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Luigi Mangione Judge Married to Former Healthcare Executive (www.kenklippenstein.com)

submitted 2 days ago by BrikoX@lemmy.zip to c/usa@midwest.social

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Pretrial judge in case involving murder of UnitedHealthcare CEO Brian Thompson married to former Pfizer exec

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[–] peoplebeproblems@midwest.social 34 points 2 days ago* (last edited 2 days ago) (1 children)

I posted in the other thread about how this is involving other for profit healthcare stocks, but I see a trend that we need to correct before the wrong people are hurt.

We are talking about for-profit healthcare executives and owners.

The CEO of HCA made $21m in total compensation. A physician makes on average $200k in the org.

Tenet Healthcare CEO made $18m. A physician makes on average $232k.

Vs Non-profits: Mayo Clinic CEO: $3.72m (notably also a Dr?) Physician: $273k

Cleveland Clinic CEO: $4m (this was tough to find) Physician: $235k

Now let's look at revenue and profit (well, the revenue for the non-profits). HCA pulls in $60b in revenue, $4b in profit. Tenet HC: $17b in revenue, $400m in profit. Mayo Clinic: $16.3b revenue, Cleveland Clinic: $8.4b revenue.

The contrast is a bit alarming isn't it? Physician salaries are fairly consistent across the board, but the executives of the for-profit entities make 4x-5x the compensation as the non-profits (not that the non-profit CEOs really need $4m/year in pay).

Tying healthcare to profits is the problem.

[–] theneverfox@pawb.social 2 points 11 hours ago

I could buy that maybe nonprofit CEOs might actually need a couple million a year - unfortunately, donations tend to come from the rich, and having the money to brush shoulders with them to schmooze might actually be important

Those numbers are pretty staggering though. And CEOs are usually well paid in order to funnel money upwards - I wonder how big those numbers are when you add in the board and the investors