Boston hospital CEOs: $1M a year is commonplace

The chief executive officers of Boston's largest not-for-profit teaching hospitals all received seven-figure compensation packages during 2011, the Boston Globe reported.

According to the Globe, the pay packages ranged from around $1 million to more than $2 million. The highest-paid executive was Gary L. Gottlieb, CEO of the Partners Healthcare System, who received total compensation of $2.1 million. That was down from more than $3 million in 2010, when a large chunk of vested retirement benefits were included.

Elizabeth G. Nabel, the CEO at Brigham and Women's Hospital, a 793-bed teaching affiliate of Harvard Medical School in the heart of Boston's Longwood Medical area, earned $1.9 million, while Massachusetts General CEO Peter L. Slavin earned $1.7 million.

"In a big successful teaching hospital, it's very rare to see anything less than $1 million in total compensation for the chief executive, and $1.5 million to $2 million is the norm," Paul Dorf, a New Jersey-based compensation expert, told the Globe.

In Maryland, where it was recently reported that several hospital CEOs earned more than $1 million, many saw pay increases even as the margins of their institutions eroded, FierceHealthFinance previously reported. 

James Xinis, CEO of Calvert Memorial Hospital, a community-based hospital in Prince Frederick, Md. saw his pay increase by more than 300 percent to $3.5 million. But most of the additional pay was vested retirement benefits.

"If they are laying off staff and decreasing what they invest in the community and executive compensation is increasing, that is a real question," Jessica Curtis, project director of the hospital accountability project at Community Catalyst, told the Baltimore Sun.

To learn more:
- read the Boston Globe article
- here's the Baltimore Sun article

 

Suggested Articles

Presidential candidate Kamala Harris wants to get rid of the tax break drug companies get for DTC ads

Healthcare software company Phreesia closed its first day of trading as a public company Thursday about 40% above its set price.

Growing the biosimilar market could lead to significant healthcare cost savings, according to a new report.