Commonwealth Regional Specialty

“Commonwealth regional specialty hospital is part of an integrated healthcare delivery system whose parent is commonwealth health corporation, inc. Compensation for all affiliates is overseen and coordinated through commonwealth health corporation. The entity uses independent consultants to annually review compensation. Compensation-related determinations are conducted in accordance with applicable requirements of the internal revenue code and regulations to qualify for the presumption that the compensation is reasonable, including but not limited to approval by an authorized committee of the board of directors who do not have a conflict of interest, obtaining and relying on appropriate data as to comparability, and concurrent documentation of the basis for the compensation determinations.”

“The corporation's articles of incorporation specify the corporation shall have one (1) member. The member shall be commonwealth health corporation, inc.”

“Bylaws of the corporation specify that the sole member shall appoint a nominating committee which shall meet and designate nominees for board directorships.”

“Form 990 is sent to board members via secure email. Each board member receives access to review the form prior to the designated filing date”

“The commonwealth health corporation (chc) (applicable to the corporation and/or its affiliates) code of conduct explicitly states members of the board administration, the medical staff and all employees are expected to avoid conflicts of interest. Further, it requires disclosure of any potential conflicts of interest in a timely manner. All individuals sign an acknowledgement upon employment that they have received a copy of the code of conduct, are familiar with its content and understand their responsibilities to avoid non-compliant activity. Chc's regulatory compliance and compensation committee (rcc) renews and approves all contracts between chc and/or its affiliates and disqualified entities. The review is designed to identify potential conflicts of interest by board members and/or officers. Rcc members are prohibited from taking part in decisions regarding transactions with which he/she has a conflict of interest. Annually, written inquiry is made by questionnaire of board members and officers seeking disclosure of conflicts of interest or information that relates to family members. Transactions arising are reviewed by management as they occur.”

“Governing documents, conflicts of interest policy and financial statements are only made available if requested, and in the manner required by a governing agency.”

“Commonwealth health corporation has a management services agreement for the following related organizations: bowling green-warren county community hospital corporation, the medical center at franklin, inc., the medical center at clinton county, inc., and commonwealth regional specialty hospital. All salaries and payroll taxes are reported on a consolidated form 941. The ein on the form 941 is 31-1118087.”

“COLLECTION AGENCY FEES - Total Expense: 4887, Program Service Expense: 4887, Management and General Expenses: 0, Fundraising Expenses: 0; EMPLOYEE SUPPORT FEES - Total Expense: 65405, Program Service Expense: 65405, Management and General Expenses: 0, Fundraising Expenses: 0; OTHER PROFESSIONAL FEES - Total Expense: 509137, Program Service Expense: 509137, Management and General Expenses: 0, Fundraising Expenses: 0; LAB FEES - Total Expense: 740, Program Service Expense: 740, Management and General Expenses: 0, Fundraising Expenses: 0; CONTRACT FEES - Total Expense: 171665, Program Service Expense: 171665, Management and General Expenses: 0, Fundraising Expenses: 0; BILLING FEES - Total Expense: 8400, Program Service Expense: 0, Management and General Expenses: 8400, Fundraising Expenses: 0; AGENCY NURSING FEES - Total Expense: 26390, Program Service Expense: 26390, Management and General Expenses: 0, Fundraising Expenses: 0; MEDICAL CONSULTING FEES - Total Expense: 50, Program Service Expense: 50, Management and General Expenses: 0, Fundraising Expenses: 0;”

“The board of directors assumes responsibility for oversight of the audit of the financial statements and selection of the independent accountant. No processes have changed from prior year.”

“Https://medcenterhealth.org/location/commonwealth-regional-specialty-hospital”