Overview
What is Healthcare Purchaser Alliance Of Maine?
The Healthcare Purchaser Alliance of Maine is a collaborative organization composed of private employers and public trusts, situated in Falmouth, Maine. With a mission to lower healthcare costs and enhance quality, the Alliance leverages collective action and innovative strategies. They utilize data to inform both employers and healthcare providers about variations in the quality and cost of care across Maine, supporting stakeholders in utilizing this data to enhance the value of care. Their offerings include group purchasing of prescriptions, a medical shopping tool to incentivize employees to select high-value providers, and various other programs designed to not only reduce healthcare costs but also encourage the use of high-value providers. Currently, the Alliance has a team of eight dedicated individuals working towards these goals.
Official website here: www.purchaseralliance.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77% (Three-Star out of Four Star rating)
The Healthcare Purchaser Alliance of Maine has received a three-star rating from Charity Navigator, indicating a solid level of accountability and finance. The overall score is derived exclusively from their impressive performance in accountability metrics, underscoring their commitment to financial integrity and transparency. The organization boasts a fully independent board, which is a significant strength, reflecting a commitment to governance practices that prioritize the interests of stakeholders.
In terms of financial management, the alliance has maintained a strong liability to asset ratio, suggesting good financial health and sustainability. Additionally, the charity has met all required policies, including conflict of interest and whistleblower protections, which further enhances its credibility. The high program expense ratio indicates that a substantial portion of their budget is directed towards fulfilling their mission rather than administrative costs.
However, while the organization shows strengths in accountability, the overall rating suggests there is room for improvement in their program expense ratio, which could enhance their effectiveness. Overall, the Healthcare Purchaser Alliance of Maine demonstrates a strong commitment to responsible management and transparency in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Healthcare Purchaser Alliance Of Maine legitimate?
Healthcare Purchaser Alliance Of Maine is a legitimate nonprofit organization registered as a 501(c)(3) entity. Healthcare Purchaser Alliance Of Maine submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $575,432
Professional Fundraising Fees: $0
Other Salaries and Wages: $277,562
For more financial information, click here
Official website here: www.purchaseralliance.org/
What is the mission statement of Healthcare Purchaser Alliance Of Maine?
The Healthcare Purchaser Alliance of Maine is a collaborative organization consisting of private employers and public trusts, dedicated to lowering healthcare costs and improving quality in innovative ways. Through collective action and strategic initiatives, the alliance empowers its members to drive changes in Maine's healthcare market. Utilizing data, the alliance informs employers and healthcare providers about variations in the quality and cost of care across Maine. This data is then used to improve the value of healthcare services, ultimately encouraging the use of high-value providers. The alliance has developed several programs for employers, including group purchasing of prescription drugs, medical shopping tools, and centers of excellence, among others, aimed at reducing healthcare costs and promoting the use of efficient healthcare providers.
Official website here: www.purchaseralliance.org/
Who is the CEO of Healthcare Purchaser Alliance Of Maine?
Peter Hayes is the Board Member of Healthcare Purchaser Alliance Of Maine. The CEO's salary of Healthcare Purchaser Alliance Of Maine is $149,602 and their total compensation is $168,606.
Official website here: www.purchaseralliance.org/
What is the revenue of Healthcare Purchaser Alliance Of Maine?
Healthcare Purchaser Alliance Of Maine's revenue in 2022 was $1,439,003.
Official website here: www.purchaseralliance.org/
Who are the executives of Healthcare Purchaser Alliance Of Maine and what are their salaries?
The average compensation at Healthcare Purchaser Alliance Of Maine during 2022 was $106,624. There are 8 employees and 11 volunteers at Healthcare Purchaser Alliance Of Maine.
Here are 15 key members and their salaries (Healthcare Purchaser Alliance Of Maine's CEO's salary is $149,602 and their total compensation is $168,606):
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- Compensation: $149,602
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- Other: $19,004
- Compensation: $132,108
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- Compensation: $121,298
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- Other: $6,080
- Compensation: $101,065
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- Other: $26,112
Official website here: www.purchaseralliance.org/
Where can I find the form 990 for Healthcare Purchaser Alliance Of Maine?
Healthcare Purchaser Alliance Of Maine's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.purchaseralliance.org/
Learn more at the official website: www.purchaseralliance.org/
Mission Statement of Healthcare Purchaser Alliance Of Maine
The Healthcare Purchaser Alliance of Maine is a collaborative entity comprised of private employers and public trusts, dedicated to lowering healthcare costs and improving quality in the state's market. Their mission is to drive change by employing collective and innovative strategies. Through data analysis, they aim to inform employers and providers about the variations in the quality and cost of care provided across Maine. By utilizing this data, they support stakeholders in improving the value of care provided. The Alliance has developed a range of programs for employers, including group purchasing of RX, a medical shopping tool to incentivize employees to choose high-value providers, Star Captive, Centers of Excellence, and several others. These initiatives not only help reduce healthcare costs for employers but also encourage employees to utilize high-value providers.
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Impact
July, 2024
The Healthcare Purchaser Alliance of Maine is dedicated to lowering healthcare costs and improving quality through collective action and innovative strategies. By using data to inform employers and providers about variations in the quality and cost of care provided across Maine, the Alliance supports these stakeholders in improving the value of care. Their programs for employers aim not only to reduce healthcare costs but also to encourage employees to utilize high-value providers. Program offerings include group purchasing of prescription drugs, a medical shopping tool to incentivize employees to choose high-value providers, STAR captive, centers of excellence, and others. Through collaborative efforts, the Alliance members are driving the change they want to see in Maine's healthcare market.
This information is meant to be a general summary of Healthcare Purchaser Alliance Of Maine. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $93,002
- Program Service Revenue: $661,488
- Gross Receipts: $1,439,003
Assets and Liabilities:
- Total Assets: $3,665,544
- Total Liabilities: $1,249,692
- Net Assets: $2,415,852
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DATA MEMBERSHIP DUES
Revenue
$544,880
DATA AND ANALYTIC SERV
Revenue
$67,301
PROGRAM REVENUE
Revenue
$37,938
EDUCATIONAL PROGRAMS
Revenue
$11,369
Organization Details
Founding Year
2006
Phone
(207) 844-8106Principal Officer
Peter Hayes
Main Address
366 US ROUTE 1 3, FALMOUTH, ME, 04105
Website
www.purchaseralliance.org/NTEE Category
Code: E01 - Health
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