"Physical therapy is not a subspecialty of the medical profession and physical therapists are not medical doctors; we are a separate profession that provides a unique service that physicians are unable and untrained to provide."

Letter to the AMA from the APTA, Dec 2009

Friday, December 16, 2011

Healthcare CEOs Richest 1% in North America

Healthcare CEOs are the among the richest American executives across all industries.

Three of the top-earning 10 executives across all industries were in healthcare:
  • Healthcare company McKesson Corp. Chief Executive John Hammergren topped the list with nearly $145.3 million in compensation in 2010
  • Following McKesson is Omnicare's CEO in second place for the highest paid exec with $98.3 million
  • Former CEO of health insurance company Aetna Ronald Williams received a total of $57.8

"The survey, called the most extensive study of CEO pay in North America, demonstrates the widening gap between incomes, especially in light of protesters of Occupy Wall Street who call attention to "the 1 percent," reports The Guardian."
The salary survey was performed by research group GMI Ratings:
“The 36.5 percent increase in realized compensation is particularly notable when it’s put in context of the modest growth of the economy in 2010 and general public company performance last year,” said Paul Hodgson, Chief Communications Officer and Senior Research Associate at GMI"
In a time when workers, patients and private practice physical therapists are struggling the income granted to these individuals seems excessive.

Their claim to create "value" for all stakeholders, not just the chareholder, seems unfounded.

Who else thinks America's market-based system has come off the rails - at least in healthcare?

The advantage of capitalism over central planning is that it distributes resources MORE efficiently.

This story suggests that WINNER TAKE ALL is the new normal.


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Tim Richardson, PT owns a private practice at Medical Arts Rehabilitation, Inc in Palmetto, Florida. The clinic website is at MedicalArtsRehab.com.

Bulletproof Expert Systems: Clinical Decision Support for Physical Therapists in the Outpatient Setting is a manager's workbook with stories, checklists, charts, graphs, tables, and templates describing how you can use paper-based or computerized tools to improve your clinic's Medicare compliance, process adherence and patient outcomes.

Tim has implemented a computerized Clinical Decision Support (CDS) system in his clinic since 2006 that serves as a Reminder, Alerting, Prompting and Predicting CDS using evidence-based tests and measures.

Tim can be reached at
TimRichPT@BulletproofPT.com .

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American Physical Therapy Association

American Physical Therapy Association
Consistent with the American Physical Therapy Association Vision Statement for Physical Therapy 2020, the American Physical Therapy Association supports exclusive physical therapist ownership and operation of physical therapy services.