All 60 members of the executive team at Houston-based Texas Children's Hospital have taken a 20 percent pay cut amid the COVID-19 pandemic, the hospital announced April 22.
Compensation Issues
Senior executives at hundreds of public U.S. companies have adjusted their salaries as pay cuts, furloughs or layoffs affect non-managerial workers amid the coronavirus pandemic.
Compensation for three top leaders at UnitedHealth Group totaled nearly $50 million in 2019, according to a proxy filing with the Securities and Exchange Commission.
Ronald Rittenmeyer, the executive chairman and CEO of Dallas-based Tenet Healthcare, saw his 2019 compensation increase more than 62 percent in 2019, boosted mainly by year-over-year growth in stock awards, according to filings with the Securities and Exchange Commission.
Molina Healthcare is giving employees bonuses and accelerating payments to providers to help with costs related to COVID-19, the health insurer said April 15.
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Geisinger President and CEO Jaewon Ryu, MD, and the rest of the Danville, Pa.-based health system's executive team have volunteered to take pay cuts and donate the funds to an employee emergency assistance fund.
The CEO and vice presidents at West Virginia University Medicine will take salary cuts as the Morgantown-based health system's hospitals face "significant and unsustainable financial strain" due to the COVID-19 pandemic, according to information the health system shared with Becker's Hospital Review April 9.
The CEO and executive leadership team at Mount Sinai Health System will take pay cuts to help offset the significant COVID-19 costs the New York City-based health system is facing.
Envision Healthcare said it has cut salaries of its senior leaders in half and plans to cut salaries of nonclinical employees and furlough them.
Franklin, Tenn.-based Community Health Systems' top executives are giving up part of their compensation for the remainder of this year, according to an April 8 filing with the Securities and Exchange Commission.