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Categories: VT Headlines
VT Headlines: Hospital brass get $3 million in bonus pay amid deficits, cuts
The bonuses are not out of line for the heathy financials of the system. A few of the execs get more than a $1 million. Some in the $500k range. It’s a multi billion
dollar system. Pay should be good.
its not about good pay, its about transparency. you are a non profit you by law need to report compensation. as in any monopoly they dont bring ROI to patient benefit.
no competition for UVM other than Darthmouth or Albany. get rid of certificate of need. UVM wont even disclose how much money the give to the city for services
The questions that the public should be asking are: 1. Where does UVM Health Network recruit its executive talent from…locally, regionally, nationally. In other words, what is the labor market? 2. What is the median rate of total cash pay (base+incentive pay) for executives in health systems of similar size and complexity. 3. Is the pay a discretionary bonus or incentive pay based on achieving measurable outcomes? Is it common practice in executive compensation in the healthcare industry to put some of the targeted total cash at risk, thus only paying beyond the median rate based on achieving greater than expected results. I suspect that the Compensation Committee of the Board has asked these questions as part of their fiduciary duty as board members. Unfortunately, when some Vermont legislators express the desire to cap executive pay a 10 time the rate of pay for the lowest paid staff…. that should tell you a lot about how incompetent some people are.
Hospital brass gets $3 million ” bonus pay ” amid deficits and cuts and why do they deserve a bonus ??, I thought a bonus was for performance…………….
Who on the Medical board, thought paying for ineptness was a good policy, as other staffers, didn’t get the golden ring !!
How about showing us the books, as the deficits can be as bad as they promote if they have $3M for bonus pay, and they are allowed to increase their rates year after year, sounds a little fishy, but I can’t say it’s corrupt, but it’s more like a Ponzi Scheme and your funding it, Fool me once shame on you, fool me twice shame on me !!
Montpelier is in the business of protecting monopolies sanctioned by them. This is how the system works for them but doesn’t work for the people.
This is the good ol boy network, cronyism, nepotism, this is the first cousin and brother of socialism and marxism. It doesn’t work. It doesn’t fix itself, it’s only reason for living is to become larger and more expensive, there is NO incentive to be more productive or cost effective, because they get “free money”……your taxes and fees that are mandatory, you have NO CHOICE.
This is clearly NOT WORKING for Vermonters……
Just saw a breakdown of the “global” corporate finance structure – a trader dove through the levels of stock ownership of the giants – lo and behold, they all own a good piece of each other – the average holder and insider is a mere blip. Since the market remains seemingly flush and ever climbing to new highs…they can’t lose, they own and control it all. Carry on!