All Aspects of the Business are Being Examined

Does this mean executive compensation will be part of the formula? Probably not:

The head of the company that runs Kingston and Benedictine hospitals said on Wednesday that all aspects of the business are being examined painstakingly in an effort to cut operating costs.

David Lundquist, the president and chief executive officer of HealthAlliance of the Hudson Valley, addressed an Ulster County Regional Chamber of Commerce breakfast at the Kingston Holiday Inn nearly four weeks after the company announced it might close one of the two hospitals because of mounting financial losses.

“We are diving deep and wide,” Lundquist told the business group. “We are looking at every piece of the puzzle to be sure we don’t overlook anything.

As a good-fath gesture, HealthAlliance execs should impose a voluntary 30-percent salary cut. Here are the current salaries for these folks (courtesy of the Freeman):

• Lundquist received total compensation, including benefits, of $568,391.07 in 2011. His base pay was $540,832.55, which was $27,760 higher than his base pay in 2010.

• Dr. Frank Ehrlich, chief medical officer, received total compensation of $312,418 in 2011. His base pay was $300,007.53, up from $294,704 in 2010.

• John Finch, chief information and community officer, received total compensation of $246,777.50 in 2011. His base pay was $218,424.96, down from $219,687 in 2010.

• Charles Flinn, chief operating officer, received total compensation of $290,657 in 2011. His base pay was $275,008.55, up from $268,173 in 2010.

• Margo McGlivrey, chief nursing officer, received total compensation of $218,897.18 in 2011. Her base pay was $200,011.55, up from $197,679 in 2010.

• Joshua Ratner, chief strategist, received total compensation of $236,555 in 2011. His base pay was $215,007, up from $207,011 in 2010.

• David Scarpino, chief financial officer, received total compensation of $298,406.40 in 2011. His base pay was $275,008, up from $271,789 in 2010.

• Robert Seidman, chief administrative officer, received total compensation of $295,285.34 in 2011. His base pay was $264,200.04, up from $259,574 in 2010.

• Joseph Marsicovete, chief quality officer, received total compensation of $231,687.95 in 2011. His base pay was $221,393.27. (Marsicovete’s 2010 information was not provided, and it was not immediately clear if he worked for HealthAlliance that year.)

None of these people would be hurt terribly by such a cut, though one or two might have to delay purchasing a weekend home, a luxury car, or an expensive vacation -- things the rest of us do without entirely.

I'm not going to hold my breath on this, however. Still it's worth bringing up the ridiculous wages these executives pay themselves while the company continues to flounder.