Posted on 01/05/2011 9:26:07 AM PST by Amerisrael
[This is one reason why healthcare is so expensive. The cost of healthcare insurance is not the problem. It's the high cost of doctor's salaries and hospital services.]
"The top employees at Mary Washington Healthcare earned more than $1.1 million in bonuses in 2009, their reward for a successful 2008."
"More than two dozen key executives and employee physicians earned annual bonuses ranging from $2,000 to $246,278. The median bonus for the company was more than $28,000."
"Fred Rankin, president and chief executive officer, received the largest bonus among managers: $151,430. Rankin continues to be the firm's highest-paid employee, with a 2009 salary package of $955,282."
"The salary information and bonus payments are recorded on Mary Washington's federal income tax form, the 990. The Internal Revenue Service requires a nonprofit organization such as Mary Washington to file an annual return and to make it available to the public. Mary Washington released its 2009 return last month."
"The return lists the top earners on the company's executive team. In addition to Rankin, this group includes five executive vice presidents, five senior vice presidents, six vice presidents, two directors and one executive director."
[see link below for salaies and bonuses] http://fredericksburg.com/News/Web/2011/012011/mary-washington-hospital-salaries
(Excerpt) Read more at fredericksburg.com ...
What is the average salary of a Major Leaguer in baseball?
A: In 2009, the average salary was $2,996,106.
They aren’t even required to have a GED.
What were the incentives based upon? Are they paid on quality of care, keeping expenses down, etc.?
Without knowing this, providing a number with no perspective is meaningless. But, that is generally how the press operates.
They’d prefer medical care was a commodity so we could get the same level of service as we do from the US Postal Service.
True, sports players get a lot of big $bucks.
I’m sure that has an effect on ticket prices to games, but not healthcare.
The top STAGE HAND on Broadway was paid $125,000 on top of annual pay of over $ 400,000...A STAGE HAND.
School superintendents all over the country receive well over $350,000 for pushing paper.
There are loads of reasons why health care costs are high, but payment to docs are only a small part.
Bet those stage hands got a “Union”.
Broadway? hey, that’s in NYC. Home of the “five families”.
Is Broadway close to Mulberry ST. in Little Italy?
They aren’t even required to have a GED.
How many people would be willing to pay to watch these administrators play baseball?
Maybe a few, but I bet no one would pay for medical services from a baseball player.
I have no objection to well-paid doctors. Between paying off school loans, paying malpractice insurance, paying for constant renewed education and certifications, high stress and long hours, I figure most deserve to make quite a bit over $200K per year.
Very good point. Maybe the guy renegotiated some insurance and service contracts for the hospital, saving them $750K per year. Maybe he convinced some rich old lady to donate millions to the hospital. Then the bonus looks quite reasonable.
It needs a barf alert.
You go to school for 8-12 years after HS, then internship and residencies for a few more before you are allowed to practice. Then when you do set up an office you have to pay the rent, buy equipment, pay a nurse, receptionist, bookkeeper, and a tax man at the very least.
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