Skip to main content

Privatization is paying off big time (for the bosses)


Corporate health care bosses are making out like bandits in the homeland of health care privatization - -the USA.  Healthcare and pharmaceutical executives were four of the top 10 best paid executives in the United States in 2010, the British Medical Journal (BMJ) reports.  
John Hammergren, chief executive of the drug distributor McKesson Corp, was the top earner, with total remuneration of $145 266 971 (US).  If he were to be fired, he would receive $469m in severance pay.  That might make up for the shock.


Number two was Joel Gemunder, chief executive of Omnicare, a geriatric pharmaceutical care company.  He earned $98, 283 242 when he retired in 2010. With an income like that, it's OK to be number 2.  


Fifth highest paid boss was Thomas Ryan, head of the CVS Caremark pharmacy chain. He received $68 079 823.
Ninth in pay was Ronald Williams, chief executive of the Aetna health insurance firm, who squeaked  into the top ten with a final pay cheque of $57, 787 786. Poor guy.
Overall, CEO pay increased 27% in 2010. 


In 2010 the median US household income was $49 445, a 2.3% decline from 2009. The BMJ adds:  "The nation’s poverty rate was 15.1%, the third consecutive annual increase in the poverty rate. The number of people without health insurance increased from 49 million to 49.9 million."



A lot of corporate types want more health care privatization in Ontario too. 

I can't imagine why.


Tomorrow: comments on Drummond's recommendation for (among other items) health care privatization.



Correction: at one point in yesterday's note, the OHC Emergency Assembly was reported to be on Saturday February 23.  The correct date is, of course, Saturday February 25. Apologies for any confusion.

Comments

Popular posts from this blog

Health care funding falls, again

Real provincial government health care funding per-person has fallen again this year in Ontario, the third year in a row.  Since 2009 real funding per-person has fallen 2.6% -- $63 per person. 

Across Canada real per person funding is in its fourth consecutive year of increase. Since 2009, real provincial funding across Canada is up $89 -- 3.6%.
In fact the funding gap between Ontario and Canada as a whole has gown consistently for years (as set out below in current dollars).

Ontario funds health care less than any other province -- indeed, the province that funds health care the second least (B.C.) provides $185 more per person per year, 4.7% more.  
Provincial health care spending in the rest of Canada (excluding Ontario) is now  $574 higher per person annually than in Ontario. 

 Ontario has not always provided lower than average health care funding increases-- but that has been the general pattern since 2005.
Private expenditures on health care have exceeded Ontario government increases …

Ontario long-term care staffing falls far short of other provinces

CUPE and others are campaigning for a legislated minimum average of four worked hours of nursing and personal care per resident per day in long-term care (LTC) facilities.  New research indicates that not only is LTC underfunded in Ontario, it is also understaffed compared to the other provinces. 
LTC staffing falls short:  The latest data published by the Canadian Institute for Health Information (and based on a mandatory survey undertaken by Statistics Canada) indicates that staffing at long-term care (LTC) facilities falls far short of other provinces. 
Part of this is driven by a low level of provincial funding for LTC.





Ontario has 0.575 health care full-time equivalent employees (FTEs) per bed staffed and in operation.[1]  The rest of Canada reports 0.665 health care FTEs.[2] The rest of Canada has 15.7% more health care staff per bed staffed and in operation than Ontario.[3] 


No other province reports fewer LTC health care staff per resident (or per bed) than Ontario.[4]

Occupancy r…

Six more problems with Public Private Partnerships (P3s)

The Auditor General (AG) has again identified issues in her annual reportwhich reflect problems with Ontario health care capacity and privatization.   First, here are six key problems with the maintenance of the 16 privatized P3 ("public private partnership") hospitals in Ontario:
There are long-term ongoing disputes with privatized P3 contractors over the P3 agreements, including about what is covered by the P3  (or “AFP” as the government likes to call them) contract.The hospitals are required to pay higher than reasonable rates tothe P3 contractor for  maintenance work the contractor has deemed to be outside of the P3 contract. Hospitals are almost forced to use P3 contractors to do maintenance work the contractors deem outside of the P3 contract or face the prospect of transferring the risk associated with maintaining the related hospital assets from the private-sector company back to the hospitalP3 companies with poor perf…