Do hospital CEO's make too much money?

Recently, the Providence Phoenix published a detailed report on hospital CEO compensation in Rhode Island. At the top of the list was Lifespan CEO George Vecchione, whose total compensation in 2007 was nearly $3 million, making him the highest paid hospital executive in New England. Furthermore, the 10 hospital CEOs in Rhode Island who have stayed in their jobs since 2000 saw their pay increase by an average of 87 percent, while the consumer price index climbed only 20% during the same time period. Click here to read the full report.

In response to concerns about excessive hospital CEO salaries, State Senator Michael McCaffrey (D-Warwick) has introduced legislation that would cap administrative salaries at state-licensed hospitals, nursing homes, and other health-care facilities at 2-1/2 times the governor's salary, or approximately $300,000 a year. Only two hospital CEOs earned less than $300,000 in 2007. Click here to read more.

And, click here to read the Providence Journal's strongly-worded editorial criticizing excessive hospital CEO salaries.