Financial Penalties for BIDMC CEO Paul Levy Don't Undo Damage
Right now, the board is discussing whether to require Levy to repay the hospital for a severance package that was given to the woman when she left her job last year at Beth Israel Deaconess-Needham, as well as withholding bonus money from him this year.
Well, it's a start.
As a CEO, you make enemies. It's unavoidable. People who feel marginalized by your power—no matter how lightly it's wielded—look for ways to exact little revenges. In this case, one of those people used an anonymous letter to do so. Your only recourse is your good faith and your honesty. If those are compromised, your leadership position can quickly become untenable.
In this particular case, I'm not sure whether Paul Levy can continue his run of success at the hospital. The damage goes well beyond the limits of the person, of course, because he's the leader of one of the most important healthcare organizations in the country. How does one calculate the losses that Beth Israel faces in terms of developing teamwork among its clinicians and staff? How does it calculate the perceived loss of political capital from Levy's personal missteps? What happens the next time its CEO is confronted with a tough decision about layoffs? Nobody knows, but we're going to find out.
Like attempting to place a dollar value on a reputation, those losses are incalculable, and paying them back is next to impossible.
Yet they exist.
Note: You can sign up to receive HealthLeaders Media Corner Office, a free weekly e-newsletter that reports on key management trends and strategies that affect healthcare CEOs and senior leaders.
Philip Betbeze is senior leadership editor with HealthLeaders Media.
- The Secret to Physician Engagement? It's Not Better Pay
- Two-Midnight Rule Must be Fixed or Replaced, Say Providers
- Don't Underestimate Emotional Intelligence
- Yale New Haven Health Partners with Tenet Healthcare in CT
- Care Coordination Tough to Define, Measure
- 4 Reasons PCMH Principles Aren't Going Away
- Size Matters in Antibiotic Overuse
- Evidence-Based Practice and Nursing Research: Avoiding Confusion
- CDC Warns of Antibiotic Overuse in Hospitals
- SCOTUS Review of NC Board Case 'A Very Big Deal' to Providers