Mount Carmel's FY17 finances boosted by operating efficiency, turnaround of insurance subsidiary

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Mount Carmel Health System dramatically swung back to surpluses this year and credits increased efficiency and the recovery of its Medicare Advantage insurance subsidiary. The Columbus hospital system had an operating gain of $44.1 million on $1.87 billion revenue in the year ended June 30, a $113 million turnaround from its $69 million loss in fiscal 2016. With fiscal 2018 nearly half over, the system is on budget for continued growth and improved margins, said CFO Paul Morris, who started theā€¦
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