SHS ends with targets met, employees get bonuses
In the final week before merging with UCSF, Stanford Health Services gave most of its 5,000 employees incentive bonuses equal to 1 percent of their annual salaries in recognition of their role in helping SHS meet or exceed key financial and service targets.
The SHS board on Oct. 3 approved the incentive payment for employees with satisfactory or better performance ratings, said Malinda Mitchell, SHS interim president and CEO.
Specific benchmarks and accomplishments under the incentive plan included:
- Achieving a patient satisfaction level of 8.6 on a 10-point scale for inpatients and 4.4 on a 5-point scale for outpatients. Patient surveys measured overall satisfaction with care. Mitchell noted that inpatient care exceeded the satisfaction goal, showing steady improvement in quarterly surveys taken throughout the year. A score of 8.6 in the first quarter rose to 8.88 in the third and fourth quarters. Outpatient care reached its target of 4.4, she said.
- Completion of SHS' last full fiscal year, which ended Aug. 31, with $5 million or more in revenues over expenditures. The year-end operating margin was $6.6 million. The institution's total expenditures were $569.7 million, with revenues at $576.3 million.
- Meeting the 1997 Operations Improvement goal. Employee teams exceeded the year's $19 million budget improvement target by $400,000 through institutionwide efforts to find ways to reduce costs and increase revenues by identifying new sources of income and by increasing patient volumes through new or expanded programs.
Chief of Staff