HOSPITAL CEO SALARIES in USA : SOME EXAMPLES
Here are a few examples to give you an idea....
- Joseph Quagliata, CEO of Oceanside-based South Nassau Communities Hospital, who earned $838,000 in 2004: $479,000 in base salary, $136,000 in incentives and $235,000 through a supplemental retirement plan.
- Richard Murphy, CEO of Good Samaritan and St. Charles hospitals, led the Island pack in 2004, raking in about $2 million, including about $1 million in retirement pay, which he receives every five years
- Chief Executive of St. Francis Hospital Dr. Alan Guerci totaled $1.8 million in 2004 compensation: a $517,000 salary, $230,000 in bonuses and slightly more than $1 million through an executive retirement plan payment he receives once every five years - in 2005 it dropped to 745,000/$
- Kenneth Roberts, president of John T. Mather Memorial Hospital in Port Jefferson, earned about $455,000 in 2004
Source : Hospital CEOs earning very Healthy Paychecks
- CEO Sam Wallace of the Iowa Health System is paid more than $1.3 million per year, plus $1.2 million per year in deferred compensation and other benefits.
Source
- At Health Quest Systems, former chief executive officer Ronald Mullahey’s total compensation added to $1.88 million in 2004 and with its then executive vice president, chief operating officer and chief financial officer Richard Henley’s total compensation at $938,575 for the same year.
Source
While CEO making those big bucks may be true for a a big system of hospitals, small hospitals or groups may often see CEOs earning lesser than the head physicians. In fact, I did read about a physician whose salary was cut after he took a CEO position at the same place he worked as a physician. And I kick myself for not bookmarking that news URL.
Q. How to become a Hospital CEO ?
A. That's a tough question simply because there is no fixed career track or pathway that makes a person a Hospital CEO. Education wise management degrees like Masters in Health Administration (MHA), Hospital MBA or even plain MBAs are certainly a good start. After that most people climb the rungs of the corporate ladder through various positions, experiences, networking, political savvyness, personality and current knowledge of course! At times you may get lucky like my MHA classmate who landed his first job as the CEO of a very small, rural hospital right after completing an MHA :-)
But, to get those high 6-figure salaries, its gonna be a long way to go and keeping tabs on the latest hospital and medical care market trends. Being a member of the networking organizations like Americal College of Healthcare Executives (ACHE) and Medical Group Management Association (MGMA) is highly recommended.
Also Read:
Who's the Boss ? - The MD or The Hospital Manager?
Search keywords to this blog article:
- "becoming a hospital ceo"
- "ceo salary vs md"
- "how to become a Hospital CEO"
- "mha vs mba salary" = MBAs make a little more, since MBA covers a wider scope, and a better chance at corporate medical companies - while MHAs have a better chance in the hospital / health care sector
- Joseph Quagliata, CEO of Oceanside-based South Nassau Communities Hospital, who earned $838,000 in 2004: $479,000 in base salary, $136,000 in incentives and $235,000 through a supplemental retirement plan.
- Richard Murphy, CEO of Good Samaritan and St. Charles hospitals, led the Island pack in 2004, raking in about $2 million, including about $1 million in retirement pay, which he receives every five years
- Chief Executive of St. Francis Hospital Dr. Alan Guerci totaled $1.8 million in 2004 compensation: a $517,000 salary, $230,000 in bonuses and slightly more than $1 million through an executive retirement plan payment he receives once every five years - in 2005 it dropped to 745,000/$
- Kenneth Roberts, president of John T. Mather Memorial Hospital in Port Jefferson, earned about $455,000 in 2004
Source : Hospital CEOs earning very Healthy Paychecks
- CEO Sam Wallace of the Iowa Health System is paid more than $1.3 million per year, plus $1.2 million per year in deferred compensation and other benefits.
Source
- At Health Quest Systems, former chief executive officer Ronald Mullahey’s total compensation added to $1.88 million in 2004 and with its then executive vice president, chief operating officer and chief financial officer Richard Henley’s total compensation at $938,575 for the same year.
Source
While CEO making those big bucks may be true for a a big system of hospitals, small hospitals or groups may often see CEOs earning lesser than the head physicians. In fact, I did read about a physician whose salary was cut after he took a CEO position at the same place he worked as a physician. And I kick myself for not bookmarking that news URL.
Q. How to become a Hospital CEO ?
A. That's a tough question simply because there is no fixed career track or pathway that makes a person a Hospital CEO. Education wise management degrees like Masters in Health Administration (MHA), Hospital MBA or even plain MBAs are certainly a good start. After that most people climb the rungs of the corporate ladder through various positions, experiences, networking, political savvyness, personality and current knowledge of course! At times you may get lucky like my MHA classmate who landed his first job as the CEO of a very small, rural hospital right after completing an MHA :-)
But, to get those high 6-figure salaries, its gonna be a long way to go and keeping tabs on the latest hospital and medical care market trends. Being a member of the networking organizations like Americal College of Healthcare Executives (ACHE) and Medical Group Management Association (MGMA) is highly recommended.
Also Read:
Who's the Boss ? - The MD or The Hospital Manager?
Search keywords to this blog article:
- "becoming a hospital ceo"
- "ceo salary vs md"
- "how to become a Hospital CEO"
- "mha vs mba salary" = MBAs make a little more, since MBA covers a wider scope, and a better chance at corporate medical companies - while MHAs have a better chance in the hospital / health care sector
Labels: CEO Salaries, Hospital CEO Salaries
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posted by Digitaldoc, MD at 7:09 PM
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Post Your Comment !Truly (really) helpful articles, especially on MBA/MHA
Of course a CEO should make more than any employee of any organization. For the article to state that a doctor has to work harder than a CEO who got to that position had to is to very seriously misunderstand just how hard it is to get to that role and to maintain it. A doctor works for 80 hours a week, a CEO works for 168 that week. A CEO is always "on", always networking, always meeting and always thinking. They don't "vacation" for 2 weeks, they network while their family goes on a trip. They are always researching, and balancing. A doctor thinks about patients, a CEO is thinking how to fund the latest gadget, improve process flow, keep the largest fundraisers happy, hire the best talent, compete with the competition, keep the lawyers at bay, see the Hospital through the next 10 years, etc.
A good CEO is worth their weight in gold.
Not all CEO's do that. Many just take the money and do the minimum.
CEO - network, party, socialize, take all money and run
Dr. - reading reading reading, lawsuit , pay 200,000 student loan back, get blamed for everything, left with nothing
The kind of work a CEO does not take a rocket scientist to do. Their education requirement is not that much either. They just need a desire to have power, money, and clout. And above all know how to bullshit.
Doctors on the other hand, sacrifice for their education, career, patients, and families. They have to save lives, which are far more important than the other. And it does not just take a MBA to save a life it takes MD,PHD, and speciality requirements to do so. After all, god was the universal creator. It takes being on top of your game at 2am in the morning on Christmas, as well as other similiar days.
A CEO would never make it as a docotor, but a docotor can easily make it as a CEO.
You sound like a bitter pre-med or medical student who wishes they hadn't taken the road heavily travelled. Don't be mad @ another person's career path. Enjoy yours and stop complaining.
A doctor would probably make it better as CEO because he physicians of the hospital would probably choose a doctor CEO.
Interesting. I have been considering different routes of education to continue my nursing career. The CEO's of the last two hospitals I worked for were nurses who had their MSN/MBA (dual degree). Lots of claws as you get higher up the pay scale. The bigger the pay check, the more people who want the job. Informative site ! For All the MD's . . .THANKS! and I hope you all realize that a good salary is only one of the MANY benefits of being an MD (autonomy, self accomplishment, positively impacting lives, just to name a few) I love nursing, I hope you love Doctoring!
I too am considering different paths. I am currently a BS prepared respiratory therapist. While there are roads within this specialty (neo-peds transport, ECMO, etc) I do not see myself doing this for long and see bigger things in my future. I am contemplating starting an MHA program, although most of it is online. the program is ranked in the top 5 according to USnews and im wondering how important are rankings in this field? in nursing, respiratory, etc all that matters really is experience and a license, but in law and business many times the name/reputation of the school is what opens many doors... so any insight?
How much do CEO or their equivalent make in Canada, Britain and other European countries?