Broward Health Has Cure for Recession (It's Gonna Cost You)
For Broward Health executives, physicians, and staff, this would seem to mean fewer patients and, thus, a lack of revenue. But don't worry yourself sick on their account.
Check out the numbers that John DeGroot has posted on his eponymous blog. DeGroot, who draws upon past experience at Bob Butterworth's Florida Attorney General Office, has that rare ability to make sense out of a hospital district's financial data. And by his reckoning, Broward Health is raking it in.
DeGroot finds that salaries among Broward Health staff have increased by 55 percent over ten years, a rate that nearly doubles the rate of growth for the consumer price index.
But that's nothing compared to the public hospital district's executives, whose salaries have grown by 93 percent in the same time. The average executive makes $336,000.
DeGroot also checked the district's 990 filings and found that Broward Health has increased its compensation to officers and directors by 187 percent in ten years.
So what are the folks of North Broward getting in exchange for that handsome salary? Well, we've got a group of executives who have allowed Broward Health to expose itself to the possibility of a federal investigation for fraud and hundreds of millions of dollars in potential penalties, a cost that will have to be paid by us health-care consumers, one way or the other.
Shouldn't these executives be working on Wall Street?