BUSINESSHospital CEO salaries show modest increaseConsultants say hospitals pay and compensate CEOs differently now than in 1990s.By Katherine Vogt, amednews staff. Nov. 3, 2003. Annual pay hikes for hospital chief executives have leveled out in the last few years as the hospital industry has stabilized after a decade of growth and mergers, consultants say. An annual compensation survey by the national professional services firm the Hay Group showed steady, modest increases over three years with hospital CEOs earning a midpoint base pay of $231,000 in 2001, $237,700 in 2002 and $238,500 this year, meaning half of CEOs earned more than the figure and half earned less. The survey included information from more than 800 participants, mostly general acute care hospitals. The single-digit gains may reflect a new era in compensation for hospital chief executives, said Keith Southerland, senior vice president of the Illinois-based executive search firm Witt/Kieffer. "I think [pay and compensation] will grow incrementally," he said. "I don't think you'll see tremendous spikes as we did in the wild 1990s." Southerland said hospitals are increasingly offering chief executives complex compensation packages that include more than just a base salary. Indeed, while the Hay Group found that the average base pay of a hospital chief executive was $250,700 in 2003, the average total cash award to that person was $305,200. [...]Full text of American Medical News content is available to AMA members and paid subscribers.
Copyright 2003 American Medical Association. All rights reserved.
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