Overview
What is Medical Financial Services Inc?
Medical Financial Services Inc, based in Memphis, Tennessee, serves as a collection agency for Baptist Memorial Health Care Corporation's owned or managed facilities in the Memphis metropolitan area. Their mission is to offer comprehensive accounts receivable management and collection services at a cost-effective rate, while maintaining a collaborative spirit with their clients. By outsourcing their collection needs to Medical Financial Services Inc, hospitals within the Baptist Memorial Health Care System can reinvest their savings into improving the quality and lowering the cost of healthcare in their served communities, in line with the overall mission of Baptist Memorial Health Care Corporation. With a workforce of 28 employees, Medical Financial Services Inc operates with a Christian influence and compassion.
Official website here: www.medfinsrvcs.com/
Is Medical Financial Services Inc legitimate?
Medical Financial Services Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Medical Financial Services 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: $129,943
Professional Fundraising Fees: $0
Other Salaries and Wages: $687,979
For more financial information, click here
Official website here: www.medfinsrvcs.com/
What is the mission statement of Medical Financial Services Inc?
Medical Financial Services Inc's mission revolves around providing comprehensive accounts receivable management and collection services in a cost-effective manner. They strive to work collaboratively with their clients and conduct their activities with a Christian influence and compassion, aligning with the overall mission of their client, Baptist Memorial Health Care Corporation. Their services aim to benefit all clients, promoting financial efficiency and positive relationships.
Official website here: www.medfinsrvcs.com/
Who is the CEO of Medical Financial Services Inc?
Jason M Little is the President/Director of Medical Financial Services Inc.
Official website here: www.medfinsrvcs.com/
What is the revenue of Medical Financial Services Inc?
Medical Financial Services Inc's revenue in 2022 was $1,425,739.
Official website here: www.medfinsrvcs.com/
Who are the executives of Medical Financial Services Inc and what are their salaries?
The average compensation at Medical Financial Services Inc during 2022 was $29,212. There are 28 employees at Medical Financial Services Inc.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $3,403,662
- Other: $97,789
- Compensation: $0
- Related: $2,006,787
- Other: $84,638
- Compensation: $0
- Related: $1,562,524
- Other: $80,090
- Compensation: $0
- Related: $1,517,815
- Other: $64,834
- Compensation: $122,277
- Related: $0
- Other: $41,523
Official website here: www.medfinsrvcs.com/
Where can I find the form 990 for Medical Financial Services Inc?
Medical Financial Services Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.medfinsrvcs.com/
Learn more at the official website: www.medfinsrvcs.com/
Mission Statement of Medical Financial Services Inc
Medical Financial Services Inc, with a mission driven by Christian influence and compassion, aims to provide a comprehensive range of accounts receivable management and collection services to its clients. The company is committed to delivering these services in a cost-effective manner, demonstrating a collaborative spirit in its interactions with all clients. Medical Financial Services Inc operates under the umbrella of Baptist Memorial Health Care Corporation, and its mission aligns with the broader objectives of this organization. The company's approach is to conduct its activities in a manner that reflects the overall mission of Baptist Memorial Health Care Corporation.
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Impact
October, 2024
Medical Financial Services Inc significantly impacts the healthcare landscape in the Memphis metro area by providing efficient collection services for Baptist Memorial Health Care Corporation's facilities. By handling accounts receivable management, the organization alleviates the burden on in-house personnel, allowing healthcare providers to focus more on patient care. This streamlined approach not only enhances operational efficiency but also reduces costs associated with collection processes compared to for-profit agencies.
The savings generated from these services can be reinvested into the hospitals, directly contributing to improvements in healthcare quality and affordability for the communities they serve. Additionally, Medical Financial Services operates under a mission infused with Christian values, promoting a culture of compassion and collaboration. This commitment ensures that financial management is synchronized with the overall goal of providing excellent patient care, ultimately enhancing the well-being of individuals and families in the Memphis area.
This information is meant to be a general summary of Medical Financial Services 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 2022.
- Program Service Revenue: $1,425,739
- Gross Receipts: $1,425,739
Assets and Liabilities:
- Total Assets: $6,087,395
- Total Liabilities: $585,044
- Net Assets: $5,502,351
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COLLECTIONS COMMISSION
Revenue
$1,425,739
Organization Details
Founding Year
1982
Phone
(901) 821-7163Principal Officer
Jason M Little
Main Address
350 N HUMPHREYS BLVD, MEMPHIS, TN, 38120
Website
www.medfinsrvcs.com/NTEE Category
Code: E21Z - Health
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