So Nurses and other healthcrae professionals should get increase in pay with the number of people we help. We are coming for the CEOs pay, because they do nothing. Hospitals sell themselves no need to pay these jerks this much money.
My interpretation is that a lot of hospitals are understaffed. Healthcare workers outside of physicians don’t make enough to live with n this economy. Therefore I don’t understand how is it possible to reward so much money to CEO and not to actually healthcare workers. Especially for nonprofit hospitals it’s unacceptable to pour cash to research, CEO pay, or even building new facilities until clinical staff is properly compensated. Otherwise soon enough nobody will want to work at the hospital
Great video overall. Of course, it makes sense that improving the revenue of an individual hospital system would earn a CEO higher comp, but the data presented here suggests the size of the employer matters much more than any metric regarding CEO performance. One would assume that this is because larger systems hire CEOs with more qualifications or experience to handle their more complex systems As for better incentivization schemes, it seems k-12 teachers in the US have a similar problem. They tend to be assessed more positively if they get a classroom full of kids primed to learn rather than kids from more marginalized communities who are less prepared to excel, but ironically need the help even more. For teachers, they started using "growth" as a metric by taking comparable assessments of the class before and after the school year and looking at the difference. I imagine healthcare systems could evolve similar metrics for annual trends in surveyed communal health if they really wanted to, and tie that to executive comp.
I'm enjoying your videos and a lot of good observations, but I immediately thought that this could be a "correlation isn't always causation" situation. Without any hard data to back up my theory, I would guess that the higher revenue hospitals are located in urban areas with higher salaries and higher costs of living, where the smaller hospitals are located in rural areas with lower overall salaries and cost of living, and that while CEO salaries may track with hospital revenues in aggregate, small hospitals are likely more prevalent in areas that have other factors suppressing overall compensation.
