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Original post made
on Apr 26, 2014
Why in the WORLD would the ValleyCare Hospital Board of Directors continually have allowed the previous Executive Officer Marcy Feit to receive "two million dollars a year PLUS perks". I would think there would be some way to renegotiate her contract (especially given their poir financial condition) and any current member of the board that was involved with the hiring of Marcy Feit should resign there position. Shameful.
So if Marcy earns $2M/yr, and her two top peeps were at $1M/yr each, and the annual deficit is $3.5M, I would say "problem solved," and with $.5M to spare (plus the cost of the those mysterious perks).
Yes, I know it's not that simple. Wonder what the new guy's salary is? I bet it's $2.5M/yr because he's smart enough to dump the $4M/year cost of the three.
Call me naive, but if I had earned $2M/yr (plus perks) for several years, I would consider working pro bono for a few years, esp during a financial crisis when others are belt-tightening or being laid off.
Scott's salary is $330,000/yr. Yes Al, it is amazing that the executives at ValleyCare could collect such a huge sum and the hospital was in the RED for several years. Not to mention the recent default on $ 86 million. There were several executives, eight, I believe, collecting these "over the top" amounts. Meanwhile, the employees are the lowest paid in the Bay Area with the crummiest benefits ever. It will all come out in the wash, Al. ValleyCare has been "Top Heavy" for a long time and the gravy train is coming to an end. Scott, Do Your Thing!
Thank you, Health Care Affiliate: Good to know that Scott's salary is reasonable.
My perspective on Pleasanton's hospital is limited, consisting only of accompanying my elderly parents there, multiple times, for simple and complex issues. I watched them like a hawk, and I was impressed and grateful for the good care they got. Sorry to hear it was from staff who are not paid fairly.
To what do you attribute this long-term "top-heavyness"? Surely there is oversight? I wish we could hear that the hospital is just terrific all the way up the chain to the top.
A charitable foundation we can no longer afford. One of the biggest reasons ValleyCare is in financial debt occurred when Marcy Feit created a Charitable Medical Foundation to monopolize health care systems in Pleasanton. ValleyCare spent millions buying doctors practices and bringing in new doctors to start a new foundation. ValleyCare Medical Foundation is a charitable foundation but due to loopholes the Charitable part of the foundation has been minimized in favor of influencing doctors to refer their patients to ValleyCare for all services.
ValleyCare started this foundation to compete against similar Charitable Foundations such as Palo Alto Medical Foundation, and John Muir Medical foundations. The medical foundations bring doctors under one umbrella and as a large group they are able to negotiate higher reimbursement rates from insurance companies that in turn increase insurance rates to all the residents in the area the foundations operate. Insurance rates are determined by the costs incurred in your zip code so even residents that do not patronize the Medical Foundations end up paying higher insurance premiums. Oddly the Charitable Foundations guidelines they operate under have so many loopholes they can deny care to the poor and uninsured and still operate as “Charities”. The Charities are tax exempt as long as the Billions of revenue they generate is spent by the end of the year. In order to spend all the money the doctors, and executives have to pay themselves large bonuses. Legitimate Charities have to compete with them because Charitable Medical Foundations are also allowed to receive tax free donations like the Salvation Army. In the end everyone loses; the poor are left with limited resources, children are diverted away from Children’s Hospitals, Cancer patients are diverted away from the best cancer centers, our communities are cheated out of significant tax revenues, and everyone ends up paying more for their health care, and insurance. Of course their is always a winner with a Golden Parachute at the top of the Pyramid.
Wow, Volunteer. That's quite an indictment. I do remember an era when many of the MDs I knew of were all moving to join ValleyCare under some big umbrella. And some did not, very pointedly. I wondered what that was about, but was too busy with eldercare to research it.
Is there a way to back out of this? Are there other points of view? This is a very sad story.
Let's see, the top 3 executives of ValleyCare were knocking down more than $4 million/year for the last 20 years -- that's a total of over $80 million. And ValleyCare is in debt for $86 million. So, virtually all the debt run up over the last two decades went to pay 3 grossly overpaid executives. That's pathetic. Where in the hell was the Board of Directors doing during this time, contemplating their navels? Wasn't Ken Mercer on this board? Maybe we want to hold off on naming the sports park for him. Lots of other Pleasanton and Livermore power brokers were on the board as well.
Just to clarify the previous comment from 'Volunteer' - ValleyCare Medical Foundation and Valleycare Charitable Foundation are two separate entities. More information is available at their respective websites:
First of all if Mr. Gregerson actually quoted those salaries of 1 & 2 million dollars, then those employees must've gotten a raise since they left. In his attempt for "transparency" in previous publications he's already quoted their salaries at less than 1/2 of the 2 mil & 1 mil dollar figures he's now tossing around. Let's see what he ends up negotiating for his "package" since he's become the permanent CEO. That ol' figure of $300 thousand plus will surely be out the window.
And don't think he's "permanent". His track record is come in make big changes & leave. He's never had to live with his changes for long, but we the citizens will have to subject ourselves, families & friends with what is left of a quality patient focused organization that has taken over 50 years to build as the transition is abruptly made from community hospital to corporate hospital.
Who laid the groundwork for all of the national awards that ValleyCare has received, certainly wasn't Scott. It was the leadership that within 3 weeks are all gone due to Scott & the Board of Directors.
Be careful what you wish for.
Okay, Mr. Gregerson & Board Chairman John Sensiba have now talked so much to the press it maks even less sense. If ValleyCare had truly lost 3.5 million dollars per year for the last 5 years, then I guess the biggest question is why any of the Board is there also. Mr. Sensiba was chair of the Finance Committee prior to becoming Board President. So he totally failed as the Finance Committee chair & the Board elects him to Chair? What am I not understanding here?
The Board Finance Committee has the final say on all expenses, salaries, purchase, et. They set the administrators' salary, not Mrs. Feit. They approve the total operating budget, so hold them responsible. Hold Mr. Jensen responsible for the submission of failed budget. So he submits the 5th year of a deficit budget, resigns & walks away with his "golden handshake".
Corporate members, your work is cut out for you. You have a Community Hospital Board that has failed its' community, pointed their fingers to everyone but themselves & established a hostile work environment to the degree that all of the top patient care staff have left. These staff members were the ones who set the culture that enabled ValleyCare to win all of the awards for top care that they have done over time including their recent JCAHO award.
Now the Board brings in a retired small-hospital executive who's been running a B&B & doing real estate to become the COO.
Hold on it's almost too late to save our health care system.
Those of us who have been supporting Valley Care through the years are watching this situation with grave concern. We have options. Mr. Gregerson
was actually hired by Feit to complete a merger which he never completed.
There are board members currently serving who where trusted with the finances over the past years and now claim to have all the answers. Voting members are now looking at re-calling a few board members who should have never been put their in the first place. We are also looking a negotiations with another hospital group without the involvement of the current board.
This should not be a problem since the bylaws have been thrown out the window. Valley Care now has a realtor as COO, reporting to a Attorney, as CEO, reporting to a CPA as chairman. All we need is a clown to do the surgery and our circus is complete. We have better options!
In the above article the only thing that was said that was actually correct is that we are talking about Valley Care, other than that the rest was
It's funny how Health Care Affiliate claims the poor employees don't get paid enough? yet the board has already started laying off, cutting salaries and planning to take even more from the employees. Folks lets be real here, most of these board members tried and failed to get on other boards. Those companies were spared. Did they wake up one morning and decide they suddenly want to dedicate themselves to health Care? Or were they just desperately looking to get on a board and start their do-gooder power trips! As a soon to be ex-health care worker, I would like to see these board members pay the hospital back for their board retreats, and I would like to see background checks on them and their spouses. Lets really see who we have on the board and what their about.
People are sooo concerned over what other people make? I am a car dealer, I made $2.8 mill last year, am I over paid? you bet! that's the whole idea!
Don't forget, this is California, so if she was making $2 mill a year (which I doubt) after taxes that only nets her about $150,000 !!!! :-)
I just found out that Mr. Sensiba is a CPA. OMG Let me see if I got this straight:
*Mr. Sensiba is a CPA - I'm sure he can read budgets & financial statements
*Mr. Sensiba was the head of the Finance Committee for several years before being elected Board Chair
*Mr. Sensiba allowed the Finance Committee to approve deficit annual budgets to the tune of 3.5million/year for 5 YEARS!
* Mr. Sensibas' committee approved all of the salaries of the executives
Uhm, I guess my question is why is Mr. Sensiba still at Valley? Board & Corporate Members WHAT the heck are you thinking? This health care community deserves better.
Incompetence runs rampant in Pleasanton.
John Sensiba? I see Marty Inderbitzen is also on the board. Who appointed these board members anyway?
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