Central Vermont Medical Center Inc

“Form 990, part iii, line 1 central vermont medical center is the primary health care provider serving more than 66,000 people who live, and work, and play in the 26 communities of central vermont. Central vermont medical center hospital provides 24-hour emergency care, with a full spectrum of inpatient (licensed for 122 beds) and outpatient services, close to home. Central vermont medical center named one of the nation's top 100 rural & community hospitals by the national rural health association (nrha). Top 100 rural community hospitals are those achieving success in overall performance based on a composite rating from eight indicators of strength - inpatient market share, outpatient market share, quality, outcomes, patient perspectives, costs, charges and financial stability. In addition, central vermont medical center received the american heart association's get with the guidelines-resuscitation silver quality achievement award. This award acknowledges cvmc's dedication to improving survival rates for in-hospital cardiac arrest patients by consistently following the latest research-based treatment guidelines. These guidelines focus on patient safety, timely medical emergency team response, effective cpr, and comprehensive post-resuscitation care. The central vermont medical center professional staff includes over 175 physicians and 90 advanced practice providers representing 25 medical specialties. Central vermont medical center's woodridge rehabilitation and nursing is a long-term and short-term facility on our main campus licensed for 153 skilled nursing beds. Combined as central vermont medical center (hospital, 28 medical practices, and woodridge rehabilitation and nursing) are a critical source of high quality care, close to home. With over 1,700 employees (from washington, orange, lamoille, chittenden counties and more), central vermont medical center is the largest private employer in central vermont.”

“Form 990, part vi, line 2 there is a business relationship between dr. Sunil eappen, officer of the university of vermont medical center (uvmmc), dr. Ryan clouser, an officer of cvmc, dr. Anna hankins, a trustee of cvmc, and dr. Scott (robert) nelson, an officer of cvmc.”

“Form 990, Part VI, Line 6 THE UNIVERSITY OF VERMONT HEALTH NETWORK IS THE SOLE MEMBER AND PARENT CORPORATION OF CENTRAL VERMONT MEDICAL CENTER, INC. (CVMC). THE UNIVERSITY OF VERMONT HEALTH NETWORK IS A VERMONT NON-PROFIT CORPORATION WHICH HAS BEEN RECOGNIZED BY THE IRS AS A 501(C)(3) ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION.”

“Form 990, part vi, line 7a & 7b the university of vermont health network holds the power to elect cvmc's board of trustees and to approve significant corporate actions, including annual operating and capital budgets, strategic plans, the appointment of the president/coo, the incurrence of long-term indebtedness, and amendments to cvmc's bylaws and articles of organization.”

“Form 990, part vi, line 11b the form 990 is prepared by the accounting manager and reviewed in detail by cvmc's outside tax advisors before being reviewed by the officers of the corporation and by the other members of the senior management team. The accounting manager provides regulatory updates regarding the form 990 to the executive committee and makes available to the executive committee the form 990 along with highlights of all significant parts of the form 990. The completed form 990 is provided to all members of the board of trustees prior to the form being filed with the irs.”

“Form 990, part vi, line 12c the organization regularly monitors and enforces compliance with the uvm health network's (uvmhn) conflict of interest policy, which it has adopted. In accordance with the policy, trustees, officers, key employees and physicians are required to complete a conflict of interest disclosure and certification upon hiring, at least annually, prior to participating in any decision that may be affected by a personal interest, and whenever a potentially conflicting interest first arises. Conflict of interest disclosures and certifications are regularly reviewed by the general counsel. The conflict of interest policy is enforced by the office of general counsel and overseen by a five-person conflict of interest committee. The general counsel reports at least quarterly on conflict of interest issues to the audit committee of the board of trustees. Conflicts of interest are managed in accordance with the policy, which provides for a variety of remedies to address conflicts of interest. In addition, "disqualified persons", consisting of trustees, officers and key employees are subject to special procedures to comply with the intermediate sanction rules, as outlined in the conflict of interest policy. Remedies to address conflicts of interest may include the following: recusal from decision making, disclosure to appropriate parties, committee participation limits and requested divestiture. An appeals process exists should the individual request a secondary review be performed.”

“Form 990, part vi, lines 13 & 14 the organization regularly monitors and enforces compliance with the uvm health network's conflict of interest policy, which it has adopted. In accordance with the policy, trustees, officers, key employees and physicians are required to complete a conflict of interest disclosure and certification upon hiring, at least annually, prior to participating in any decision that may be affected by a personal interest, and whenever a potentially conflicting interest first arises. Conflict of interest disclosures and certifications may be made online or in writing and are regularly reviewed by the general counsel. The conflict of interest policy is enforced by the office of general counsel and overseen by a five-person conflict of interest committee. The general counsel reports at least quarterly on conflict of interest issues to the audit committee of the board of trustees. Conflicts of interest are managed in accordance with the policy, which provides for a variety of remedies to address conflicts of interest. In addition, "disqualified persons", consisting of trustees, officers and key employees are subject to special procedures to comply with the intermediate sanction rules, as outlined in the conflict of interest policy. Remedies to address conflicts of interest may include the following: recusal from decision making, disclosure to appropriate parties, committee participation limits and requested divestiture. An appeals process exists should the individual request a secondary review be performed.”

“Form 990, part vi, lines 15a & 15b the process for determining compensation for the organization's president/coo is handled by the uvm health network (uvmhn) compensation committee. The committee meets annually and utilizes survey data to make a total compensation recommendation. If necessary, the uvmhn compensation committee will engage with an independent consulting firm, integrated healthcare strategies (ihs)/gallager, with national expertise in health care compensation. The uvmhn compensation committee recommends and approves the compensation. An analysis is performed annually by the uvmhn compensation comittee to evaluate cvmc senior leadership compensation. Recommendations are reviewed by the president and the executive committee of the cvmc board of trustees. Market study data comes from, but is not limited to, willis towers watson, mercer, gallagher, and sullivan cotter. The compensation of other key employees of the organization is determined through market study analysis performed by the uvmhn compensation committee.”

“FORM 990, PART VI, LINE 19 THE ORGANIZATION MAKES AVAILABLE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS TO THE GENERAL PUBLIC UPON REQUEST. THE FINANCIAL STATEMENTS OF THE ORGANIZATION FOR FY2023 CAN ALSO BE FOUND ON THE WEBSITE, https://www.cvmc.org/about-cvmc/reports-and-publications”

“Form 990, part vii three physicians serving as board members, dr. Clouser, dr. Hankins, and dr. Nelson, receive compensation from a related organization (uvmmg) for their services as physicians. This compensation is not related to their participation as members of the board of trustees.”

“Form 990, part xi, line 9 other changes in net assets or fund balances: change in minimum pension liability $ 14,332,600 transfer of net assets 1,591,230 assets released from capital 25,125 other changes of net assets with donor restrictions 1,841,228 ------------------------------------------------------------------------- total: $ 17,790,183”

“Form 990, part xii, line 3b: during fy24, cvmc did not reach the level required to warrant an audit under omb circular a-133. However, because of cvmc's affiliation with the university of vermont health network, cvmc was included in the a-133 which was performed for the university of vermont medical center.”

“Form 990, Part VI, Line 4 EFFECTIVE JANUARY 1, 2024, THE BYLAWS FOR THE CENTRAL VERMONT MEDICAL CENTER ("CVMC") WERE AMENDED IN CONNECTION WITH A NETWORK-WIDE EFFORT TO PROMOTE EFFICIENCY AND STANDARDIZATION IN THE DELIVERY OF MEDICAL SERVICES THROUGH THE CREATION OF A SINGLE, UNIFIED MEDICAL STAFF (THE "MEDICAL STAFF"). THE AMENDMENTS REMOVE PROVISIONS IN THE BYLAWS RELATING TO THE ADMINISTRATION OF SEPARATE MEDICAL STAFF, INCLUDING PROVISIONS GRANTING THE BOARD OF TRUSTEES AUTHORITY TO APPROVE MEDICAL STAFF AND CREDENTIALS. IN THE PLACE OF THESE PROVISIONS, ADDITIONAL PROVISIONS WERE ADDED RELATING TO THE ADMINISTRATION OF A CAMPUS ADVISORY COMMITTEE OF THE MEDICAL STAFF. THE CHAIR OF THE CAMPUS ADVISORY COMMITTEE SHALL SERVE EX OFFICIO, WITH VOTE, ON THE BOARD OF TRUSTEES.”

“Description:other purchased services total fees:44237247”