Orlando Hospital CEOs Are Non-Profiting Millionaires

Orlando Hospital CEOs Are Non-Profiting Millionaires

The CEO of Orlando’s second largest hospital system resigned last week after a year of bad press for Orlando Health, Inc.  Most of the controversy has centered around the slashing of jobs and pay for the primary asset of the hospital system: its staff of health care providers. But the hospital board’s “acceptance of resignation” (corporate-speak for firing), has nothing to do with the hospital’s troubled relations with its front line workers. As the Orlando Business Journal was quick to report, this change of guard was about one thing: the hospital’s poor financial performance. So far this year, the eight hospital conglomerate is losing  $12.2 million on its operations. (However, according to the OBJ, the hospital corporation’s investment income turns this red ink into a positive cash flow of 13.2 million dollars. Yes, you read that right: during the first three quarters this health care conglomerate generated $25 million from its capital assets!)        Continue Reading

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