UM Regents OK Michigan Health Corp. Plan
At their June 21, 2012 meeting, University of Michigan regents approved the fiscal 2013 business plan and budget for the Michigan Health Corporation. MHC is a nonprofit founded in 1996 that’s part of the UM Health System, with 12 subsidiaries that are operated as partnerships with other entities statewide. [.pdf of FY 2013 budget and business plan]
In fiscal 2013, MHC is projecting a net loss of $4,975,845, compared to a loss of $1,116,769 in fiscal 2012. Those figures incorporate costs for startup operations. If startup costs are excluded, MHC anticipates a $1,489,919 net gain in FY 2013, compared to a projected $2,335,033 gain in FY 2012.
One of the startup ventures being formed is called Paradigm, which is described in the MHC report as … [Full Story]