Ponder the toxic effects of too much wealth, too much power, the new culture of American investment banking, and a life conducted within the cocoon of America's new oligarchy. [p 112]
He focused on the culture of finance, but as we have seen, this culture has overlapped the culture of health care. Thus we have shown multiple examples of those who have become rich due to their positions in health care, almost always positions as high-ranking hired managers of health care organizations. They get paid according to different rules than apply to other hired employees, and live by different rules than their less-favored fellow employees, again by virtue of their positions.
Some of these examples were of CEOs of huge, for-profit health care corporations, However, we have increasingly seen hired managers of moderate size non-profit organizations who also appear to play by different rules than their fellow employees.
The Executives of Lancaster General Health
The latest example appeared through reporting found in LancasterOnline, the web presence of several newspapers in Lancaster, Pennsylvania, about a regional community health care system, Lancaster General Health. The system includes one major hospital, Lancaster General, an obstetrics hospital, and a variety of satellites and out-patient facilities.
The system was facing challenges in 2010:
In 2010, times were getting tougher for Lancaster General Health.
The mammoth [sic] health care system would notch record revenues of nearly $1 billion that year. But its annual surplus fell for the fourth straight year. Though destitute by no means, galloping expenses and uncertainty in the marketplace were hammering LGH's business model, prompting changes. Two units were closed, some positions were eliminated, and 170 employees were reassigned.