The nation's largest health systems are aggressively competing to recruit and retain their most senior leaders, putting upward pressure on compensation for system CEO, COO and CFO roles, according to a survey from consulting firm SullivanCotter.
The most growth was observed at the system level. SullivanCotter found health system executives in top, enterprisewide roles saw an increase in median base salary of about 3.5 to 4 percent, compared to 3 percent growth for leaders with the same titles at system-owned hospitals. Slightly less-senior titles like senior vice president saw median base salary growth of about 3 percent.
Not only were the very topmost executives the most in-demand, but those at the largest health systems also saw faster pay growth. SullivanCotter observed 4 to 5 percent growth in salary for executives at health systems with over $3 billion in net revenue, compared to 3 to 3.5 percent growth for smaller organizations.
SullivanCotter attributes this growth to four key trends:
- The growing complexity of health systems post-consolidation
- Changing models of care
- Greater pressure to create cost efficiency
- Revenue diversification and growth
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