Franklin, Tenn.-based Community Health Systems' board recently approved 2020 pay packages for its top executives.
CHS Chairman and CEO Wayne T. Smith's base salary is $1.6 million this year, according to a filing with the Securities and Exchange Commission. His base pay has remained the same since 2015. The cash bonuses Mr. Smith and other top CHS executives are eligible to receive this year are largely the same as in 2019.
Kevin Hammons, who was appointed executive vice president and CFO in January, will receive a base salary of $575,000 in 2020 and up to 125 percent in cash bonuses. CHS President and COO Tim Hingtgen's base pay will be $1 million, up from $935,000 last year. The company's President of Clinical Operations and CMO Lynn Simon, MD, will receive base pay of $583,518, up from $566,522 last year. Mr. Hingtgen and Dr. Simon's incentive bonuses will remain at 140 percent and 115 percent of base pay, respectively, in 2020.
CHS recently released financial results for 2019. The 99-hospital system ended the year with a net loss of $675 million on revenues of $13.2 billion. In 2018, CHS recorded a net loss of $788 million on revenues of $14.2 billion.