The average budgeted salary increases for hospital personnel in 2012 are 2.5 percent for hospital and health system executives, 2.8 percent for middle management and 2.6 percent for staff, according to a survey conducted by healthcare consulting firm Integrated Healthcare Strategies.
IHS' Spring 2012 Salary Increase, Incentive and Benefit Updates Survey looked at several hospitals and health systems and their compensation plans for this year. Other results of the survey include:
• Nearly 90 percent of hospitals and health systems are either leaving 2012 salary increase budgets unchanged from 2011, or they are increasing budgets from 2011.
• Of the 75 percent of respondents that have incentive plans for executives, roughly 25 percent said there will be changes to those incentive plans this year. Of the same 75 percent of hospitals with executive incentive plans, 90 percent will pay incentives based on 2011 performance.
• Nearly 38 percent of surveyed hospitals and health systems will use some type of physician alignment criteria in their incentive plans.
• Only 15 percent of respondents indicated they have a gainsharing plan in place. Of those that do, more than half pay a flat dollar amount to eligible employees with an average payout of less than $450 per year.
• About 39 percent of hospitals and health systems pay registered nurses in a "float pool" the same as their typical staff RNs.
IHS' Spring 2012 Salary Increase, Incentive and Benefit Updates Survey looked at several hospitals and health systems and their compensation plans for this year. Other results of the survey include:
• Nearly 90 percent of hospitals and health systems are either leaving 2012 salary increase budgets unchanged from 2011, or they are increasing budgets from 2011.
• Of the 75 percent of respondents that have incentive plans for executives, roughly 25 percent said there will be changes to those incentive plans this year. Of the same 75 percent of hospitals with executive incentive plans, 90 percent will pay incentives based on 2011 performance.
• Nearly 38 percent of surveyed hospitals and health systems will use some type of physician alignment criteria in their incentive plans.
• Only 15 percent of respondents indicated they have a gainsharing plan in place. Of those that do, more than half pay a flat dollar amount to eligible employees with an average payout of less than $450 per year.
• About 39 percent of hospitals and health systems pay registered nurses in a "float pool" the same as their typical staff RNs.
More Articles on Hospital Executive Compensation:
Not Just a For-Profit Perk: SERPs Boost Non-Profit Hospital Exec Pay
Compensation Manifesto: 11 Steps for Hospital CEOs and Compensation Committees to "Get it Right"
The 4 Dimensions of Hospital Accountability