Summa Health has a goal of achieving a 1.5 to 2 percent operating margin within the next two to three years after the previous tumultuous year, which ended with a $28 million loss.

Interim leaders of the Akron-based health system shared that goal and reviewed Summa’s financials and history of the past year’s troubles and recovery during a public investor call for its bondholders on Monday.

Summa expects to end this year with a 0.9 percent operating margin, with revenues exceeding expenses by $12 million.

In a wide-ranging call, Summa Interim President and CEO Dr. Cliff Deveny and Interim Chief Financial Officer Thomas O’Neill said Summa finished the year with an operating loss of $28 million. That was better than an initial $60 million loss predicted last June and an updated $35  million loss estimate in November.

Among other highlights:

• Summa has been implementing its Performance Improvement Plan to stabilize its financial outlook since last year. The plan, developed with its minority partner Mercy Health, has identified an estimated $40 million in recurring cuts and $3.4 million in one-time improvements. The estimated impact for the 2018 budget of the plan is $33 million. The cuts include the elimination of 300 full-time equivalent positions in mid- and late 2017, said Deveny.

• Deveny, who has his first anniversary of being named interim CEO on March 13, said the search for a permanent CEO by the board of directors is ongoing. (He is an applicant.) He did not have a time frame. Deveny hopes to have a permanent chief financial officer by May.

• At a recent board of directors meeting, longtime local Summa board member, attorney and business owner Anthony Lockhart was elected chair. He replaces attorney James McIlvaine, who remains on the board. Longtime board member FirstEnergy Executive Vice President Leila Vespoli is vice chair.

• Deveny said the net effect of Crystal Clinic leaving its leased space in Summa St. Thomas Hospital will be “minimal, at best” for the health system. Deveny said Summa has been rebuilding its orthopedic business.

“Summa has added six orthopedic surgeons of our own and two spine surgeons starting in August. We will have a complement of eight operating surgeons and three nonoperating sport medicine physicians,” he said.

“A lot of that business is coming from within our system.”

Medical writer Betty Lin-Fisher can be reached at 330-996-3724 or Follow her @blinfisherABJ on Twitter or and see all her stories at