Health care CEOS testifying in front of Senate Finance Committee in 2019. Photo: Win McNamee/Getty Images

Our latest tally shows 62 health care CEOs made a combined $1.1 billion in 2018 when calculating the actual value of cashed-out stock.

Between the lines: $1.1 billion is basically a rounding error within the $3.7 trillion U.S. health care system. But it’s also $157 million more than what the Centers for Disease Control and Prevention spent in 2018 on chronic disease prevention.

A few things jumped out in our latest scan:

  • Wayne Smith, CEO of Community Health Systems, earned a $3.3 million bonus last year — 4 times his cash bonus from 2017 — even though his hospital chain lost $788 million and continued to sell off hospitals from a failed 2014 merger that he orchestrated (and now regrets). Smith’s bonus was heavily weighted by an adjusted metric that made CHS look profitable, and none of his bonus was tied to hospital quality.
  • Philadelphia's public employee pension plan is asking CVS Health shareholders to support a resolution that would require CVS not to exclude opioid litigation costs when considering executive bonuses. CVS isn’t a fan of that.
  • Joe Hogan leads Align Technology, the maker of Invisalign clear braces and various dental scanners, and he made $70 million in 2018 — 4th highest among health care companies that have reported so far.

Go deeper: Follow our health care executive pay tracker

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New York City schools will not fully reopen in fall

Photo: Spencer Platt/Getty Images

New York City Mayor Bill de Blasio announced at a press conference on Wednesday that schools will not fully reopen in fall, and will instead adopt a hybrid model that will limit in-person attendance to just one to three days a week.

Why it matters: New York City, once the epicenter of the coronavirus outbreak in the United States, is home to the nation's largest public school district — totaling 1,800 schools and 1.1 million students, according to the New York Times. The partial reopening plan could prevent hundreds of thousands of parents from fully returning to work.

Treasury blames lenders for PPP disclosure debacle

Illustration: Aïda Amer/Axios

The U.S. Treasury Department is pointing the finger at lenders for errors discovered in Monday's PPP data disclosure.

What they're saying: "Companies listed had their PPP applications entered into SBA’s Electronic Transmission (ETran) system by an approved PPP lender. If a lender did not cancel the loan in the ETran system, the loan is listed," a senior administration official said.

Updated 49 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 10:30 a.m. ET: 11,863,477 — Total deaths: 544,949 — Total recoveries — 6,483,402Map.
  2. U.S.: Total confirmed cases as of 10:30 a.m. ET: 2,996,679 — Total deaths: 131,486 — Total recoveries: 936,476 — Total tested: 36,878,106Map.
  3. Public health: Deaths are rising in hotspots — Déjà vu sets in as testing issues rise and PPE dwindles.
  4. Travel: How the pandemic changed mobility habits, by state.
  5. Education: Harvard and MIT sue Trump administration over rule barring foreign students from online classes.
  6. 🎧 Podcast: A misinformation "infodemic" is here.