In a second round of cuts, Renton, Wash.-based Providence plans to reduce the salaries of 1,200 high-paid medical providers to help offset losses from the COVID-19 pandemic, according to OregonLive.
Compensation Issues
ThedaCare President and CEO Imran Andrabi, MD, will take a 50 percent pay reduction, and other members of the executive team will take a 40 percent cut to help stabilize the Appleton, Wis.-based health system's finances, according to the Appleton…
King of Prussia, Pa.-based Universal Health Services' executives and other members of its senior management team are taking salary reductions and donating their pay to a fund that provides financial support to the company's employees.
Median pay for CEOs of the biggest U.S. companies hit a new record of $13.1 million in 2019, and the leaders of 11 healthcare companies earned $21 million or more last year, according to an analysis by The Wall Street Journal.
University Hospitals, based in Cleveland, said it will temporarily cut pay for all physicians and clinical leaders in the organization to help offset losses driven by the pandemic.
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Primary care physician compensation climbed an average of 2.6 percent from 2018 to 2019, and compensation for most physician specialties also increased, according to data from the Medical Group Management Association.
Bend, Ore.-based St. Charles Health System said executives are taking pay cuts to help address financial challenges due to the COVID-19 pandemic.
Cigna is providing employers a new opportunity to help employees who may need financial assistance during the COVID-19 pandemic.
Patient billing in the era of COVID-19: How providers can take an empathetic approach to collections
Before the arrival of COVID-19, patients in the U.S. were already experiencing rising out-of-pocket costs, putting added pressure on providers to improve collections. Now, with high levels of unemployment and intensifying margin pressure for health systems, transactional interactions between healthcare…
Nurse practitioners have the lowest average annual salary in Tennessee, according to the most recent U.S. Bureau of Labor Statistics data.