According to an analysis by Axios, 62 CEOs of health care companies earned over $1.1 billion combined in 2018 when accounting for the true value of cashed-out stock.
Compared to the U.S. health care system's $3.7 trillion in spending, $1.1 billion seems like nothing. But it's also 14% more than the amount spent by the Centers for Disease Control and Prevention on chronic disease prevention in 2018.
Last year, CEO of Community Health Systems Wayne Smith received a $3.3 million bonus—4 times his cash bonus in the year prior. Under his direction, his hospital chain lost $788 million and continued to sell off hospitals as a result of a failed merger in 2014. His bonus was calculated by an "adjusted metric" that painted CHS as profitable, and hospital quality was not taken into account when calculating his bonus.