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In mid-March, as Oregon health officials braced for a crush of COVID-19 cases, Gov. Kate Brown ordered hospitals to postpone elective surgeries to ensure adequate bed space and equipment for coronavirus patients.
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Patient volumes and accompanying revenues are “beginning to recover” at Oregon Health & Science University, but the institution expects the next 12 to 24 months to be financially lean as a recession grips the region, administrators said in a report to the board.
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Oregon’s big hospital systems were sitting pretty just three months ago after years of steady growth and profits. But now they’re grappling with the sudden monetary fallout of the coronavirus pandemic.
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The operating margins at Oregon hospitals continued their upward spiral following an analysis of second quarter financial reports obtained by The Lund Report.
This is from The Lund Report's 2014 look at hospitals. It has been re-printed as we revisit these hospitals in 2015.
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Some of the nation’s biggest healthcare companies have relatively small footprints in Oregon.
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These are tumultuous times for St. Charles Health System. The nonprofit is losing its CEO and slashing its budget, and at the same time preparing to spend millions on new construction to upgrade some of the state’s smallest hospitals.
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How well are Oregon’s hospitals meeting local needs? Are they making smart decisions about their money? Today, The Lund Report runs the fourth in a series of stories exploring hospitals across the state.
This project begins with a review of more than 50 hospitals licensed to operate in Oregon. These stories look at profit margins, hospital size and reach, and touch briefly on executive compensation. Part 1 profiled Providence Health System’s eight hospitals. Part 2 examined Legacy Health’s four Oregon hospitals. Part 3 visited with hospitals owned by four small chains: Kaiser, Asante Tuality and Salem Health. Today, we dig in to Samaritan Health Services. Click on the accompanying Excel spreadsheets for a look at the data collected: a breakdown of Samaritan's finances and a list of what Samaritan top brass were paid in 2012.
After examining the details of every Oregon-licensed hospital, The Lund Report will follow up with stories that dive deep into the facts we’ve uncovered. We’ll ask about profits, compensation and the cost of caring for the poor.
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Non-profit hospitals across the state have a mission to serve their community, but an analysis by The Lund Report revealed that many of their CEOs are doing quite well for themselves, too. Across the spectrum of Tuality, Salem , Kaiser Permanente and Asante networks, hospital CEOs were well rewarded for their work.
Dr. Ashish Jha, professor of health policy and management at the Harvard School of Public Health, recently completed a study of executive compensation at every nonprofit hospital in the country. He found that typical CEOs earn between $400,000 and $500,000 –more at large institutions, or if they oversee more than one hospital, and less if they work in rural areas. Jha’s research looked at total reported compensation, a figure that includes actual pay as well as benefits like retirement plans and other benefits that executives don’t bring home.
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The bonuses are back. After offering almost no bonuses in 2011, Oregon-based Legacy Health brought back incentive pay for its executives in 2012, paying out more than $881,000 to its 13 highest paid executives on staff.
That’s just one of the findings in this latest installment of The Lund Report’s ongoing review of Oregon hospitals.
