Alan Miller, chairman and CEO of Universal Health Services in King of Prussia, Pa., received nearly $13.2 million in fiscal year 2013, a 13 percent increase from 2012, according to a filing with the Securities and Exchange Commission.
Mr. Miller's salary rose to $1.5 million, and he also received hefty payouts for stock option awards ($7.8 million) and bonuses ($2.3 million). Mr. Miller earned more than $1.4 million in other perquisites, such as $1.3 million in long-term disability insurance premiums, $25,000 for professional tax services and $12,025 for county club dues.
The next highest-paid UHS executive was Mr. Miller's son, Marc, who serves as president. He earned $2.5 million. UHS CFO Steve Filton made $1.9 million in 2013, compared with $1.4 million in 2012. Marvin Pember, senior vice president and president of UHS' acute-care division, took home $2.4 million in 2013.
UHS executives have routinely been among the highest-compensated in the hospital industry, as the investor-owned hospital chain is one of the most profitable. In FY 2013, net profit at UHS increased 15.2 percent to $510.7 million, while operating income topped $1 billion.
Most of the company's finances are tied up in its behavioral health hospitals: UHS owns 174 behavioral health hospitals compared with 24 acute-care hospitals. The average operating margin at a UHS acute-care hospital is 14.8 percent, which is far above the national average of all U.S. hospitals.
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