Albany Medical Center (N.Y.) has agreed to pay $4.5 million to settle a federal class-action lawsuit alleging Albany administrators conspired with other local hospital leaders to limit the pay of around 4,000 registered nurses, according to a Wall Street Journal report.
According to the report, around $9 million will go into an escrow account for payouts pending the conclusion of a case against Ellis Hospital in Schenectady, N.Y. Other hospital-operating companies, including those operating St. Peter's Hospital in Albany, St. Mary's Hospital in Amsterdam, N.Y., and Samaritan Hospital in Troy, N.Y., reached settlements for nurses' pay.
The lawsuit alleges that the greater Albany-area hospitals were involved in the publication of an annual survey about upstate New York hospital salaries and benefits. The lawsuit also alleges that hospitals kept nursing pay lower than the industry standard.
Albany Medical Center denies wrongdoing, as do the other involved hospital-operating companies.
Read the Wall Street Journal report on nurse pay.
Read more on compensation:
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According to the report, around $9 million will go into an escrow account for payouts pending the conclusion of a case against Ellis Hospital in Schenectady, N.Y. Other hospital-operating companies, including those operating St. Peter's Hospital in Albany, St. Mary's Hospital in Amsterdam, N.Y., and Samaritan Hospital in Troy, N.Y., reached settlements for nurses' pay.
The lawsuit alleges that the greater Albany-area hospitals were involved in the publication of an annual survey about upstate New York hospital salaries and benefits. The lawsuit also alleges that hospitals kept nursing pay lower than the industry standard.
Albany Medical Center denies wrongdoing, as do the other involved hospital-operating companies.
Read the Wall Street Journal report on nurse pay.
Read more on compensation:
-5 Statistics on Hip and Joint Surgeon Compensation
-5 Recent Disclosures on Executive Compensation
-California's Grossmont Healthcare CEO Sees $200K Raise for Increase in Duties