NURSING HOME EXECS MAKE BIG MONEY!
The corporate owners of America’s nursing homes complain loudly that they are losing money! The CEOs say that the Medicaid payments, which pay for about two-thirds of their residents, are not enough to cover operating costs.
Is this claim true or false? I don’t have the answer but do find it curious that these corporations pay their executives a handsome salary! How can the corporations pay these kinds of salaries and benefits if they are losing money?
Last year, for example, Edward Kuntz, Kindred’s CEO, was paid $4.9 million in salary and other compensation as well as restricted stock and options valued at $7.9 million, a company filing shows.
Paul Ormond, who runs Manor Care Inc., took home $2.5 million in salary and other compensation as well as stock options valued at $5.6 million.
Beverly’s CEO, William Floyd, got $1.3 million plus stock options worth $2.3 million more.
Source: St. Louis Today