Somc Medical Group PC

“Form 990, part iii, line 1 - organization's missionthe organization will further the charitable and healthcare purposes of hackensack meridian health, inc. And its tax-exempt affiliates described in section 501(c)(3) by (1) providing medically necessary healthcare services directly to patients through the physicians employed by a related corporation and (2) providing administrative, supervisory, teaching, coverage and research services to meridian hospitals corporation; a related internal revenue code section 501(c)(3) tax-exempt organization, in furtherance of its primary tax-exempt purpose in providing medically necessary healthcare services to all individuals in a non-discriminatory manner regardless of race, color, creed, sex, national origin, religion or ability to pay. Accordingly, the organization is an integral part of hackensack meridian health.”

“Message to the communityat hackensack meridian health, we recognize that the care we provide through our hospitals, nursing homes and other healthcare entities (e.g., hackensack meridian home care services, inc.) reaches far beyond the boundaries of our facilities. Our mission to improve the health status of the communities we serve is at the heart of our charitable roots. Even as we face growing economic pressures - the lack of adequate state and federal reimbursement, and increasing costs of pharmaceuticals and technology - we remain committed to ensuring that the residents of monmouth and ocean counties stay well through better health and education. Caring for all members of the community as a not-for-profit healthcare provider, hackensack meridian health is the regional leader in providing innovative and accessible healthcare programs and services to individuals, families, and communities throughout new jersey. Everyone deserves access to quality healthcare, regardless of their ability to pay. For people who are unable to pay for medical care, hackensack meridian health provides free or discounted services. In 2016, meridian health provided $158 million in charity care and other uncompensated care, serving as the healthcare safety net for our community's most vulnerable populations. In addition, hackensack meridian health dedicated more than $31.8 million in subsidizing vital health services such as outpatient dialysis, behavioral health services, and family health clinics. Hackensack meridian health's 2016 community benefit report can be found online at www.hackensackmeridianhealth.org or upon request through any of hackensack meridian health's facilities.”

“Core form, part vi, section a; question 6there exists a shareholder control agreement wherein the shareholder of the organization has delegated certain reserved powers to hackensack meridian health, inc., a tax-exempt integrated healthcare delivery network (which includes this organization) including electing, appointing and removal of the directors and officers of the organization.”

“Core form, part vi, section a; question 7asee response to part vi, question 6 above.”

“Core form, part vi, section a; question 7bsee response to part vi, question 6 above.”

“Core form, part vi, section a; question 8bplease note that the organization did not have any committees acting on behalf of the governing body during the year. However, had there been any committees, the meetings would have been documented.”

“Core form, part vi, section b; question 11bthe organization is an affiliate in the hackensack meridian health network ("network"); a tax-exempt integrated healthcare delivery network. The organization's finance personnel prepared and reviewed the federal form 990. The organization's federal form 990 was then provided to and made available to each voting member of the organization's governing body, its board of trustees, prior to filing of the federal form 990 with the internal revenue service.”

“Core form, part vi, section b; question 12chackensack meridian health, inc., the tax-exempt parent organization of hackensack meridian health, a tax-exempt integrated health care delivery network, has adopted a network-wide conflict of interest policy which is applicable to all of its subsidiary organizations. The organizations regularly monitor and enforce compliance with the network's conflict of interest policy. Annually, all members of the board of trustees, officers and key employees of each organization are required to review the existing conflict of interest policy and complete a questionnaire with respect to any applicable transactions and relationships. The completed questionnaires are returned to the network's general counsel for review. General counsel then prepares a summary of the completed questionnaires, and presents the summary to the network's governance and board development committee for its review, discussion and action (if needed). During the year, general counsel also monitors on-going transactions in light of the summary to ensure that any potential conflicts of interest are appropriately handled in compliance with the policy. Although this organization is not a subsidiary, its board of trustee members are employed by subsidiaries of hackensack meridian health, inc. And are bound by the policy described above.”

“Core form, part vi, section b; question 15areasonable compensation is determined by 1) a review of the physician's background and experience, including education, professional and administrative qualifications, research projects, publications, and community activities; 2) assigned responsibilities and administrative and clinical work volumes including off-hours on-call coverage; 3) the results of the physician's annual performance review, which is conducted by the president of each professional corporation and where relevant, the physician's supervisor; and 4) market demand for the physicians in the particular specialty. Then, a comparison of physician compensation to national benchmarks for physicians in similar positions is done. Compensation is benchmarked with widely used industry standards and surveys, including those published by medical group management association and sullivan cotter and associates. The physician's position and proposed compensation, the comparability data relating to his or her medical specialty, opinions from compensation consultants, and any other information deemed relevant for all new physicians and for changes in compensation for existing physicians are reviewed by a committee of hackensack meridian health, inc., to confirm fair market value and commercial reasonableness. If a physician's recommended annual total cash compensation falls above the 75th percentile on the benchmark review or is $500,000 or more, an additional level of review is completed by the physician compensation subcommittee of the executive compensation committee of the board of trustees of hackensack meridian health to determine what, if any, additional factors may justify a higher salary, such as an individual's clinical productivity as measured by work relative value units, and whether the compensation paid reflects fair market value and is commercially reasonable. This additional review process may include retaining sullivan cotter and associates, inc., a professional compensation consultant, to provide an opinion on the fairness and reasonableness of such compensation. Thus, the exempt entity, hackensack meridian health, inc., controls the compensation paid to physicians pursuant to this process.”

“Core form, part vi, section b; question 15bsee response to part vi, question 15a above.”

“Core form, part vi, section c; question 19the organization's filed certificate of incorporation and any amendments can be obtained and reviewed through the state of new jersey department of the treasury.”

“Core form, part vii and schedule jpart vii and schedule j reflect certain board members and officers receiving compensation and benefits from a related organization. Please note this remuneration was for services rendered as full-time employees of a related organization and not for services rendered as a voting member or officer of this organization's board of directors.”

“Core form, part ix, line 11gleased practice expense; $5,775,202”

“Core form, part xii; question 2pricewaterhouse coopers, l.l.p. Audited the consolidated financial statements of hackensack meridian health, inc. For the six month period ended december 31, 2016, including this organization. Pricewaterhouse coopers, l.l.p. Issued an unqualified opinion with respect to the audited consolidated financial statements. The hackensack meridian health, inc. Compliance and audit committee has assumed responsibility for the oversight of the audit of the consolidated financial statements, which includes this organization, and the selection of an independent auditor.”