Take the Money and Run

In 2 weeks the 2015 Run for Southlake wil take place here in town.

The Pledging Goal for this event is $175,000

This amount seems impressive until you put it in context of the hospital’s CEO’s compensation package.

The Error Banner reported out the latest sunshine list here

If you drill down by sector you can see the CEO of Southlake’s compensation lists as $412,000:

So the Run for Southlake event will only generate 42% of the CEO’s salary.

Put another way the Run for Southlake could be run twice and there still wouldn’t be enough to pay out the hospital’s CEO.

It’s no wonder that Hospital administration has become reliant upon unreasonably high parking rates as a revenue stream. A topic I’ve touched on here: https://wattstrending.wordpress.com/2014/03/14/put-it-in-park/ and here: https://wattstrending.wordpress.com/2013/06/26/park-and-cry/

This revenue stream may be changing though as the Toronto Star is reporting that Ontario’s Health Minister is working with the OHA to remedy the exorbitant charges that ail patients and visitors alike:

So with CEO’s salary’s expanding and parking revenue set to decrease what other expenses can be cut to trim Southlake’s budget?

Well CTV News is reporting that the hospital is walking 17 nurses and cutting the overal number of nursing hours: http://www.ctvnews.ca/politics/hundreds-of-ontario-nurses-being-laid-off-1.2319898

This after recent investigations into assults on nurses at Southlake:

It was in that piece that I reviewed Southlake’s 2013/2014 Treasurers report which is available online here: http://www.southlakeregional.org/doc.aspx?id=716

It reports revenues over expenses of $7.1 million for 2013/14.

So what gives?

If the hospital is collecting parking fees while reporting revenues over expenses and can afford to compensate it’s CEO over $400,000 a year how can it conceivable justify firing its front line nursing staff?

This is a concern that is shared by several of the 120+ comments on the CTV news site.

Here are a couple excerpts:

“Getting rid of nurses is always the response to budget issues. We need CEO’s with the guts to take a good hard look at the hospitals they are running and fix the real problems. Their financial handling and staff treatment are a big FAIL.”

“I am going to the Hospital today, I count on those overworked nurses to get me home quicker. I don’t want surgery one day and home the next without proper care. I will be unable to walk much for a while. To drop this load on my wife is unfair and unreasonable. I f you want to save money stop paying CEO’s and other highly placed adm. staff gross salary’s of $5-$600,000 with great benefit and golden handshake retirement packages.”

“The Province could save money by firing hospital CEO’s, especially those who make half a million dollars a year, who don’t have the skills to figure out how to trim budgets other than by firing front-line professionals like nurses.

“There is absolutely NO comparison between public sector executives who have no real accountability, and CEO’s of private corporations who are directly accountable to shareholders and who can be fired forthwith as a result of bad financial performance.”

But it is this comment I want to focus in on:

“A CEO making $160,000 is just as competent as one making $500,000 a year, judging by the performance of some CEO’s who can’t manage to balance a budget without firing front-line staff.”

Until there is action taken in this direction with respect to the CEO of Southlake Hospital’s salary there will be no finish line.

Watts on your mind?

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