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HCA CEO compensation increased 12% during pandemic

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Peter H. Lewis

HCA Healthcare, which owns and operates Mission Hospital in Asheville, reported last month making $ 1.4 billion in profit for the first three months of 2021, more than double the amount for the same period last year.

The new figures follow the HCA’s report in February that annual profits hit a record $ 3.8 billion in 2020, despite the pandemic, on the basis of what the company called strong cost management.

The nonprofit mission made a lot of profits, especially for the bosses

In a proxy circular filed with the Securities and Exchange Commission last month, HCA said its primary goal is to provide the highest quality health care to our patients, while having a positive impact on patients. communities in which we operate. But it rewards senior leaders much more for achieving financial performance objectives than for achieving quality of care parameters.

A year after announcing that its top executives would take a 30% pay cut during the pandemic, HCA reported last month that the total compensation of its chief executive, Sam Hazen, had increased by nearly 12%, to 30.4 million dollars in 2020. Total compensation for other senior HCA executives also increased significantly during the pandemic.

The HCA share price doubled during the pandemic, a boon for investors and executives.

Nancy Lindell, director of public relations and media relations for the HCA Healthcare North Carolina division and Mission Hospital, declined to present the performances of the West North Carolina HCA division or to disclose the financial compensation of hospital executives local.

Profits up, grades down

On April 29, the Leapfrog Group downgraded Mission Hospital to a B grade in its assessment of the hospital’s safety rating in spring 2021, based on performance metrics collected immediately before the start of the COVID-19 pandemic. .

Independent nonprofit group Leapfrog says its ratings reflect hospitals’ ability to protect patients from preventable errors, accidents, injuries and infections. The mission received an A grade in the Leapfrog Fall 2020 assessment; it is not known when the fall 2020 data was collected.

Leapfrog Group Hospital Safety Ranks for Asheville Area Hospitals, Spring 2021

A detailed breakdown of the Leapfrog ranking system can be found here.

On April 28, the Centers for Medicare & Medicaid Services (CMS) also lowered the overall rating of Mission hospitals to four stars from five last year, and reported that patients gave Mission a rating of three stars.

CMS uses a five-star quality rating system to measure Medicare beneficiaries’ experiences with their health plan and health care system. The latest ratings are based on data collected after HCA took over the mission system.

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