Non-Profit Hospitals and CEO Salary

Posted on February 1, 2008 by Dr. David Edward Marcinko MBA MEd CMP™

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The Connecticut State Challenge

[By Staff Writers]Doctor Scrubs

The state of Connecticut has 31 hospitals that are economically struggling.

The Report 

In fact, according to a 2006 report – led by Governor M. Jodi Rell – more than half of the state’s non-profit hospitals ran deficits while the rest generated below-adequate surpluses. Financial help has been slow from the state’s insurance programs. 

The Findings 

And so, the question raised by the state task force was whether these same hospitals should be paying CXOs steadily increasing salaries?

Examples: 

  • Salaries paid to top CEOs at the state’s hospitals grew 95 percent between 2002 and 2006, with some topping $1 million.
  • Hartford Hospital President and CEO John Meehan made just over $1 million in 2006, up 27 percent from 2002.
  • The salary of Robert Kiely, CEO of Middlesex Hospital in Middletown, climbed 82 percent, from $511,220 in 2002 to $932,923. 

Assessment 

In their defense, the hospitals stated they must compete with national salary levels to recruit top talent. And so, what is your opinion on the matter; is there a dichotomy between medical-mission and personal profit-margin?

Conclusion

Your thoughts and comments on this ME-P are appreciated. Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.

Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com

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Addictive Investing Personality of Medical Professionals

Posted on February 1, 2008 by Dr. David Edward Marcinko MBA MEd CMP™

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“The Addictive Investing Personality of Medical Professionals and Related Compulsions”

An exclusive white-paper report on medical professionals and their investing compulsions by one of the nation’s leading psychologists, gambling addiction and trauma specialists. 

AUTHORS:

Eugene Schmuckler PhD MBA MEd CTS [Behavioral Psychologist]

David Edward Marcinko CMP MBA MBBS

POSITION: Academic Dean: www.CertifiedMedicalPlanner.org an online certification program with fiduciary trademark logo that teaches financial professionals about contemporary health economics, physician focused financial planning, medical business management and related topics of organizational modernity.

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http://www.CertifiedMedicalPlanner.org

TOPIC: The Addictive Investing Personality of Medical Professionals and Related Compulsions

EXERPT: “Hard-working physicians and other medical practitioners confronted with the problems associated with managed care and healthcare reform may very well choose to direct a portion of their energies to “playing the market.” It is legal and ethical and offers the opportunity of quickly increasing one’s personal wealth – or NOT.  

Functioning virtually alone prevents others from questioning their actions. While not directly equivalent, this action is akin to the drinker who drinks alone so that no one really knows just how much is consumed – a recipe for financial and emotional disaster.”

Speaker: If you need a moderator or a speaker for an upcoming event, Dr. Gene Schmuckler is available for speaking engagements. Contact him at: MarcinkoAdvisors@msn.com

***

READ WHITE PAPER:

addictive-investing.pdf

Conclusion

Your thoughts and comments on this ME-P are appreciated. Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.

Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

***

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http://www.BusinessofMedicalPractice.com

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Health Plans Draws Fire for Physician Incentives

Posted on February 1, 2008 by Dr. David Edward Marcinko MBA MEd CMP™

Doctors May Profit from Generic Drug Switch

Staff Writers 

Several of the nation’s health plans are drawing scrutiny for offering financial incentives to entice doctors to prescribe cheaper generic medicines; according to a recent report from the Wall Street Journal.

This practice includes paying them up to $100 each time they switch a patient from a brand-name drug to a generic equivalent. 

As some pharmaceutical patents for a growing number of blockbuster drugs expire, some health insurers are using doctor-bonuses for writing more generic prescriptions. 

Proponents argue that the goal of saving patients, employers and insurers money is a noteworthy one. Others argue that it is only justified to reimburse doctors for spending time evaluating patients to determine whether a cheaper generic alternative is better – not for paying them for a wholesale switch. 

But aggressive approaches, like cash-rewards for each patient switched from a given list of drugs, are coming under fire for injecting financial incentives into what should be a purely medical decision. 

And, some medical societies are concerned that rewards may put doctors in the ethically questionable position of taking payments that patients know nothing about. 

Conclusion: And so, what are your thoughts on the matter?

Lexicon: www.HealthDictionarySeries.com

 

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