Report: Compensation for Maine Hospital Execs Above Average

A recent report by the Lewiston (Maine) Sun-Journal found that executive compensation at Maine’s six largest hospitals was well above the 2006 national average of $490,000, according to a report by WBZO 38 News.

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One hospital paid its CEO $3 million in compensation in 2007-2008, including a bonus when the CEO left the facility, according to the report.

At a different location, a CEO was paid $790,000 ($466,000 in salary and nearly $324,000 in benefits and deferred compensation) in 2005-2006. A year later, the compensation package rose to nearly $2 million, which hospital officials attributed to $929,000 in retirement contributions, according to the report.

The report also noted that some Maine hospitals are trimming executive salaries to save money and to eliminate the need for cuts that would affect lower-paid employees and patients, according to the report.

Read the WBZO report on Maine hospital CEO compensation.

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