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.
Related Articles on Hospital CEO Compensation:
New Jersey’s Hoboken Municipal Hospital Authority Defends Former CEO’s Buyout
Top 9 Executives at California’s El Camino Hospital Receive Salary Increases
Boston-Area Non-Profit Teaching Hospital CEO Compensation Flat
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
