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.
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11 comments:
i think the ceo salaries are an atrocity.. the people that really run the hospital are barely making ends meet and are being threatened with the saying " be grateful you have your job".. scare tactics in this economy dont do much for the moral of these hospitals.. the whole country has cut their spending and rhode island of all states has the highest paid? i think capping and reducing their salaries is a great idea.. let them feel a little of the crunch like the rest of us!!
This is shameful and why do we put up with it. Staff are lucky to receive 2% for a raise. What kind of non-profit organization is this that can afford to pay people in the millions of dollars. When is our contract up for renewel. We had better not be given a hard time.
Thank you for posting this
Barbara Smithson
I agree, CEO's making MILLIONS of dollars while people are with out jobs. Public sector (government, etc) who historically have kept salary increases and pay rates are cutting back, and so should CEOs. While Lifespan executives top the salary list, RI nurses are some of the lowest paid in the region. Im not saying RI nurses need a salary increase, but CEOs need to look at their salaries and see if they are in line with economic conditions, which they are not, and take a salary CUT. For one person to bring home $3 Million while people starve on the streets is a crime, something needs to be done. If we are non-profit, how does our CEO make $3 million? Time for some public outcry.
We nurses at Hasbro are being reallocated/laid off due to "overstaffing" and being "overbudgeted", but the CEO can make over $$3 million?!?!?! Just recently, it was published that nurse tp\o patient ratio was key in patient satisfaction, yet we at Hasbro, are being forced to downsize our nursing staff. Maybe George Vecchione should take a pay cut, so that our pediatric patients are well cared for! We all knew something bad was coming when all of our well known Doctors, Surgeons, and chief personnel all began to move out of Lifespan!
Maybe Babineau should stop coming down on the staff for our supposed low patient satisfaction scores and start complaining to George. Perhaps some of his salary could be reallocated to the areas we score lowest with the patients. But time and time again, its the staff on the front lines doing the best they can, all the while being the ones to hear the patients complaints and frustrations, that are blamed by administration when patients are unhappy. It's the Rhode Island Hospital Employee Motto at work again:
We the willing,
Led by the Unknowning,
Are doing the impossible,
For the ungrateful.
We have done so much,
For so long with so little,
We are now Qualified
To do anything
With NOTHING!
Are you kidding me????...I am a RN at the beck and call of patients,doctors and administration and I get 25.00/hr...you do the math!!!! We work like dogs because "there is no money in the budget for extra nurses" and he is making 3 million $'s That's a disgrace!!!!!!! Do you know how many nurses could be hired for HALF his salary???The President of the United States only makes $400,000 a year an he is running a country! WELCOME TO RI!!!
I for one would like to know just what our CEO at LifeSpan has done to justify his 3 million dollar salary!! The rest of us have to justify our raise by documenting what progress we have made during the past year. We also have to "set goals" for future performance.
1 ceo @ $3,000,000 divided by $50,000 avg rn salary ='s 60 rn, nuff said
Let's remember that when the next contract negotiations begin and we have to fight for wage increases. He should be ashamed to take that much in salary when we can barely get comfort carts for the families of dying patients!
These salaries are a disgrace to our society of uninsured and unemployed...How can Lifespan talk about cut backs that directly effect patient care without cutting the executive salaries??? I would like to have Lifespan justify and explain to the employees of RIH and the citizen of a stuggling state of RI just what is it the the executive do to deserve such ridiculous salaries, are they saving lives??? or jobs??? I'm positive the the hospitals would continue to operate with lots more money without them. It time to cut from the useless top not the frontline!!!!!
Doctors work longer hours, weekends, nights and holidays like the rest of us, carrying expensive liability insurance, have far more education than any hospital CEO...what the heck is the business world doing paying CEOs more than doctors?? Management is destroying the country by itself, NOT the lavish lifestyle we working people are accused of enjoying.We need caps and accountability with ALL business CEOs!! Landmark nurses and CNAs have had raises held back, told to be grateful to have a job while the spec. master running it is paid enormous money! Channel some of HIS funds into the hospital, as he expected US to do last Spetember!
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