Regional Medical Practice PC

“Polly cator is the sole shareholder of regional medical practice, p.c.”

“Before the 990 is submitted, it is made available to the board of directors for their review.”

“Regional medical practice, p.c. Enforces its conflict of interest policy requiring officers and directors to submit annual conflict of interest statements.”

“Cortland regional medical center, inc. (the hospital) has a compensation committee and they review the standards of performance for the key objectives and measure results. They also do the following: -consider factors involved in managerial effectiveness -consider any unanticipated responsibilities or special accomplishments -solicit performance evaluation from all board members -conduct a performance review of the ceo -determine the overall evaluation and award level -receive a performance review from the ceo for all other members of the executive management team and a summary of proposed salary and incentive awards salaries for regional medical practice p.c.'s physicians and mid-level providers are set based on national mgma specialty guidelines between the 25th and 50th percentiles.”

“Regional medical practice, p.c.'s 990 is available upon request.”

“Regional medical practice, p.c.'s governing documents, financial statement and conflict of interest policy are available to the public upon request.”

“Other: program service expenses 4,566,529. Management and general expenses 1,915,368. Fundraising expenses 0. Total expenses 6,481,897.”

“Equity transfer from affiliate 9,509,994.”

“Regional medical practice, p.c.'s financial statements are audited by an independent accountant. The independent accountant presents the audit to the finance committee and the full board of directors annually. This process has not changed from the prior years.”

“Regional medical practice, pc is a captive physician practice which has as its main purpose the provision of medical services, it appropriately noted on form 1023 that it is a hospital. The state of new york does not require captive physician practices to be licensed as a hospital. As a captive physician practice, regional medical practice, pc has as its principal purpose the provision of medical care. Accordingly, it was (i) properly identified as a "hospital" on form 1023; (ii) properly identified as a "hospital" on form 990 schedule a; and (iii) should not be designated as a "hospital/hospital facility" on form 990 schedule h.”