Top executives for the 182-hospital health system will be eligible to earn performance awards based on achieving specific targets, weighted as:
- 80% for hitting EBITDA targets
- 20% for hitting quality metrics targets
The EBITDA targets are focused equally on the company EBITDA and the EBITDA of the leaders’ respective groups. The quality metrics are based on healthcare-associated infections and sepsis, complications and mortality and care experience.
If targets are met, CEO Samuel Hazen will receive 170% of base salary while Jon Foster, executive vice president and COO, will receive 125% of base salary and Michael McAlevey, senior vice president and chief legal officer, will receive 85% of base salary, which will be increased to 100% on April 1.
The performance excellence program incentives will be paid in cash and calculated by the board’s compensation committee. If HCA’s actual EBITDA is less than 90% of the target level of EBITDA, the company will not pay the quality weighted portion of the program, according to the filing.
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