Pass the Barf Bag: Hospital CEO gets 6-figure payout amid bankruptcy filing
Thanks to the Minnesota Nurses Association for this post and link on their Facebook page:
Pass the barf bag: Hospital CEOs at “Nonprofit” Hospitals in the Midwest make an average of $481,000 in total pay. And when a N.J. hospital goes broke, the CEO gets a six-figure payout while the nurses’ pension goes unfunded.
The story reported at FierceHealthcare.com, says,
Thanks to lowered reimbursements, some struggling hospitals will be forced to shut their doors. Yet weeks before city-owned Hoboken (N.J.) University Hospital filed for bankruptcy, it gave its CEO a six-figure payout upon resignation, reports The Star-Ledger.
Former CEO Spiros Hatiras will receive $600,000 in compensation and full medical benefits for one year, although the organization doesn’t have enough funds to pay its $1.9 million in city-related bills or the $1.45 million it owes to employees’ pension and health funds, according to the article.
“Personally, I think it’s a disgrace that they are giving out a golden parachute while people like nurses are not getting paid,” said one of the most vocal opponents of the sale, Beth Mason of Hoboken City Council.”
Yeah, we do too.