Media reports, "Hospital CEO Donates Salary To Employees." Looks like he's keeping 98.% of his $26,788,251, to me

[Birdstrike]

Did you see the article out today, "HCA CEO donates salary to employees"?

People close to HCA please fact check me on this, but based on my research my opinion is it looks more like, "CEO keeps 99.2% of his $26.8 million income for himself."

According to the article he's donating his "salary." They go on to say it's only two months of his "salary." If you look up his base "salary" in HCA financials (which I found online) it appears to be $1,425,000. Divide that by 12 months, then multiply by 2 months, and you get $237,500. But keep in mind his total yearly compensation is not only his "salary" of $1.4 million, but actually $26,788,251 !!!! (HCA financial statement, here) mostly in stock awards, bonuses and increased pension benefits.

For the media to say, "CEO donates salary" leaves the impressing he's working for free and giving all his salary to his employees. Based on what I'm seeing, that's incredibly misleading. Two months of his base salary looks to me, to actually only 0.8% of his yearly income.

Which is more accurate?

A. "CEO Donates Salary to Employees!" or,

B. "CEO keeps 99.2% of his massive $26.8 million income for himself, donates tiny fraction to employees"

Aren't those incredibly misleading headlines from the news organizations printing them? In my opinion, the idea for the press attention likely went right from one of Hazen's assistants, to the press and was carefully planted as PR to calm the masses.

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[Brigade4Radiant]

HCA never fails to cash out on even a pandemic. Notice how they are prodcasting this trying to erase their reputation of massive defrauders of the government.

 

[namethatsmell]

It's high time for HCA and their for-profit hospital chain cronies to sink into the sea.

 

[RustedFox]

Someone needs to publish Birdstrike's post. Somewhere where a lot of people would see it.

 

[thegenius]

Someone needs to publish Birdstrike's post. Somewhere where a lot of people would see it.

Can't savvy people with social medial just broadcast it to the entire world? Like it just pops up on their cell phone as an alert?

 

[Birdstrike]

Someone needs to publish Birdstrike's post. Somewhere where a lot of people would see it.

Remember when I used to get stuff like this put on EP Monthly's online blog and KevinMD.com? Yeah, I'm too lazy to do that now. But someone else can by all means fact check the meat of it, and submit the spirit of the post in their own words to any of those sites, or traditional media if they want. The breadcrumbs are all there in blue.

 

[Old_Mil]

But keep in mind his total yearly compensation is not only his "salary" of $1.4 million, but actually $26,788,251 !!!! (HCA financial statement, here) mostly in stock awards, bonuses and increased pension benefits.

This is a fairly common practice when it comes to compensating upper management in all industries so they get to shelter the majority of their seven or eight figure income from the progressive tax code.

 

[Old_Mil]

Did you see the article out today, "HCA CEO donates salary to employees"?

People close to HCA please fact check me on this, but based on my research my opinion is it looks more like, "CEO keeps 99.2% of his $26.8 million income for himself."

According to the article he's donating his "salary." They go on to say it's only two months of his "salary." If you look up his base "salary" in HCA financials (which I found online) it appears to be $1,425,000. Divide that by 12 months, then multiply by 2 months, and you get $237,500. But keep in mind his total yearly compensation is not only his "salary" of $1.4 million, but actually $26,788,251 !!!! (HCA financial statement, here) mostly in stock awards, bonuses and increased pension benefits.

For the media to say, "CEO donates salary" leaves the impressing he's working for free and giving all his salary to his employees. Based on what I'm seeing, that's incredibly misleading. Two months of his base salary looks to me, to actually only 0.8% of his yearly income.

Which is more accurate?

A. "CEO Donates Salary to Employees!" or,

B. "CEO keeps 99.2% of his massive $26.8 million income for himself, donates tiny fraction to employees"

Aren't those incredibly misleading headlines from the news organizations printing them? In my opinion, the idea for the press attention likely went right from one of Hazen's assistants, to the press and was carefully planted as PR to calm the masses.

The author of that article, Ayla Eliison, is a managing editor of Becker's Hospital Review and a graduate of the Southern Illinois University law school. In other words, just another one of the many rent seekers who has become involved with the health care industry over the past several decades.

 

[chocomorsel]

Yeah, when they charge 78k for a three day non icu, non procedural hospital stay, they should sink.
Hope they close a bunch of their hospitals.