CEO of Oceanside, Calif.-based Tri-City Healthcare District Larry Anderson received a 4 percent pay raise last week, boosting his base pay to $500,000, according to a Sign On San Diego report.
The raise followed a recommendation by a committee formed to review Mr. Anderson's pay. The committee advised the hospital to increase Mr. Anderson's salary by $20,000 and return to incentive-based bonuses for all hospital executives. The committee considered adding an incentive bonus but did not make the bonus formal. According to the report, the most Mr. Anderson could receive in bonus pay would be 30 percent of his salary.
Mr. Anderson's total cash compensation was around $625,000 last year with deferred compensation and other taxable benefits.
Read the Sign On San Diego report on Larry Anderson.
Read more on compensation:
-4 Factors That Determine Hospital Executive Compensation
-10 Recent Healthcare Compensation Controversies
The raise followed a recommendation by a committee formed to review Mr. Anderson's pay. The committee advised the hospital to increase Mr. Anderson's salary by $20,000 and return to incentive-based bonuses for all hospital executives. The committee considered adding an incentive bonus but did not make the bonus formal. According to the report, the most Mr. Anderson could receive in bonus pay would be 30 percent of his salary.
Mr. Anderson's total cash compensation was around $625,000 last year with deferred compensation and other taxable benefits.
Read the Sign On San Diego report on Larry Anderson.
Read more on compensation:
-4 Factors That Determine Hospital Executive Compensation
-10 Recent Healthcare Compensation Controversies