This week, Salinas (Calif.) Valley Memorial Healthcare System named Matt Gerlach as its new president and CEO, and because of controversy that previously surrounded the health system, Mr. Gerlach's starting salary will be lower than his predecessor's.
Compensation Issues
More than 80 percent of hospitals and health systems have short-term incentive plans for at least one of their executives, and CEO incentives usually average between 30 and 35 percent of base salary, according to data from Sullivan, Cotter and…
New York's North Country, a stretch of six northern counties that covers more than 400,000 people, contains several hospitals, but CEO salary varied widely at those hospitals, according to a Press-Republican report.
Ophthalmologists have typically recorded high compensation figures in private practice over the past several years, but now they are among the highest-paid hospital-employed specialties.
The top 10 executives within Charlotte, N.C.-based Carolinas HealthCare System recorded total compensation of more than $19.4 million in 2012 — an increase of more than 11 percent from 2011, according to a Charlotte Observer report.
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Recently, a Newsday report found that Stony Brook (N.Y.) University Hospital dished out the second-most overtime pay among state-owned organizations, but hospital executives defended their overtime practices, saying it provides the hospital flexibility while minimizing costs.
Here are the 11 latest hospital executive and physician compensation stories from the past month, starting with the most recent.
As payors began to experiment with value-based payment models and reduced costs for services, physicians experienced large decreases in their pay rates last year, according to a survey from Physicians Practice, a business publication for physicians.
CEOs of hospital districts usually have lower compensation packages than private, non-profit systems and for-profit hospitals, and in California, the median salary of a hospital district CEO in 2010 was $230,990, according to data from Payers & Providers.
W-2 forms must now report the employer's cost and employee's contribution into company health plans as part of the federal healthcare law.