Overview
What is Institute For Healthcare Optimization Inc?
The Institute for Healthcare Optimization Inc is a nonprofit organization with a mission to enhance the healthcare delivery system. They strive to accomplish this by disseminating the use of operations management techniques and patient flow variability management across the broader hospital community. The primary aim is to improve the efficiency and effectiveness of healthcare services, ultimately benefiting patients and healthcare providers alike.
Official website here: www.ihoptimize.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The Institute For Healthcare Optimization Inc has received a Two-Star out of Four Star rating from Charity Navigator, with an overall score of 74%. This rating indicates that while the organization demonstrates some strengths in areas such as accountability and finance, there are significant concerns that need to be addressed to improve its standing.
One of the notable strengths is the organization's high program expense ratio of 84.24%, which shows that a substantial portion of its expenses is directed toward its programs. Additionally, the board of directors exhibits a strong independent structure, with 66% of its members being independent. This is complemented by effective policies related to conflict of interest and whistleblower protections, which are in place to enhance governance.
However, limitations are evident in the financial health of the organization, particularly highlighted by a liabilities to assets ratio of 113.53%, indicating potential financial instability. Additionally, the absence of the organization's tax form on its website and a lack of independent board members contribute to the overall "Needs Improvement" rating. Addressing these issues will be crucial for enhancing the organization's accountability and financial health in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Institute For Healthcare Optimization Inc legitimate?
Institute For Healthcare Optimization Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Institute For Healthcare Optimization Inc 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: $1,241,168
Professional Fundraising Fees: $0
Other Salaries and Wages: $473,804
For more financial information, click here
Official website here: www.ihoptimize.org
What is the mission statement of Institute For Healthcare Optimization Inc?
The Institute for Healthcare Optimization Inc's mission is to stimulate and facilitate the widespread adoption of operations management and patient flow variability management techniques within the broader hospital community. Their goal is to act as a catalyst, offering resources and tools to help improve the healthcare delivery system. By doing so, they aim to enhance the efficiency and effectiveness of hospital operations, ultimately leading to better patient care.
Official website here: www.ihoptimize.org
What is the revenue of Institute For Healthcare Optimization Inc?
Institute For Healthcare Optimization Inc's revenue in 2024 was $2,861,074.
Official website here: www.ihoptimize.org
Who are the executives of Institute For Healthcare Optimization Inc and what are their salaries?
The average compensation at Institute For Healthcare Optimization Inc during 2024 was $131,921. There are 13 employees at Institute For Healthcare Optimization Inc.
Here are 8 key members and their salaries:
- Compensation: $624,477
- Related: $0
- Other: $25,349
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $131,583
- Related: $0
- Other: $2,445
- Compensation: $245,516
- Related: $0
- Other: $1,059
- Compensation: $117,206
- Related: $0
- Other: $1,204
- Compensation: $223,345
- Related: $0
- Other: $27,827
- Compensation: $100,109
- Related: $0
- Other: $2,056
Official website here: www.ihoptimize.org
Where can I find the form 990 for Institute For Healthcare Optimization Inc?
Institute For Healthcare Optimization Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.ihoptimize.org
Learn more at the official website: www.ihoptimize.org
Mission Statement of Institute For Healthcare Optimization Inc
The Institute for Healthcare Optimization Inc is dedicated to enhancing the healthcare delivery system by employing principles from operations management. Their primary objective is to act as a motivator and offer a platform for the widespread adoption of operations management techniques and patient flow variability management strategies within the broader hospital community. The organization aims to serve as a catalyst, promoting the implementation of these methodologies to improve efficiency and effectiveness in healthcare facilities.
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Impact
October, 2024
Institute For Healthcare Optimization Inc significantly enhances the healthcare delivery system by implementing advanced operations management techniques. Its mission focuses on acting as a catalyst for change within the hospital community, effectively spreading the application of patient flow and variability management strategies. By doing so, the Institute aims to improve efficiency, reduce wait times, and enhance overall patient care quality. Based in Bedford, MA, it plays a crucial role in optimizing how healthcare systems operate, ultimately benefiting patients and healthcare providers alike. The emphasis on operations management strategies helps hospitals address complex challenges, leading to better health outcomes and streamlined services across the sector.
This information is meant to be a general summary of Institute For Healthcare Optimization Inc. 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 2024.
- Investment Income: $301
- Gross Receipts: $2,861,074
Assets and Liabilities:
- Total Assets: $196,720
- Total Liabilities: $168,945
- Net Assets: $27,775
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Organization Details
Founding Year
2009
Principal Officer
Eugene Litvak
Website
www.ihoptimize.orgNTEE Category
Code: G05 - Disease
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