Mount Carmel hires new president of Medicare Advantage plan as fast growth leads to losses
Enrollment has jumped by 16 percent so far this year in MediGold ' a net increase of 6,200 members in the private Medicare Advantage plan run by Mount Carmel Health System ' but the unexpected growth led to underwriting losses beginning in late 2015.
Meanwhile, Mike Demand has been hired from a Blue Cross Blue Shield plan as MediGold's new president.
Through the first six months of 2016, MediGold has $303 million in revenue between its HMO and PPO divisions, 11 percent more than $272 million...