Fairfield Memorial Hospital’s latest IRS tax filing, submitted May 14th outlines a year of substantial personnel spending alongside a major revenue increase tied to its new partnership with Deaconess Hospital. For the fiscal year ending June 2024, the hospital reported a $1.5 million income boost from the April 1st affiliation agreement with Deaconess. While the agreement strengthened the hospital’s long-term financial position, the period also saw unusually high leadership expenses as Fairfield Memorial cycled through three Chief Executive Officers.
According to the filing, former CEO Katherine Bunting Williams was paid $312,644 during the fiscal year. Interim CEO Kristen Boldt received $137,386, and Kelly Christie, who served only two weeks in the role, was paid $19,527. The hospital’s top physician compensation figures were also significant. Orthopedic surgeon Dr. Kory Blank earned $828,529, and urologist Dr. Louis Remynse received $715,576. Both physicians have since departed the hospital, and neither position has been replaced.
Hospital officials say Fairfield Memorial’s financial outlook has improved dramatically since its affiliation with Deaconess, which now supplies both the Chief Executive Officer and Chief Financial Officer. The five-year agreement includes provisions allowing the term to be shortened or extended depending on future needs.
Overall, the filing highlights a year of major transitions for the hospital — from executive turnover to physician departures — while also detailing the financial impact of its new regional partnership.