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Doctors, unions back bill to cap hospital CEO pay and require financial transparency
Summary
Physicians, union leaders and hospital workers testified in favor of S.899/H.1398, which would cap hospital CEO pay at 50 times the lowest paid full‑time worker, require public disclosure of hospital assets and redirect penalties into a Medicaid reimbursement enhancement fund.
A coalition of physicians, resident doctors and labor leaders urged the Joint Committee on Healthcare Finance to give a favorable report to Senate Bill 899 and House Bill 13‑98, measures the witnesses said would increase transparency of hospital finances and limit excessive executive compensation.
The bills would require mandatory public reporting of hospital financial assets, cap annual CEO compensation at no more than 50 times a facility’s lowest paid full‑time employee, and impose penalties for hospitals that exceed specified operating margins; collected penalties would be deposited into a proposed Medicaid Reimbursement Enhancement Fund (MREF) to boost Medicaid rates and services.
Why it matters: Testifiers argued the…
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