Mount Carmel posts big annual loss after Medicare billing error
Mount Carmel Health System recorded a $68.6 million operating loss for fiscal 2016, almost all of it due to a Medicare billing error the Columbus system discovered late last year in its insurance subsidiary.
According to the annual audit of the system's parent, revenue increased by 6 percent over the prior year to $1.8 billion in the year ended June 30.
Mount Carmel runs four hospitals, a private Medicare Advantage insurance plan, a nursing college and a physician practice, and is the second-largest...