Two Michigan hospital and healthcare CEOs earned large incentives in from 2007-2008, the most recent data available, while the CEO of a city-owned hospital declined incentive compensation, according to a Flint Journal report.
Philip Incarnati, president and CEO of Flint, Mich.-based McLaren Health Care, saw his compensation increased by 73 percent to $3.9 million due to bonuses and other forms of compensation, making him one of the highest paid healthcare executives in the country, according to the report.
Bonuses also boosted the pay of Mark Taylor, president and CEO of McLaren's Genesys Regional Medical Center in Grand Blanc, Mich. Mr. Taylor saw a total compensation of $735,273 during that time frame — 60 percent more than his base salary, according to the report.
Comparatively, Patrick Wardell, CEO of the city-owned Hurley Medical Center in Flint, has declined bonuses and incentive pay due to the economy. Without these forms of compensation, Mr. Wardell earned about 15 percent more than his base salary after retirement and other benefits were included.
Experts say most executives earn about 10 to 30 percent in bonuses, according the report, and more than 80 percent of hospitals and health systems have some type of annual or short-term incentive plan.
Read the Flint Journal report on McLaren and Hurley's CEO compensation.
Read more about executive compensation:
- 5 Recent Disclosures on Hospital Executive Compensation
- 3 Smart Ways to Disclose Executive Compensation at a Non-Profit Hospital
Philip Incarnati, president and CEO of Flint, Mich.-based McLaren Health Care, saw his compensation increased by 73 percent to $3.9 million due to bonuses and other forms of compensation, making him one of the highest paid healthcare executives in the country, according to the report.
Bonuses also boosted the pay of Mark Taylor, president and CEO of McLaren's Genesys Regional Medical Center in Grand Blanc, Mich. Mr. Taylor saw a total compensation of $735,273 during that time frame — 60 percent more than his base salary, according to the report.
Comparatively, Patrick Wardell, CEO of the city-owned Hurley Medical Center in Flint, has declined bonuses and incentive pay due to the economy. Without these forms of compensation, Mr. Wardell earned about 15 percent more than his base salary after retirement and other benefits were included.
Experts say most executives earn about 10 to 30 percent in bonuses, according the report, and more than 80 percent of hospitals and health systems have some type of annual or short-term incentive plan.
Read the Flint Journal report on McLaren and Hurley's CEO compensation.
Read more about executive compensation:
- 5 Recent Disclosures on Hospital Executive Compensation
- 3 Smart Ways to Disclose Executive Compensation at a Non-Profit Hospital