Senator urges oversight of hospital executive pay as committee approves oversight LSR

A senator presenting an LSR on oversight of hospital executive compensation said Medicaid funding pressures and layoffs at small hospitals have coincided with large CEO pay and bonuses. "Some of our smallest hospitals, the CEOs are collecting nearly $1,000,000 dollars, and at the same time they're laying off people and restructuring because they say they can't afford to do it," the sponsor said, urging review and oversight.

The proposed LSR would provide legislative oversight of executive compensation practices tied to facilities that receive public funds or are otherwise dependent on state financing, and would allow for examination of bonus practices when mass layoffs occur. The committee moved and approved the LSR by voice vote with no recorded opposition; the approval sends the request to OLS for drafting and further committee consideration.

Provenance: Topic introduced beginning near SEG 619 and committee approval recorded by SEG 656.

Speakers quoted or referenced: Senator (unnamed, speaker 11).