Thursday, April 09, 2009

Health Care Reform Hen House Officially Opened

President Barack Obama officially opened the White House Office of Health Reform. This came weeks after White House reformer Nancy-Ann DeParle said, "I'm open for business." That she is.

One fox sits atop the formally christened office. Nancy-Ann worked for J.P. Morgan Partners LLP, which later became CCMP Capital Advisers, a private equity underwriter (PEU) specializing in health care. Ms. DeParle sits on the board of four for-profit health care boards. Her 2007 board compensation was nearly $550,000. Her stock holdings were recently worth over $3.1 million.

Ms. DeParle sat on boards of five acquired health care companies. She grossed well over $4.1 million from those sales.

Nine board seats, over $550,000 in annual board compensation and over $7.2 million in stock holdings or sale proceeds. This doesn't include Ms. DeParle's pay as a professional PEU. Add CCMP's pay and incentive compensation and the total rises to ?.

Not only does Ms. DeParle believe in private, for-profit health care, she waves the banner for pay for performance. Nancy-Ann sat on the board compensation committee for Accredo Health, Cerner Corp. and Davita. Recall how executive incentive pay imploded Wall Street? Expect the same for health care.

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