recommend the hospital to a friend or family member; and cleanliness of the hospital. Total debt outstanding increased, due to the adoption of the Accounting Standards Update No. “Many of the quality metrics that we’ve seen improve have led to lower costs. According to the state of Tennessee, fewer job losses resulted from the merger than what was originally anticipated. Ballad Health Annual Revenue and Growth Rate. Manager, Revenue Cycle at Ballad Health. “Ballad Health is facing a rapidly changing landscape where our financial success is no longer judged solely by volume, but increasingly, how we care for fewer people more efficiently, effectively and with better outcomes,” Levine said. This is intended to help improve quality of care and nursing satisfaction. Forty percent of Ballad Health’s revenue is attributable to inpatient services; of that revenue, 16% was attributed to commercially insured patients. We are pleased with these operating results, which demonstrate that, against serious headwinds for all hospitals in the nation, Ballad Health is taking the right steps to ensure patient safety, demonstrably higher quality and stable financial performance – all of which are necessary and important.”. Creation of a new residential program for women who are pregnant and suffer from addiction. That quarter ended with patient revenue … To put this investment into context, Ballad Health’s entire operating income in fiscal year 2018 was $9.9 million. The National Rural Health Association has called the nursing shortage “a plague throughout the United States, and rural communities are hit harder than their urban counterparts.”  In a comprehensive report released by the NSI Nursing Solutions, Inc., titled “2019 National Health Care Retention and RN Staffing Report," the shortage of registered nurses will reach 1.13 million by 2024. A single failure is a 100% failure rate for that patient, and that will never be acceptable to us. Total Net Assets decreased over prior year end by … These savings have not only benefitted federal taxpayers; evidence shows area employers are benefitting from partnering with Ballad Health. Ballad Health also announced a new dental residency program in Southwest Virginia, the funding of a new master’s program in addiction counseling in partnership with Milligan College and an addiction medicine fellowship program at East Tennessee State University’s Quillen College of Medicine. Other operating revenue of … For purposes of transparency, financial results are reported with, and without, the impact of the CARES funds. The numbers that drive the numbers The pandemic’s effects were about two weeks in when Ballad’s fourth quarter started April 1. Ballad Health’s investment into the region’s labor force is extremely powerful, with Ballad Health spending $1.043 billion on salaries, wages and benefits for the year. These surgeons add additional experience with trauma, complementing an already high-quality surgical program. Ballad Health cannot predict the impact, financial or otherwise, of variations in volumes of COVID-19 cases in the region. Ballad Health Revenue Est. 2/13/2020 7:00 PM. The decline in hospital admissions in Ballad Health’s service area is driven in part by the efforts of Ballad Health and area physicians to utilize lower-cost alternatives to hospital stays as appropriate. Prior to the merger that created Ballad Health, it was estimated as many as 1,000 jobs would be eliminated had both legacy health systems been acquired by systems based elsewhere. Ballad Health’s new Behavioral Services Division is developing alternative solutions to assist these individuals, which will hopefully assist in diverting them from its emergency departments. Outpatient surgeries, including ambulatory surgical cases, declined 1.4% to 51,677. Company Ballad Health. 5. This investment drew matching funds from the State of Tennessee, making the contribution the largest in the history of ETSU, A partnership with one of the nation's leading healthcare economists at Harvard University, leading to a study on rural healthcare economics that brings together Harvard Medical School with the ETSU Center for Rural Health and Research. New major capital spending was limited in the fourth quarter, with the onset of the financial impact of the pandemic. Ballad Health’s investment into the region’s labor force is extremely powerful, with Ballad Health spending $1.043 billion on salaries, wages and benefits for the year. This program has attracted additional investment by the State of Tennessee, and it is in the process of being implemented. The system reported spending $267.1 million on salaries, wages and benefits, an increase of $1.5 million from the same period of last year. Since the closing of the merger, Ballad Health has recruited more than 150 new physicians and advanced practice providers to serve the region. In the past year, Ballad Health also announced it was one of only 21 Accountable Care Organizations in the nation to help Medicare achieve cost savings in each of the first several years of the program – saving taxpayers more than $45 million. The Virginia Department of Health also noted "Ballad Health is a driving force in the area-wide Accountable Care Community that has more than 250 member organizations and has chosen to focus on STRONG children and families in order to improve population health across the region. JOHNSON CITY, Tenn. – Ballad Health today announced fourth-quarter and year-end results from its 2020 fiscal year. ", Financial highlights for the quarter ended June 30, 2020. Highlights of Ballad Health's contributions to the region. As they achieve milestones, they can earn increased pay and responsibility. Significant capital investment related to information technology infrastructure and a common electronic health record, building improvements, new ventilators, laboratory and microbiology equipment, new diagnostic equipment and technology, 3D mammography upgrades, replacement of patient beds and navigational diagnostic systems totaled $116 million for the fiscal year. "It is the Tennessee Department of Health's determination that the Ballad Health COPA continues to provide a public advantage," stated the Tennessee Department of Health in a recent finding, citing, among other things, improvements in a majority of quality measures. And recently, Forbes Magazine named Johnson City Medical Center as one of the best employers in Tennessee, among all employers. This initiative, led by Chief Clinical Officer Dr. Amit Vashist, has created a physician/team member/administrative partnership that is demonstrating results. Tim Calhoun Contact Information. 400 N State of Franklin Rd, Johnson City, Tennessee, 37604, United States . Through its partnership with the Medicaid Transformation Project and 29 other innovative health systems in America, Ballad Health is contributing to the improvement of healthcare for America's 75 million consumers who rely on Medicaid. Lower lengths of stay, reduced rates of hospital-acquired conditions, reduced readmissions and better integration with physicians have helped reduce the cost of care and helped Ballad Health achieve success with the new value-based purchasing environment.”. "We know each experience is unique, and we have to be relentless in our pursuit of ensuring we meet the needs of each patient and family. A free inside look at company reviews and salaries posted anonymously by employees. Ballad Health has endeavored to eliminate unnecessarily duplicative services, as duplication spreads out nursing resources such that optimal staffing cannot be achieved. EBITDA of $246.3 million was $8.2 million, or 3.2%, below the prior year. Ballad Health carries underlying ratings that consist of Fitch Ratings: "A," Standard & Poor's: "A-" and Moody's Investor Service: "Baa1," with positive outlook. For instance, if there are two emergency departments located within four miles of each other in a community where the hospitals are running at or below 30% capacity, then it requires more nurses to staff both emergency departments and hospitals. Ballad Health has worked with physicians and payers to reduce the number of lower acuity admissions. Communication Assistance & Interpreter Services, Medical, Pharmacy & Dental Residency Programs, Scott and Nikki Niswonger Servant’s Heart Award, Spiritual Health Services, Chaplains & Chapels, East Tennessee State University’s Quillen College of Medicine, With Changes in State of Tennessee Vaccination Program, Ballad Health to Cease New Vaccinations for the Public in Tennessee, Ballad Health, Appalachian School of Law and Virginia Tech create Medical-Legal Partnership, Financial Assistance Policy & Application, Report a Safety Concern – The Joint Commission. For the quarter ended June 30, 2020, Ballad Health's days cash on hand was 324, more than sufficient to meet the covenant requirements under the MTI. Forty percent of Ballad Health’s revenue is attributable to inpatient services; of that revenue, 16% was attributed to commercially insured patients. A $10 million annual investment into increasing direct patient care nursing wages, affecting nearly one-third of Ballad Health’s workforce. Ballad Health’s improved financial performance for the year follows dedicated expense management, improvements in productivity, reduced reliance on temporary/contract labor and focused supply cost management. Ballad Health was highlighted by Harvard University and the nation's largest health insurer as one of four healthcare organizations leading the way toward value-based healthcare. The report cites a “rising turnover and a retirement wave about to break,” with nursing turnover about to “set a new high-water mark for the decade.” Finally, the report states, “half of hospitals would like to decrease their reliance on supplemental staffing.”. During these circumstances, Ballad Health attempts to utilize supplemental nurse staffing to create additional capacity. By focusing on reducing unnecessary duplication in cost, we can be stronger financially as we continue to see a decline in inpatient utilization.”. 10 in Tennessee last year to No. Better integration in staffing models has led to more patients being treated in lower-cost settings in their home communities. Revenue for the year grew 1.3%, while expenses remained flat, leading to an improvement in the operating margin to 1.7% from 0.5% in the prior year. Ballad Health was founded in 2016. Excluding the impact of coronavirus disease 2019 (COVID-19), the results demonstrate significant reductions in the cost of healthcare for employers, patients and taxpayers; substantially higher quality that shows top-decile performance in certain measures; and improved patient satisfaction. 7 this year. During the fourth quarter, ending June 30, 2020, Ballad Health recognized $82.5 million in incremental federal funding provided through the Coronavirus Aid, Relief and Economic Security (CARES) Act. The U.S. Health Resources and Services Administration projects that Tennessee will only be able to meet half of the demand for registered nurses by next year. This investment represents 100% of Ballad Health’s operating income from the last fiscal year. Vice President, Revenue Cycle Ballad Health Feb 2018 - Jun 2018 5 months. As of the quarter ended March 31, 2020, Ballad Health’s assets exceeded liabilities by $1.565 billion. In each hospital, nurse leaders determine during each shift the acuity and volumes of patients and take into consideration the available staffing based on volume, which fluctuates throughout the day. Based on feedback from nursing staff, Ballad Health has implemented an updated and more robust clinical nursing ladder program. While these statements reflect management's best judgment on what the future might hold, they are subject to risk and uncertainty that can cause actual results to differ materially. Driven by clinical leadership and the contributions of physicians and team members across the system, Ballad Health has seen significant improvements in objective quality measures since the creation of the system on Feb. 1, 2018. Ballad Health today announced fourth-quarter and year-end results from its 2020 fiscal year, and that report illustrates the impact the COVID-19 pandemic has had on the healthcare provider. Data released from the National Council of State Boards of Nursing provides a sobering reminder of the looming challenges for meeting nursing workforce demands. Beginning on or about March 17, Ballad Health began experiencing an organic and material slowing of elective procedures and diagnostic services. Thank you for subscribing! The Revenue Cycle Coordinator is responsible for implementing and supporting Revenue Cycle Systems within Ballad Health Medical Associates managed clinics. Reviews from Ballad Health employees about working as a Revenue Cycle Specialist at Ballad Health. Five new digital mammography systems 3. Ballad Health today announced quality, investment and financial results from its first full fiscal year of operation as a combined system. This misapplication of resources leads to suboptimal staffing and potentially more shortages. By avoiding these admissions, Ballad Health has been successful in reducing demand for nurses. This is a clear benefit of the merger as opposed to the alternative. On March 10, Ballad Health executed its disaster plan, which includes the activation of its Corporate Emergency Operations Center (CEOC) to coordinate efforts across the system and around the region to rapidly plan for, and execute, ongoing response to the issues resulting from the COVID-19 pandemic. Ballad Health is an integrated healthcare delivery system serving 29 counties of Northeast Tennessee, Southwest Virginia, Northwestern North Carolina and Southeastern Kentucky. “Not only are we demonstrating that reducing lower acuity admissions is beneficial to patients and the payers, but we are also seeing improvement in measures of quality within our hospitals. “Many health systems, including Ballad Health, have a revenue cycle platform built on a framework tied to payment models that are no longer contemporary. For the year ending June 30, 2019, operating cash flow improved to $228.1 million from $197.6 million in the prior year, a 15.4% improvement. This year, Ballad Health had 5,085 fewer admissions, with approximately 4,290 of those admissions being lower acuity medical admissions. “Ballad Health has so far been successful providing lower overall costs to consumers while also improving its own financial performance, proving that better quality should mean lower costs,” Levine said. The CEOC acts as the clearinghouse for all organizational planning and decision-making related to the event, and it continues its responsibilities under the oversight of, and until discontinued by, the chief executive officer. Copyright ©2019 Ballad Health. Ballad Health was one of only two health systems in America chosen as a demonstration site for the worldwide Leipzig Interventional Conference in Germany, with Holston Valley Medical Center's Dr. Chris Metzger joining New York's Mount Sinai Hospital to demonstrate high-complexity interventional cardiovascular procedures. Revenues for the 12 months ended June 30, 2020, totaled $1.993 billion, compared to $2.104 billion in the same period of 2019. The reader should not place undue reliance on these forward-looking statements, which reflect management's opinion only as of the date of this publication. That quarter ended with patient revenue down a whopping $139 million, or 27 percent, from the fourth quarter of 2019. Ballad Health's Accountable Care Organization was named by the United States Centers for Medicare and Medicaid Services (CMS) as one of only 18 in the nation generating savings for taxpayers in every year of the shared savings program – saving taxpayers more than $50 million. Ballad said the revenue boost and flat expenses resulted in an operating margin of 1.7 percent in fiscal year 2019, up from 0.5 percent in fiscal year 2018. Rural health systems are highly unlikely to be among the top performing, making Ballad Health's results striking. The recent investment into physician leadership is demonstrative of Ballad Health’s determination to ensure this is a place where physicians want to practice.”. Senior Vice President, Revenue Cycle Ballad Health Jun 2018 - Jun 2020 2 years 1 month. Successes include the recruitment of cardiology in rural Wytheville and Norton, Virginia; nephrology in Abingdon, Virginia; and urology in Kingsport. Ballad Health also announced plans to open a new rural hospital in Lee County, Virginia – an effort not required by the Certificate of Public Advantage (COPA) or Cooperative Agreement, but supported by the board of directors to improve access. The company’s operating margin Forty percent of Ballad Health's revenue is attributable to inpatient services; of that revenue, 16% was attributed to commercially insured patients. Other operating revenue of $26.3 million exceeded the prior year by $12.2 million (86.7%). Like most health systems, Ballad Health seeks to reduce the number of contract, or traveler, nurses. Don't have a Benzinga account? The creation of a new dental residency program in Southwest Virginia, and through a partnership with Mission of Mercy, the opening of the Appalachian Highlands Community Dental Center, which serves the needs of low-income, rural residents, A new partnership with Ensemble Health, leveraging Ballad Health's revenue cycle services to bring as many as 500 new jobs to the region, Investment in partnership with 15 other leading health systems in the United States to bring manufacturing of personal protective equipment back on-shore from China, with Ballad Health taking a position in an American manufacturer – cementing a supply line for Ballad Health and the region. Forty percent of Ballad Health’s revenue is attributable to inpatient services; of that revenue, 16% was attributed to commercially insured patients. “This is attributable to the incredible work of our doctors, nurses and support team members who focus every day on better quality and lower cost. In partnership with ETSU, the recruitment of two pediatric surgeons, bringing the total to three serving the region – an all-time high. A list of any new Payors which executed Managed Care Contracts during the preceding calendar year and verified certification from the Ballad Health Chief Financial Officer that the pricing for such contracts complies with Addendum 1 13 xxii. During the latter half of the fiscal year, Ballad Health's inpatient experience and emergency department ratings reached the highest level in more than six months, and the ratings continue to climb. Ballad Health cannot predict the impact of future government and administrative regulation and stimulus funding. Total cash flow (EBITDA) improved to $254.6 million versus $199.6 million in the same 12-month period prior year, a 27.5% increase. Specific examples include: Investments by Ballad Health also are beginning to generate benefits for the region. According to Epic, despite deploying the system during a global pandemic, Ballad Health's successful conversion was among the best the electronic health record company's staff had observed, with Ballad Health achieving 100% of the key performance indicators for success. Also, Ballad Health reported that, as a health system approved under a Certificate of Public Advantage (COPA) in Tennessee and Letter Authorizing a Cooperative Agreement in Virginia, both the State of Tennessee and the Commonwealth of Virginia have found the advantages stemming from the creation of Ballad Health are evident and demonstrable. This program is a best-practice model designed to provide less experienced nurses with mentorship and growth opportunity to expand their skills. Alongside Holston Valley being recognized by IBM Watson Health as one of America's top 50 heart hospitals, Ballad Health retains its place as among the best places in America to seek cardiac care. Ballad Health has been successful reducing the use of temporary traveler nurses by 50% over the last year, while at the same time continuing to utilize them in areas of significant need or during times of peak volumes. Privacy Policy / Do Not Sell My Personal Data, The establishment of the Ballad Health Strong BRAIN Institute/Center for Trauma Informed Care at ETSU for the study of childhood trauma, making ETSU one of the leading organizations in the nation for this emerging area of science, The funding and establishment of the Center for Rural Health and Research at ETSU, making ETSU one of the nation's leaders in the study of rural healthcare. In Tennessee, all three of Ballad Health’s flagship hospitals were among the top-performing hospitals, while in Virginia, Johnston Memorial was among the top performers. Ballad Health generated $17 million in profits in the fourth quarter of its fiscal year that ended on June 30, a 22% decline from the same period the year before. From a balance sheet perspective, total assets declined $134 million, and net assets decreased by $162 million as compared to Dec. 31, 2019. Ballad Health today announced fourth-quarter and year-end results from its 2020 fiscal year, and that report illustrates the impact the COVID-19 pandemic has had on the healthcare provider. And while Ballad’s board hasn’t even passed a budget for the year that started July 1, projections are even uglier this year. Ballad Health and Ensemble Health Partners announced Thursday morning a partnership that will bring up to 500 new jobs to the region in the next five years. Zero infections for abdominal hysterectomy cases across the system, 42% reduction in clostridium difficile infections, 39% reduction in iatrogenic pneumothorax rate, 13% reduction in central line blood stream infections. The company's line of business includes the retail sale of prescription drugs, proprietary drugs, and non-prescription medicines. Net operating income (prior to the expenses associated with the implementation of a new electronic medical record and the COVID-19 pandemic) was a $38.5 million loss compared to $44.1 million in the prior year. Find related and similar companies as … While Ballad Health has focused on improved financial performance, it has also continued to invest nearly $200 million in capital for new equipment, diagnostic technology, building improvements, information technology infrastructure and a common electronic health record. The administrative consolidation of Wellmont Health System and Mountain States Health Alliance resulted in the elimination of approximately 200 administrative positions. Recently, the mayor of Washington County, Tennessee, released data demonstrating that county employee healthcare costs have decreased due to efforts by Ballad Health to partner with the county and BlueCross BlueShield of Tennessee – resulting in a 10% decrease in healthcare costs and premiums for employees. The Virginia Department of Health agreed with the State of Tennessee's findings, citing, among other benefits, Ballad Health's increases in nursing salaries of more than $100 million over 10 years, "the implementation of multiple billing and charging policies to reduce the burden of health cost to the region's residents," Ballad Health's engagement in cost-reducing value-based programs, a majority of quality measures that demonstrate improvement and the likely financial jeopardy of several rural hospitals in Virginia existing prior to the creation of Ballad Health. ($ Million) Growth Rate (%) # Employees; 2019: Details in Premium Report: 2018: 2017: 2016: 2015: 2014: 1-Year Growth Rate: 3-Year Growth Rate (CAGR): Note: Ballad Health's revenues are gauged from an analysis of company filings. During the fourth quarter of the 2020 fiscal year, net patient revenue fell $139.1 million, a 26.8 percent decline from the same period during the previous year. These “hold” patients require staffing, which further strains the limited resources available. At times, when volumes expand, if there is not enough staff to safely manage the volume fluctuation, the hospital may go on diversion for that particular service, or patients who need a certain type of bed might be required to wait in the emergency department until such beds are available. During the year, Ballad Health invested in several initiatives beneficial to the region, including furthering its partnership with East Tennessee State University (ETSU) and its Quillen College of Medicine. As of June 30, 2020, Ballad Health had $1.375 billion in debt outstanding, an increase of $30.3 million over the prior year end. Find related and similar companies as … This data supports the finding by the NSI Nursing Solutions survey that indicated a breaking retirement wave, and it might also help explain why national nursing turnover is increasing to its highest levels in recent history. ER visits declined 3.8% to 432,394 visits. “Ballad Health has not been immune to the effects of the national nursing shortage, and no doubt this shortage is being felt throughout our system, both by our team members and by our patients,” said Lisa Smithgall, Ballad Health’s chief nursing executive. HQ Phone (423) 431-1700. During the fiscal year, Ballad Health was named by Forbes magazine as the 29th best employer in America for diversity, making the health system the highest-ranked employer overall in Tennessee and Virginia, as well as ranking it with Disney as a company committed to the strength of diversity. After the new health record implementation, additional expenses related to the pandemic and stimulus relief funds, net operating income was $18.9 million, compared to a prior year income of $36.5 million – a 48% decrease. Operating EBITDA of $205.9 million was $22.2 million, or 9.7%, below the prior year. During the quarter, Ballad Health reported it has successfully deployed the first phase of a more than $200 million technology conversion, bringing more than 80 care sites live on the new Epic electronic health record platform. Patient, and that will never be acceptable to us with patient revenue a! Region, Ballad Health intends to participate meaningfully in efforts to seek the relief. 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