Comprehensive Report on Olympic Medical Center
Company Overview
Olympic Medical Center (OMC) is a prominent healthcare provider situated in the Pacific Northwest, specifically within Port Angeles and Sequim, Washington. Recognized as the largest employer in Clallam County, OMC employs over 1,600 staff members. The organization operates as a Level III Trauma Center, offering a variety of medical services including emergency care, a birth center, and a vast oncology department. This department features a dedicated cancer center, infusion center, and comprehensive medical oncology services. As a community-owned entity, OMC is managed by a seven-member publicly elected board, ensuring governance and accountability align with local community needs.
Leadership Team
- Darryl Wolfe - Chief Executive Officer
Darryl Wolfe has held the CEO position for over four years. An alumnus of Pacific Lutheran University, Wolfe is located in the Greater Seattle Area. Under his leadership, OMC focuses on delivering exemplary healthcare services while maintaining fiscal prudence. Wolfe's executive acumen and technical competence are well regarded both within and outside the organization.
- Lorraine Cannon - Chief Financial Officer
Joining OMC on April 20, 2020, Lorraine Cannon brings a wealth of financial expertise from the healthcare industry. Educated at Webster University, she is tasked with overseeing OMC's financial health, aligning the budget and financial operations with the center's strategic goals.
- Ryan Combs - Chief Operating Officer
Appointed as COO in 2022, Ryan Combs has over a decade of experience from Samaritan Health Services in Oregon. His role involves managing the daily operations, ensuring optimal efficiency in service delivery. He holds a degree from MSU and is based in Port Angeles.
- Scott Kennedy, MD - Chief Medical Officer
Dr. Scott Kennedy, a board-certified Family Practice physician, serves as the Chief Medical Officer. Situated in Port Angeles, Dr. Kennedy plays a crucial role in steering strategic healthcare initiatives, particularly those aimed at preventing opioid overdoses.
Financial Insights
Olympic Medical Center exhibits a robust financial standing with estimated annual revenues ranging from $100 million to $1 billion. A specific financial record notes a revenue figure of $227.5 million. However, OMC reported an operational loss of $28 million in 2023 as it seeks financial recovery following the impacts of COVID-19. Efforts towards financial restructuring and enhanced efficiency are anticipated.
Strategic Initiatives
OMC is actively pursuing strategic partnerships as part of its board and executive-led exploration, with the aim of strengthening service offerings and operational frameworks in response to complex healthcare challenges. This strategic drive is central to OMC's adaptation and future prosperity.
Competitor Profiling
Overview of OMC Operations
Olympic Medical Center embodies comprehensive healthcare through its two primary facilities: Olympic Memorial Hospital, a 126-bed acute care unit offering extensive diagnostic imaging and laboratory services, and the Olympic Medical Imaging Center in Sequim, providing mammography, ultrasound, and bone density scanning. The Radiation Oncology center collaborates with the Seattle Cancer Care Alliance and is complemented by extensive physical therapy and rehabilitation services. Additionally, Olympic Medical Home Health delivers certified home health services across Clallam and West Jefferson counties.
Financial Overview of Operations
- Revenue: Estimated at $321.7 million annually
- Employees: Approximately 851, with a revenue per employee ratio of $378,000
- Growth: OMC's workforce expanded by 6% over the past year
Key Competitors
OMC's competitive landscape includes several notable healthcare institutions, such as:
1. Beaver Medical Group
Renowned for comprehensive healthcare, Beaver Medical Group emphasizes preventive care through extensive assessments and individual care plans.
2. Good Samaritan Medical Center
A full-service acute care hospital dedicated to patient satisfaction, particularly within its comprehensive cancer care programs.
3. UW Medicine
Leader in medical research and education, UW Medicine leverages extensive clinical and educational resources to drive healthcare innovation.
4. EvergreenHealth
Known for its high-quality reputation and patient-centered care approach, characterized by continuous improvement in healthcare delivery.
Market Position
Olympic Medical Center stands as a pivotal healthcare provider within Washington State, leveraging its comprehensive service offerings and strategic collaborations to solidify and enhance its market presence. The positive revenue and staff growth trajectory underscore its commitment to delivering advanced healthcare while maintaining the community's well-being.
