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Cook County health system gets new chiefMonday, March 02, 2009
Chicago Tribune
by Hal Dardick The independent board overseeing Cook County's
vast public health system took a significant step today in its effort
to right a long-troubled system by hiring a new leader with experience
staunching the flow of red ink at a large not-for-profit medical system
and a public hospital on the West Coast.
The
Cook County Health and Hospitals System Board named William Foley, 58
-- who will make $500,000 a year with the potential for a bonus of up
to $50,000 -- as the system's new chief executive officer.
The board issued a list of CEO salaries at large public health systems
showing Foley's salary is far from the top.
"I'm
assuming the independent board has vetted him and believes that's what
it will take to get the right person for this job," said Commissioner
Larry Suffredin (D-Evanston). "In the long run, if he does his job
right, he's going to save us a lot more money than if we hire someone
for less money who can't do the job right."
For five years until
late 2006, Foley was CEO of Provena Health, a Catholic system that
includes six hospitals. When he started, the system was operating $28
million in the red, and by 2005, it was about $31 million in the black.
In
April 2007, he was working for Chicago-based Huron Consulting Group's
Wellspring Partners, hired in Monterey County, Calif., to turn around
its 172-bed public hospital. The $150 million-a-year operation went
from losing $25 million a year to $10 million in net income.
Cook
County Board President Todd Stroger last year agreed to the formation
of the independent health board in exchange for Suffredin's support of
a county sales tax hike.
"I think they have found a good man," Stroger said.
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