Where is all the money going in healthcare? Well, the insurance companies are laughing all the way to the bank. They skim most of it. Let’s not forget the administrators, though. Michael Tarwater, CEO of Carolinas HealthCare System, received $6.6 million in total compensation this past year. This was an increase of 26 percent over the previous year’s $5.3 million. Oh, and Carolinas HealthCare is a nonprofit system. Want more? Each of the top 10 executives at Carolinas HealthCare received more than $1 million in total compensation for 2015. Once again, here are the big questions that NO ONE wants to ask or do anything about?
- Why are there so many administrators in these hospital systems?
- What do they actually do?
- Why are they paid so much?
Per the article, the CEO of the American Red Cross, a $3 billion organization, makes about $500,000 so these people do not need this much money. What should hospitals do to fix this? I have some ideas:
- Pay the administrators much less
- Get rid of 90% of these administrators
- Pay for more nurses!
- Pay for more staff!
- Pay the nurses and staff more!
- Try to keep the prices lower for care!
- Stop gouging the self-pay people!
Remember, if the CEO went missing for a month no one would notice. If a surgeon went missing for a day there would be chaos and he would be reported to the State Board of Medicine.