DHIN: Self-Sustaining and Financially Secure
As many health information exchanges have struggled to implement a successful business model, DHIN has been a financially self-sustaining operation since 2012. Revenue generated from DHIN’s products and services cover our expenses and allow for an allocation to capital reserves, ensuring that DHIN can ride out unexpected financial challenges. Sound business practices also allow for the organization to prepare for growth with investments in new technology platforms and infrastructure. It is this strong financial foundation that allows DHIN to confidently navigate the challenges of the changing healthcare marketplace and prepare for meeting the healthcare communication needs in Delaware and beyond.
As opportunities become available, DHIN applies for grant funding that supports initiatives relevant to the strategic direction of our stakeholders. This helps accelerate the development and adoption of new products and services. In 2015, DHIN received two matching grants from the Office of National Coordinator for a combined total of over $3.3 million dollars. These grants, which expired in July of 2017, helped to promote the adoption of notification services, consumer engagement tools, care summary exchange and much more. While DHIN is not dependent on grant funding, its availability can greatly enhance DHIN’s ability to serve the complex and evolving communication needs of care providers and patients.
It is important to note that DHIN started in 2007 as a private-public partnership with DHIN receiving public funds to partially support its operations. DHIN’s enabling statute was amended in 2011 designating DHIN as a non-profit, state-related organization (not a state agency) and that it be self-funding and self-supporting.
Examples of how DHIN is a state-related organization are illustrated by the following points:
-DHIN’s Board of Directors is appointed by Delaware’s Governor
-Under its statute, DHIN must provide an annual report detailing its activities to the state assembly
Examples of how DHIN is like a private non-profit include:
-DHIN’s staff are not state employees
-DHIN does not receive any in-kind public support or funding
-DHIN is not subject to state procurement regulations
The staff and leadership team of DHIN greatly appreciate how the organization got its start. We are dedicated to honoring the good faith and support that made DHIN possible with a fully self-sustaining health information exchange, serving the common-good with effective and innovative healthcare communication services.
FY17 Key Financial Metrics
Total Revenue $10.8MM
Operating Revenue $7.5MM
Net Income $0.6MM
Total Reserves $7.9MM (Enough to cover nearly a full year of operating expenses)