It doesn't do X damage. It does X% of your health damage (
see wiki for details). At 5 turns of the condition left it always does 132.5% of your health damage minus y% for slime resistance. Hence the thing I posted above:
1) wear 0 ML outfit
2) get covered in slime
3) use free runaway
4) put on "slime hates it" outfit
5) adventure until covered in slime will kill you
6) repeat
You use a tattered scrap of paper (or similar item) to initiate a combat and then leave without it counting towards the adventure count of the run. But you did get covered in slime by a 0ML slime meaning you have 10 turns of coated in slime, which does far less damage (1% for 10 turns, 7% for 9. 20% for 8 etc.). So now you put on your slime hating gear but because you're already slimed for more turns than the extra ML doesn't cause instant death. Adventure for as many adventures as you like but stop before the coat in slime counter reaches 5 (the point at which is starts doing over 100% damage without slime resistance.
Basically you could only ever take 1% of your health as damage each combat if you could be bother to fight, tatter, equip +ML, fight, unequip +ML and repeat, but that would be incredibly tedious and the tattered scraps would cost more than just healing
My advice would be to have 0ML, fight, tatter, equip +ML, adventure until 7 turns of coated in slime left (you should have taken 72% damage), use a scroll of drastic healing, adventure again, use another scroll of healing. The counter should now be down to 5. If you have enough slime resistance gear to survive a 5 turn left hit then do so and use another scroll.
Still healing quite a lot but scrolls of drastic healing are way cheaper than tattered scraps so its cheaper in the long run and requires less swapping of equipment so is probably less tedious
At least you're not healing EVERY turn
I can fund you for the short term but I can't see it should be all that expensive.
Semi edit in that I can't be bothered to go back through my post and correct it - Just realised I forgot to say you obviously have to wipe the coated in slime off when it gets to 5 turns so we would need to get the wipe things too which adds quite a bit to the cost :\
edit edit - Man I'm rocking the pointlessly long posts with multiple edits today
It occurs to me that even with the extra few free turns, if you just keep the slime hating gear on, take the hit, heal with drastic healing and then wipe and repeat that will probably actually work out cheaper and without all the equipment changing shenanigans
So fair enough, carry on as you were
Maybe use KoLMafia and set the only active healing item as scrolls of drastic healing and the % health you want to be healed at. Then it should automatically heal you after each comat and you just need to wipe and initiate combat manually?