I posted in the other thread about how this is involving other for profit healthcare stocks, but I see a trend that we need to correct before the wrong people are hurt.
We are talking about for-profit healthcare executives and owners.
The CEO of HCA made $21m in total compensation.
A physician makes on average $200k in the org.
Tenet Healthcare CEO made $18m.
A physician makes on average $232k.
Vs Non-profits:
Mayo Clinic CEO: $3.72m (notably also a Dr?)
Physician: $273k
Cleveland Clinic CEO: $4m (this was tough to find)
Physician: $235k
Now let's look at revenue and profit (well, the revenue for the non-profits). HCA pulls in $60b in revenue, $4b in profit. Tenet HC: $17b in revenue, $400m in profit. Mayo Clinic: $16.3b revenue, Cleveland Clinic: $8.4b revenue.
The contrast is a bit alarming isn't it? Physician salaries are fairly consistent across the board, but the executives of the for-profit entities make 4x-5x the compensation as the non-profits (not that the non-profit CEOs really need $4m/year in pay).
I posted in the other thread about how this is involving other for profit healthcare stocks, but I see a trend that we need to correct before the wrong people are hurt.
We are talking about for-profit healthcare executives and owners.
The CEO of HCA made $21m in total compensation. A physician makes on average $200k in the org.
Tenet Healthcare CEO made $18m. A physician makes on average $232k.
Vs Non-profits: Mayo Clinic CEO: $3.72m (notably also a Dr?) Physician: $273k
Cleveland Clinic CEO: $4m (this was tough to find) Physician: $235k
Now let's look at revenue and profit (well, the revenue for the non-profits). HCA pulls in $60b in revenue, $4b in profit. Tenet HC: $17b in revenue, $400m in profit. Mayo Clinic: $16.3b revenue, Cleveland Clinic: $8.4b revenue.
The contrast is a bit alarming isn't it? Physician salaries are fairly consistent across the board, but the executives of the for-profit entities make 4x-5x the compensation as the non-profits (not that the non-profit CEOs really need $4m/year in pay).
Tying healthcare to profits is the problem.
Capital requires the commodification of Healthcare, and everything else essential to human life, to keep its rotting corpse on life support.