Despite giving patients good value and a positive experience, the for-profit, physician-run Medical Center at Elizabeth Place remains at a financial disadvantage compared to local nonprofit hospitals, its leaders claim. While “thriving clinically,” MCEP’s revenues and patient volumes have grown more slowly than expected, said CEO Alex Rintoul. Revenues are on pace to reach $16.5 million this year, up 10 percent from last year’s $15 million, he said. Patient volumes are on track to increase 10 percent to 15 percent from a year earlier, about half the increase MCEP had expected after landing contracts last year with Anthem Blue Cross and Blue Shield in Ohio and UnitedHealthcare. The slow volume growth partly reflects patients delaying elective surgeries during a down economy. But Rintoul and Dr. John Fleishman, chairman of MCEP’s board, also believe less generous contracts with Anthem and UnitedHealthcare have hurt financial performance, revenue growth and profit margins.
