Few bonuses were paid to executives at some of the country's largest for-profit health systems in 2022 as hospital margins plummeted due to labor challenges, declining patient volumes, inflation and the rising costs of medical products.
Compensation Issues
King of Prussia, Pa.-based Universal Health Services executives saw their total compensation shrink by millions in 2022, in line with what other for-profit health systems reported, according to a proxy statement filed April 6 with the Securities and Exchange Commission.
Pharmaceutical and health insurance CEOs were among the highest-paid executives of the largest U.S. companies in 2022, according to Equilar.
The average hourly pay for registered nurses in the U.S. is $42.80, according to the most recent U.S. Bureau of Labor Statistics occupational employment statistics survey, but wages can vary based on the cost of living in every state.
Physician pay increases have not kept up with inflation rates in recent years, with average physician compensation declining by 2.4 percent in 2022 — compared with an increase of 3.8 percent the prior year, according to Doximity's 2023 "Physician Compensation…
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Oral and maxillofacial surgery was the specialty with the largest pay disparity between male and female physicians in 2022, according to Physicians Thrive's annual compensation report.
Kentucky and Tennessee have the highest median salary for physicians, according to Physicians Thrive's "2023 Physician Compensation Report."
Orthopedic physicians receive the highest average incentive bonuses and pediatric specialists the lowest.
Male physicians earned $122,000 more on average than their female counterparts in 2022, according to Physicians Thrive's annual physician compensation report.
Surgeons continue to be among the highest-paid physicians while pediatricians and those who practice family medicine remain among the lowest-paid specialists, according to Physicians Thrive's "2023 Physician Compensation Report."