AJC: Hospital Execs Pay Raises Eyebrows
In other news, The Boston Globe reports that Quincy Hospital has declared bankruptcy just days after its trustees approved a deal for the facility to be acquired by Steward Health Care System.
Atlanta Journal Constitution: Hospital CEO Pay Has Some Ill At Ease
Hospitals across the region are cutting staff, elected officials are considering slashing Medicaid and Medicare funding and medical bills are driving an increasing number of Georgians into bankruptcy. Doctors and nurses confer at Grady Memorial Hospital's Marcus Stroke & Neuroscience Center. Grady's former CEO Michael Young, who left the hospital in June, made $833,646 in 2009. But the six- to seven-digit compensation packages for the chief executives who lead metro Atlanta's taxpayer-subsidized hospitals remain untouched and in most cases are growing (Pell, 7/3).
The Boston Globe: Quincy Hospital Says It Is Bankrupt
Four days after Quincy Medical Center trustees approved a deal for it to be acquired by Steward Health Care System, the hospital filed for bankruptcy protection yesterday in a bid to dump more than $50 million in debt before the sale. The 196-bed hospital had not previously disclosed its plans to restructure in U.S. Bankruptcy Court. Last month, it failed to make a monthly payment to bondholders on about $56 million it borrowed four years ago to finance renovations and a new power plant (Weisman, 7/2).