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WakeMed's value to the community is significant and is measured in numerous ways - by the amount of charity care provided; the unreimbursed costs incurred to care for Medicare and Medicaid patients; and the value of our outreach activities, volunteer services, and program support. Reporting these efforts and quantifying their impact is critically important.
Today, more than ever before, we are being called upon by many to be more accountable and transparent about what we are doing for our community. We are pleased to report it publicly so that we clearly demonstrate how WakeMed, as a not-for-profit organization, is fulfilling its mission of community service and meeting its charitable tax-exempt purpose.
Provisions in the Affordable Care Act (ACA) require charitable hospitals like WakeMed Health & Hospitals to conduct a community health needs assessment every three years, and adopt implementation strategies to meet the health needs identified through the assessment.
WakeMed, the county and other community organizations are currently all working together to measure how well Wake County residents are. After we measure wellness, we will create a report and develop an action plan to address the major health and community issues in our county.
Total Cost of Uncompensated Care Provided Including Charity, Medicare, Medicaid and Bad Debt
Health Professions Education
Community Education, Health Improvement, Outreach and Contributions
TOTAL DIRECT COMMUNITY BENEFIT
Unreimbursed Cost of treating Charity Care patients
Unreimbursed costs of treating Medicare patients
Unreimbursed costs of treating Medicaid patients*
Other Government Program Losses
*Note - Medicaid losses are significantly lower than previous years due to receipt of funds from the North Carolina Medicaid Provider Assessment fund.
WakeMed categorizes charity care as care given to patients who have no third party coverage of any kind and are at poverty levels which prohibit them from paying for their care. Unreimbursed cost of treating Medicare and Medicaid patients is the difference between government reimbursement and the hospital's actual cost to provide that care. Bad debt is primarily comprised of the charges for care for those patients who have some type of third party coverage but are unable to pay their co-pays and deductibles. (Guidelines developed by the VHA and the Catholic Health Association, as well as the North Carolina Hospital Association (NCHA) are used in the calculation and data collection for this report.)
3000 New Bern Ave.
Raleigh, NC 27610