CEO at California's Tri-City Medical Center Receives Bonus After Hospital Reports $15M Profit

Larry Anderson, CEO of Tri-City Medical Center in Oceanside, Calif., received a $115,000 bonus after the hospital board of directors credited his leadership for Tri-City's large financial turnaround, according to a North County Times report.

Tri-City reported a $15.1 million profit for the 2010-11 fiscal year. In the 2009-10 fiscal year, the hospital reported an $18 million loss, the report said.

Mr. Anderson's total compensation now exceeds $700,000. Board Director Kathleen Sterling opposed the bonus, saying she couldn't support it since unemployment and financial difficulties within the community still remained prevalent.

According to the report, Tri-City previously gave bonuses to all employees if the hospital met certain profitability and quality goals, but that incentive program was discontinued in 2009. Mr. Anderson said he will ask the board to restore a bonus program, but if accepted, it would not take last year's performance into account.

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