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Wealthy & wise? To compete, hospitals are recruiting top physicians with over-the-top money; what remains to be seen is if profit margins are worth the expense.

Publication: Crain's New York Business
Publication Date: 04-NOV-02 		Format: Online - approximately 1099 words
Delivery: Immediate Online Access
Full Article Title: Wealthy & wise? To compete, hospitals are recruiting top physicians with over-the-top money; what remains to be seen is if profit margins are worth the expense.(Special Report: Health Care)

Article Excerpt
Byline: Mary Sisson

In the late 1990s, st. luke's-roosevelt hospital center was experiencing serious financial problems. Administrators wanted to boost the hospital's medical offerings to attract more patients, so they did what many New Yorkers do when stressed: They went shopping-for talent, that is.

The hospital recruited renowned breast surgeon Dr. Alison Estabrook to create the hospital's Comprehensive Breast Center. Her job was to pull together the staff and technology to develop a full-service breast program. ``I really consider myself not just a physician, but someone who built a center,'' Dr. Estabrook says.

The hospital got its breast center, but it didn't come cheap. In 2000, St. Luke's-Roosevelt, which is part of Continuum Health Partners, paid Dr. Estabrook $1.1 million.

She is not alone in becoming a million-dollar doctor. In 2000, the latest year that figures are available, New York City hospitals paid $1 million or more in salary to 14 physicians, all of them surgeons. That compares with the $124,770 average salary of...

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