Vermont Business Magazine The University of Vermont Medical Center today released its Form 990 for fiscal year 2017. The annual filing, which is required for all nonprofit organizations, includes information about community benefit investments and other details about the UVM Medical Center’s governance. The form includes revenue and expense figures, compensation of top wage earners and provides a glimpse into the organization’s work to fulfill its mission as the region’s only academic medical center, Level 1 trauma center, children’s hospital and the community hospital for Chittenden and Grand Isle Counties.
In FY 2017, the UVM Medical Center’s community benefits totaled $193 million – up approximately $20 million from FY 2016 – and includes free care, grants to community organizations, and underpayments in Medicaid and other programs. This represents approximately 16.2% of total expenses.
Total revenue was $1,320 million, up about $32 million ($1,288 million).
“The information released today includes an accounting of much of the work we do and the investments we make in our community to ensure all of our patients and families have access to care,” said Scottie Emery-Ginn, chair, University of Vermont Health Network Board of Trustees. “We are committed to transparency as part of our mission to provide high quality, affordable health care to our community.”
As part of the filing, organizations are also required to disclose the salaries of officers, directors, key employees, and other highly compensated employees. The highest compensated employee is John Brumsted, MD, CEO of the UVM Medical Center and president and CEO of the UVM Health Network.
Brumsted's base salary, set by the UVM Health Network Board of Trustees, is $1,024,108. The hospital said in a statement that this is approximately the midpoint of salaries for health care executives with similar responsibilities, and a 4.6 percent increase over the previous year. Total compensation for calendar year 2016 is approximately $2.1 million and includes incentives, health insurance, disability insurance, and retirement benefits. This is down from $2.2 million the previous year ($2,100,191 vs $2,186,275).
UVMMC President and COO Eileen Whalen, who has been leading management in negotiating a new contract with the nurses union, made a total of $1,062,462 ($866,693 previous year).
Compensation has been a significant issue in the nurses negotiations. Nurses want a new contract with a significant increase in wages. Nurses maintain they are not compensated at the level of nurses at similar hospitals, while, in contrast, upper management is compensated at competitive levels.
Nurses have asked for a 23 percent raise over three years, while the hospital has countered with an average 13 percent increase. The difference for RNs, for instance, would result in an average wage of about $84,000 under the hospital's proposal and $92,000 under the union's.
“Our approach is to compensate employees at all levels of the organization fairly, using benchmarks and market analysis to hire and retain the best people possible,” Emery-Ginn said. “John continues to provide great leadership ensuring the organization can balance the need to be financially strong, offer competitive wages to all, and carry out its mission of improving the lives of the people we serve through important community benefit programs.”
The fiscal year reported ended September 30, 2017.
Form 990 first page and compensation tables:
About the University of Vermont Medical Center
The University of Vermont Medical Center is a 447-bed tertiary care regional referral center providing advanced care to approximately 1 million residents in Vermont and northern New York. The University of Vermont Medical Center also serves as a community hospital for approximately 150,000 residents in Chittenden and Grand Isle counties.
The University of Vermont Medical Center is a member of The University of Vermont Health Network.
For more information visit www.UVMHealth.org/MedCenter
Source: The University of Vermont Medical Center 8.15.2018