Forty percent of Ballad Health’s revenue is attributable to inpatient services; of that revenue, 16% was attributed to commercially insured patients. Export. 2/13/2020 7:00 PM. 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 Health Revenue Est. Forty percent of Ballad Health’s revenue is attributable to inpatient services; of that revenue, 16% was attributed to commercially insured patients. Ballad Health has worked with physicians and payers to reduce the number of lower acuity admissions. The decision to go on diversion or hold patients in the ER is only made once it is determined the admission of additional patients would compromise patient safety. Ballad Health's CEOC is led by an incident commander appointed by the chief executive officer – in this instance, the chief operating officer. 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. ", Financial highlights for the quarter ended June 30, 2020. 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. ", "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. Ballad Health has received $200 million through the Medicare Accelerated and Advance Payment Program, provided to hospitals and health systems to assist with cash flow during the volume disruption caused by the required deferral of elective procedures. According to the United States government, there is a projected national shortfall of 800,000 nurses by the year 2020. That quarter ended with patient revenue … Data released from the National Council of State Boards of Nursing provides a sobering reminder of the looming challenges for meeting nursing workforce demands. Ballad Health recognized $82.5 million of income from the provider relief fund established by the CARES Act. Direct Phone (423) ***-**** Get Email Address Get Phone Number. Find related and similar companies as … 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.”. “We have taken, and continue to take, steps to alleviate this problem – a problem not created by Ballad Health, but certainly one we must deal with.”. 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. A $10 million annual investment into increasing direct patient care nursing wages, affecting nearly one-third of Ballad Health’s workforce. For instance, in Wise County, Virginia, the cross-coverage of physicians made possible by the merger has led to more stable staffing and an 18% increase in surgical volume. This phenomenon is not unique to Ballad Health and is experienced nationally. To put this investment into context, Ballad Health’s entire operating income in fiscal year 2018 was $9.9 million. Ballad Health invested $259.4 million into the region’s labor force. Additional recognized expenses resulting from the COVID-19 pandemic were $14.1 million. Among these measures, Ballad Health is now performing among the top 10% of hospitals in the nation in five of the measures. 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%). 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. ... read more about With Changes in State of Tennessee Vaccination Program, Ballad Health to Cease New Vaccinations for the Public in Tennessee. 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. View Ballad Health (www.balladhealth.org) location in Tennessee, United States , revenue, industry and description. Ballad Health salary trends based on salaries posted anonymously by Ballad Health employees. “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. Effective March 23, Ballad Health complied with the federal and state guidance to cease all non-emergent, elective procedures. Senior Vice President, Revenue Cycle Ballad Health Jun 2018 - Jun 2020 2 years 1 month. The total additional debt recognized as a result of the new accounting treatment as of June 30, 2020, was $30.6 million. Total debt outstanding consisted of fixed-rate serial, term, capital appreciation and revenue bonds; variable rate term bonds; variable rate equipment leasing; and capital lease obligations. Highlights of Ballad Health's contributions to the region. Thank you for subscribing! Highlights from Ballad Health's patient satisfaction surveys are also showing positive trends. Throughout the region, Ballad Health has also recruited neurology, orthopedics, pain management, hospitalists, psychiatry and other needed specialties. Specific examples include: Investments by Ballad Health also are beginning to generate benefits for the region. These savings have not only benefitted federal taxpayers; evidence shows area employers are benefitting from partnering with Ballad Health. This successful reduction, when combined with low population growth, reduces the overall volumes in the hospital setting. The recovery team is also charged with identifying various provisions of federal and state support intended to provide relief to hospitals and health systems. Don't have a Benzinga account? Due to the unknown duration or extent of the outbreak, Ballad Health is unable to predict when patient volumes will return to historically normal levels or predict the amount of COVID-19 related care it might ultimately provide. Inpatient surgeries declined 2.7% to 20,948. Ballad Health has guidelines for nurse-to-patient ratios that are appropriate and within the standards of the industry. The recent investment into physician leadership is demonstrative of Ballad Health’s determination to ensure this is a place where physicians want to practice.”. This is a deliberate strategy to ensure patient safety and protect nurses from being asked to routinely handle too many patients – something that can lead to patient harm and nurse burnout. EBITDA margin improved from 9.9% in the prior 12-month period to 12.5% in the current 12-month period. Last Update. By creating an account, you agree to theTerms of Service and acknowledge our Privacy Policy. “Our priority is exceptional patient care,” said Dr. Clay Runnels, chief physician executive of Ballad Health. The High Value-Care Collaborative is a joint project between the American Hospital Association, the American Board of Internal Medicine Foundation’s Choosing Wisely Campaign and the Costs of Care organization. Ballad Health has endeavored to eliminate unnecessarily duplicative services, as duplication spreads out nursing resources such that optimal staffing cannot be achieved. 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. JOHNSON CITY, Tenn. (WJHL) – Ballad Health has announced that up to 500 new jobs will be coming to the region. “Despite the national challenges faced by hospitals, including nursing shortages and the phenomenon of ‘ER boarding’ of patients in need of behavioral health services, Ballad Health’s operational performance has been demonstrably exceptional, as evidenced by objective performance measures,” said Alan Levine, chairman and chief executive officer of Ballad Health. A summary comparison and by the applicable Ballad Health provider, showing gross revenue and net revenue by Measured Payors 12 xxi. Operating income for the year improved to $36.5 million from $9.9 million in the same period prior year. This is intended to help improve quality of care and nursing satisfaction. ER visits declined 3.8% to 432,394 visits. Better integration in staffing models has led to more patients being treated in lower-cost settings in their home communities. The patients do not have medical conditions, but for a variety of reasons, they cannot be released. 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. All rights reserved. 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. “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. For purposes of transparency, financial results are reported with, and without, the impact of the CARES funds. 10 in Tennessee last year to No. 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. Learn about Ballad Health culture, salaries, benefits, work … 7 this year. Ballad Health was founded in 2016. And while Ballad’s board hasn’t even passed a budget for the year that started July 1, projections are even uglier this year. This misapplication of resources leads to suboptimal staffing and potentially more shortages. Everything you need to know about the market - quick & easy. "We honor those we serve by focusing on their safety and providing the best possible care.". Just a few examples of capital spending in the year included: Ballad Health will continue supporting local health departments as requested, and will continue supplementing efforts by the Virginia Department of Health. Creation of a new residential program for women who are pregnant and suffer from addiction. 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. Ballad Health is experiencing a surge in cases throughout the Appalachian Highlands region of Northeast Tennessee and Southwest Virginia. Revenue: Less than $1 million (USD) ... Ballad Health helps team members maintain a healthy work/ life balance by offering various support in the areas of team member benefits, career development, finance and helath. Access Tim's Contact Information . Ballad Health carries underlying ratings that consist of Fitch Ratings: "A," Standard & Poor's: "A-" and Moody's Investor Service: "Baa1," with positive outlook. 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. This is a clear benefit of the merger as opposed to the alternative. 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. 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. The numbers that drive the numbers The pandemic’s effects were about two weeks in when Ballad’s fourth quarter started April 1. This investment represents 100% of Ballad Health’s operating income from the last fiscal year. “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. 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.”. “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. This program is a best-practice model designed to provide less experienced nurses with mentorship and growth opportunity to expand their skills. Ballad Health cannot predict the impact of future government and administrative regulation and stimulus funding. Create one, JOHNSON CITY, Tenn., Aug. 12, 2020 (GLOBE NEWSWIRE) -- 8/12/2020. Ballad Health is an integrated healthcare delivery system serving 29 counties of Northeast Tennessee, Southwest Virginia, Northwestern North Carolina and Southeastern Kentucky. A single failure is a 100% failure rate for that patient, and that will never be acceptable to us. 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. Like most health systems, Ballad Health seeks to reduce the number of contract, or traveler, nurses. Reviews from Ballad Health employees about working as a Revenue Cycle Specialist at Ballad Health. Excluding stimulus funds, operating EBITDA was $123.4 million, and EBITDA was $163.8 million compared to a prior year of $228.1 million and $254.5 million respectively. The administrative consolidation of Wellmont Health System and Mountain States Health Alliance resulted in the elimination of approximately 200 administrative positions. Ballad Health today announced quality, investment and financial results from its first full fiscal year of operation as a combined system. 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. Several of the real estate transactions made by Ballad Health after Feb. 1, 2018, were intended to reduce the lease liability through conversion to ownership. Ballad Health continues to experience declining inpatient and hospital utilization rates, a phenomenon experienced throughout rural America. Operating EBITDA of $205.9 million was $22.2 million, or 9.7%, below the prior year. "The patient satisfaction journey is one that never ends," Levine said. “Our improved financial performance is positive proof that by reducing lower acuity admissions and working with our payers across Medicare, Medicaid and commercial lines of services, we can reduce the cost of care for employers and consumers. 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. The numbers that drive the numbers The pandemic’s effects were about two weeks in when Ballad’s fourth quarter started April 1. By focusing on reducing unnecessary duplication in cost, we can be stronger financially as we continue to see a decline in inpatient utilization.”. "Rural hospitals and health systems all over the nation continue to struggle, and Ballad Health, as a regional system, continues to work hard to provide high-quality care to a rural region that likely would have faced the same loss of hospitals and access other rural communities have faced.". 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. 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. 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. 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. 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. 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. The company's line of business includes the retail sale of prescription drugs, proprietary drugs, and non-prescription medicines. Location. 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. In partnership with physicians and clinical staff, Ballad Health has seen a focused effort on quality improvement significantly benefit patients. New major capital spending was limited in the fourth quarter, with the onset of the financial impact of the pandemic. Ballad Health reports annual results: high-ranking hospitals in quality, strong financial performance and significant investment in region, about With Changes in State of Tennessee Vaccination Program, Ballad Health to Cease New Vaccinations for the Public in Tennessee, about Ballad Health, Appalachian School of Law and Virginia Tech create Medical-Legal Partnership. View Ballad Health (www.balladhealth.org) location in Tennessee, United States , revenue, industry and description. 137 Ballad Health reviews. 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. Five new digital mammography systems 3. The chief executive officer has appointed a recovery team, led by the chief administrative officer, to work in partnership with physicians, operations and clinical leadership for managing the resumption and capacity of services. Total debt outstanding increased, due to the adoption of the Accounting Standards Update No. 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. We offer our team members market-competitive pay and benefits, flexible work schedules, a wide variety of development and growth opporutunities, and a challengeing … The health system recognizes its nurses often care for a high volume of patients, and it continues to work with its colleagues in the healthcare industry to seek solutions to the shortages, which have disproportionally affected rural and non-urban communities across America. Revenues for the 12 months ended June 30, 2020, totaled $1.993 billion, compared to $2.104 billion in the same period of 2019. 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. Copyright ©2019 Ballad Health. On many days, Ballad Health is holding more than 60 patients in emergency departments, while resources are identified in the community to provide assistance. A company that handles appointments and billing for health systems announced Thursday it will build a regional center to serve Ballad Health and other hospitals, and in doing so will "We appreciate, perhaps at this time more than ever, the important role Ballad Health plays in helping TDH fulfill its mission: to protect, promote and improve the health and prosperity of people in Tennessee.". Vice President, Revenue Cycle Ballad Health Feb 2018 - Jun 2018 5 months. 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. Based on feedback from nursing staff, Ballad Health has implemented an updated and more robust clinical nursing ladder program. 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. Many of the steps being taken by Ballad Health are the results of this feedback. Average salaries for Ballad Health Revenue Cycle Director: $92,395. Reduction in pricing for physician practices and urgent care an average of 17%, plus an increase in the discounts for people without insurance to 77%. Or publicly release revisions to these forward-looking statements in light of new information or events. Health is required to maintain 100 days cash on hand statements in light of new or! The limited resources available in each State, less than 30 % of all hospitals any. Our Privacy Policy who are pregnant and suffer from addiction Franklin Rd, Johnson,. Experienced nationally been, and non-prescription medicines the closing of the COVID‐19 pandemic Cycle Director: $ 92,395 of between! Best employers in Tennessee, fewer job losses resulted from the merger, Ballad Health ’ operating... A few examples of capital spending in the region, Ballad Health ’ s operating! 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