COLUMBUS, OH
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)MOUNT CARMEL HEALTH INSURANCE COMPANY, founded in 2007, is a mid-sized nonprofit in the Health Care sector that reported $13.9M in total revenue in fiscal year 2023. Revenue surged 40% from the prior year, signaling strong growth momentum. Expenses of $15.4M exceeded revenue, resulting in a 10% operating deficit.
WE, MOUNT CARMEL AND TRINITY HEALTH, SERVE TOGETHER IN THE SPIRIT OF THE GOSPEL AS A COMPASSIONATE AND TRANSFORMING HEALING PRESENCE WITHIN OUR COMMUNITIES.MOUNT CARMEL HEALTH INSURANCE COMPANY (MCHIC) IS A MEMBER OF MOUNT CARMEL AND TRINITY HEALTH.
MOUNT CARMEL HEALTH INSURANCE COMPANY (MCHIC) WAS FORMED IN 2007 FOR THE PURPOSE OF ASSISTING MEDICARE-ELIGIBLE SENIORS IN THE CENTRAL OHIO REGION TO OBTAIN ACCESS TO MEDICARE ADVANTAGE INSURANCE...
MOUNT CARMEL HEALTH INSURANCE COMPANY (MCHIC) WAS FORMED IN 2007 FOR THE PURPOSE OF ASSISTING MEDICARE-ELIGIBLE SENIORS IN THE CENTRAL OHIO REGION TO OBTAIN ACCESS TO MEDICARE ADVANTAGE INSURANCE COVERAGE THAT PROVIDES COST-EFFECTIVE HEALTH BENEFITS, COMPASSIONATE CARE, AND SERVICE COUPLED WITH OUT-OF-NETWORK BENEFITS. MCHIC IS A WHOLLY-OWNED NONPROFIT SUBSIDIARY OF MOUNT CARMEL HEALTH SYSTEM, A TAX-EXEMPT HEALTH CARE SYSTEM UNDER IRC SECTION 501(C)(3). MCHIC OFFERS A PREFERRED PROVIDER ORGANIZATION PLAN IN ACCORDANCE WITH THE REQUIREMENTS OF THE CENTERS FOR MEDICARE AND MEDICAID SERVICES (CMS). THE PLAN IS AVAILABLE TO ALL RESIDENTS OF OHIO WITHIN MCHIC'S SERVICE AREA WHO ARE ELIGIBLE FOR MEDICARE PARTS A AND B. AS AN INTEGRAL PART OF MOUNT CARMEL HEALTH SYSTEM, MCHIC IS A COMMUNITY-BASED HEALTH CARE ORGANIZATION THAT WORKS IN COLLABORATION WITH EMPLOYERS, INDIVIDUAL MEMBERS, PHYSICIANS, HEALTH CARE PROVIDERS, AND COMMUNITY AND GOVERNMENTAL AGENCIES TO CONTINUALLY IMPROVE THE HEALTH OF ITS MEMBERS BY PROVIDING EXCEPTIONAL COVERAGE AND ACCESS TO HIGH QUALITY AND COST EFFECTIVE CARE. PLEASE VISIT OUR WEBSITE FOR ADDITIONAL INFORMATION:WWW.THPMEDICARE.ORG/MOUNT-CARMEL
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $13,934,685 | $9,948,719 | +0.4% |
| Expenses | $15,373,921 | $11,096,572 | +0.4% |
| Net Income | $-1,439,236 | $-1,147,853 | +0.3% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| LORRAINE LUTTON | DIRECTOR; MOUNT CARMEL CEO | 2.00 |
Officer
Director
|
$0 | $298,936 | $1,722,036 |
| JACK RANDOLPH | DIRECTOR; PRESIDENT & CEO | 2.00 |
Officer
Director
|
$0 | $190,083 | $957,338 |
| ANDY PRIDAY | MOUNT CARMEL CFO | 2.00 |
Officer
|
$0 | $73,151 | $580,062 |
| DANIEL WENDORFF MD | FORMER OFF; PRES, MC HEALTH PARTNERS | 0.00 |
|
$0 | $53,028 | $571,076 |
| GREG WISE MD | MEDICAL DIRECTOR MCHP | 2.00 |
Key Emp
|
$0 | $32,654 | $447,867 |
| DAVID VIS | ASST TREASURER;VP FINANCE OPERATIONS | 2.00 |
Officer
|
$0 | $18,414 | $388,049 |
| CARLOS ALVARADO | CHIEF ADMINISTRATIVE OFFICER | 2.00 |
Key Emp
|
$0 | $44,568 | $347,604 |
| TRISHA WHETSTONE | ASST SECRETARY; MCHS ASSOC COUNSEL | 2.00 |
Officer
|
$0 | $43,944 | $242,559 |
| KRISTINE SLAM MD | DIRECTOR THR 7/23; MCHS MED DIRECTOR | 2.00 |
Director
|
$0 | $0 | $18,176 |
| STEVE LUNDREGAN | DIRECTOR; CHAIR | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| JOSEPH PATRICK JR | DIRECTOR; TREASURER; SECRETARY | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| CATHY EDDY | DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| TODD FOX | DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| JILL PHLEGAR | DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $13,934,685 | $15,373,921 | $12,993,161 | $-1,439,236 |
| 2022 | $9,948,719 | $11,096,572 | $8,608,222 | $-1,147,853 |
| 2021 | $7,576,267 | $7,710,859 | $8,651,290 | $-134,592 |
| 2020 | $7,547,027 | $7,361,340 | $7,668,887 | $185,687 |
| 2019 | $8,925,652 | $9,297,905 | $8,995,563 | $-372,253 |
| 2018 | $8,735,864 | $8,581,610 | $7,554,445 | $154,254 |
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