Children's Minnesota Company Profile

Background

Children's Minnesota is a leading independent, non-profit pediatric health system based in Minnesota, dedicated exclusively to the health care needs of children from birth through young adulthood. Established in 1924, the organization has grown into one of the largest freestanding pediatric health systems in the United States, operating two hospitals, nine primary care clinics, seven rehabilitation sites, and nine specialty care sites.

Mission: To champion the health needs of children and families by providing the highest-quality, family-centered care, advanced through research and education.

Vision: To be every family's essential partner in raising healthier children, not only during illnesses or injuries but throughout childhood.

Key Strategic Focus

Children's Minnesota focuses on delivering comprehensive pediatric care across more than 60 specialties, including cardiology, oncology, and neonatology. The organization emphasizes:

• Family-Centered Care: Engaging families as active participants in the health care team.

• Community Engagement: Collaborating with community partners to address social determinants of health.

• Innovation: Implementing cutting-edge technologies and research to improve pediatric health outcomes.

Financials and Funding

In the fiscal year ending December 2023, Children's Minnesota reported:

• Revenue: $1,138,461,020

• Expenses: $1,124,141,546

• Net Income: $14,319,474

• Net Assets: $1,315,749,082

Notable sources of revenue included:

• Program Services: $1,053,511,267 (92.5% of total revenue)

• Contributions: $34,777,014 (3.1% of total revenue)

• Investment Income: $45,866,203 (4.0% of total revenue)

Pipeline Development

Children's Minnesota continually advances pediatric care through various initiatives:

• Heart Transplant Program: Certified by the Center for Medicare and Medicaid Services (CMS) in 2021, offering comprehensive cardiology services, including ventricular assist device (VAD) therapies as a bridge-to-transplant.

• Neurosurgery Innovations: Implemented a pediatric hybrid intraoperative magnetic resonance imaging (iMRI) neurosurgery suite, the first of its kind in North America, enhancing surgical precision and patient outcomes.

Technological Platform and Innovation

Children's Minnesota distinguishes itself through:

• Hybrid iMRI Neurosurgery Suite: A state-of-the-art facility allowing real-time imaging during neurosurgical procedures, improving accuracy and reducing the need for additional surgeries.

• Telehealth Services: Expansion of telemedicine capabilities to provide remote consultations, increasing access to specialized pediatric care across the region.

Leadership Team

• Marc Gorelick, MD: President and Chief Executive Officer. Appointed CEO in December 2017, Dr. Gorelick has a background in pediatric emergency medicine and has held leadership roles at Children's Hospital of Wisconsin and Children's Hospital of Philadelphia.

• James Burroughs: Senior Vice President, Government and Community Relations, Chief Equity and Inclusion Officer. Joined in January 2019, focusing on advancing equity, inclusion, and community relations.

• Brenda McCormick: Chief Financial Officer and Senior Vice President. Joined in August 2019, bringing extensive experience in financial leadership from roles at Smiths Medical and Valspar.

• Jennifer Soderholm: Senior Vice President and Chief Development Officer, President of Children's Minnesota Foundation. Appointed in 2019, with over 29 years of experience in health care fundraising and development.

Leadership Changes

In 2019, Children's Minnesota appointed:

• Brenda McCormick as Chief Financial Officer and Senior Vice President.

• Jennifer Soderholm as Senior Vice President and Chief Development Officer, President of Children's Minnesota Foundation.

Competitor Profile

Market Insights and Dynamics

The pediatric health care market is characterized by:

• Growing Demand: Increasing prevalence of chronic conditions among children.

• Technological Advancements: Adoption of innovative treatments and telehealth services.

• Regulatory Changes: Evolving health care policies impacting pediatric care delivery.

Competitor Analysis

Key competitors include:

• M Health Fairview University of Minnesota Masonic Children's Hospital: Offers a range of pediatric specialties and is affiliated with the University of Minnesota Medical School.

• Gillette Children's Specialty Healthcare: Specializes in complex medical conditions and rehabilitation services for children.

Strategic Collaborations and Partnerships

Children's Minnesota has established significant partnerships to enhance its services:

• Children's Health Network: A collaborative community connecting pediatric health experts to deliver high-quality, cost-effective care.

• Minnesota Epilepsy Group: Jointly operates a Level 4 epilepsy center, providing comprehensive care for pediatric epilepsy patients.

Operational Insights

Children's Minnesota's strategic considerations include:

• Comprehensive Pediatric Services: Offering a wide range of specialties to meet diverse health needs.

• Community Engagement: Addressing social determinants of health through community programs.

• Technological Innovation: Implementing advanced medical technologies to improve patient outcomes.

Strategic Opportunities and Future Directions

Children's Minnesota aims to:

• Expand Telehealth Services: Increase access to specialized care through virtual platforms.

• Enhance Mental Health Programs: Develop comprehensive services to address the growing need for pediatric mental health care.

• Strengthen Community Partnerships: Collaborate with local organizations to improve health outcomes for children.

Contact Information

For more information, visit Children's Minnesota's official website.

Social Media Profiles:

• Facebook: @childrensminnesota

• Twitter: @childrensmn

• Instagram: @childrensmn