Lower reimbursement rates for Medicare, Medicaid and other payors have made it critical for a hospital or health system CFO to keep the organization's revenue as tight and clean as possible. Eric Dickerson, managing director of the healthcare practice at…
Compensation Issues
The University of California regents recently approved raises for several executives within the system, including a 23 percent raise for Vincent Johnson, COO of the UC Davis Medical Center in Sacramento, Calif., according to a Sacramento Bee report.
Former Tennessee Gov. Phil Bredesen joined the board of directors for Nashville, Tenn.-based Vanguard Health Systems in October, and it is estimated his annual compensation for serving on the board is approximately $270,000, according to a Tennessean report.
Four CEOs of non-profit New York hospitals have received at least $1 million in bonus pay in 2010, according to a New York Post report.
Urology is one of the top five highest-paying medical specialties, as average compensation in 2010 for urologists hovered around $305,000, according to Medscape's 2011 Physician Compensation Survey.
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Chicago-based Northwestern Memorial HealthCare CEO Dean Harrison made approximately $9.7 million in total compensation in 2010, the highest of any Chicago hospital CEO, according to a Crain's Chicago Business report.
Full-time emergency medicine physicians, a majority who are employed by hospitals, earn an average of $239,758 per year, according to the 2011 LocumTenens.com Emergency Medicine Salary Survey (pdf).
As Porterville, Calif.-based Sierra View District Hospital narrows down its CEO search to two finalists, it is expected the salary of the new hospital leader could range between $282,000 and $394,000, according to a Porterville Recorder report.
Employees at Weslaco, Texas-based Knapp Medical Center recently lined the streets outside the hospital to protest the compensation of CEO Jim Summersett, according to a KGBT report.
From 2010 to 2011, health system base salaries increased on average by 3.1 percent, and hospital base salaries increased on average by 2.7 percent, according to a Sullivan, Cotter and Associates news release (pdf).