Here are four things to know.
1. The system, part of Livonia, Mich.-based Trinity Health, posted an operating gain of $44.1 million on $1.87 billion revenues in fiscal year 2017, the report states. This compares to a $69 million loss in the year prior.
2. The improvement is partially attributed to a turnaround of MCHS’ MediGold Medicare Advantage plan. The system’s finances suffered in fiscal year 2016 after data-entry errors were found in the plan and the system had to repay the federal government $65 million, reports Columbus Business First. MCHS notes the issue was remedied and that the plan broke even in fiscal year 2017.
3. The system overall reported a nearly $50 million boost in operating income in fiscal year 2017 compared to the year prior.
4. MCHS CFO Paul Morris said the first quarter, from July to September, of fiscal year 2018 so far has been positive as well, resulting in projections for continued improved margins, according to the report. “We’re having a very good year. There’s definitely some growth taking place. As you grow you become more efficient. You still have to manage the resources,” he added.
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