In 2022, one of HCA Healthcare's highest-earning executives was also its newest.
Nashville, Tenn.-based HCA Healthcare is one of the largest health systems in the United States, operating 184 hospitals across 21 states and the United Kingdom. In 2022, the for-profit system posted $5.64 billion in net profit on $60.23 billion in revenue — dipping from $6.96 billion in income on $58.8 billion in revenue the year prior.
HCA executives' pay packages were determined using a sample group of large public healthcare companies — including Anthem, Centene, Eli Lilly and Pfizer — according to a proxy statement filed March 10. To determine the competitiveness of compensation for Michael McAlevey, who joined HCA as chief legal officer in early 2022, business management consulting firm Semler Brossy collected and reviewed data from the Willis Towers Watson Executive Compensation Database and Radford Global Compensation Database.
HCA's compensation committee also considered factors unique to each individual — including projected responsibilities for the coming year, projected or actual impact on successful strategy execution, and experience — to determine each executive's pay, including Mr. McAlevey's.
Aside from Mr. McAlevey, who did not join the team until 2022, every named executive took a pay cut from 2021. The following figures reflect their total compensation, including salary, bonus, stock awards and other benefits:
1. Samuel Hazen, CEO:
2021: $20.6 million
2022: $14.6 million
2. Michael McAlevey, senior vice president and chief legal officer:
2021: No data available
2022: $6.5 million
3. William Rutherford, executive vice president and CFO:
2021: $7.2 million
2022: $5.1 million
4. Charles Hall, president of national group:
2021: $5.6 million
2022: $5 million
5. Jon Foster, president of American group:*
2021: $6 million
2022: $4.1 million
*Mr. Foster was promoted to executive vice president and COO of HCA Healthcare, effective Jan. 1, 2023.