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Healthcare Executive Compensation

Learn more about Pearl Meyer's expertise working with boards and management in the healthcare industry.

An Industry in Transition

"As boards assess organizational strategy, they must also assess their leadership strategy. Has the board assembled a leadership team that can operate successfully in a crisis?"

–Steve Sullivan, Managing Director, Chicago

Read More

Healthcare is one of the most rapidly changing industries, significantly impacted by ongoing changes in regulations, business models, and public health. We develop innovative and integrated compensation programs that help organizations make the transition from yesterday’s way of doing business to an approach that’s directly aligned with the changes happening now and those projected to occur in the near future. Pearl Meyer is uniquely positioned to help you achieve your goals: independent and more individual client-focused than the industry giants, yet more comprehensive in perspective and capability than single-industry firms that may rely on formulae and prevalent practices.

Our Approach to Healthcare Compensation

we-advise-the-full-spectrum-of-healthcare-graphic

Management teams and boards in healthcare today require a mix of medical expertise and healthcare business experience, and may benefit from new executive talent from outside the field. They are tasked with operating successfully in a fee-for-service mode, while simultaneously moving to new models of reimbursement. And are doing so amidst increasingly urgent public health crises. Compensation can play a critical role in balancing these complexities, particularly when approached in a holistic manner and incorporating leadership development and succession planning objectives. 

We base each unique engagement on the business, operations, mission, and leadership goals of the organization, allowing external market practices to provide context. We then help guide the implementation, communication, review, and revision of plans to ensure success. The goal is achievement of business transformation that results in long-term value creation, whether the entity is not-for-profit, corporate, or government-based.

How We Design Executive Compensation Programs

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Compensation Services and Capabilities

Strategic Alignment

Strategic Alignment

  • Alignment of compensation with business and leadership strategies
  • Recruitment, retention, and motivation of top-performing leadership teams
  • Short- and long-term incentive design
  • Leadership development and succession planning
Sophisticated Analytics

Sophisticated Analytics

  • Peer group definition/competitive assessment
  • Performance metric selection and calibration
  • Pay-for-performance calibration
  • Risk assessment
  • Costing analysis
  • In-depth survey data
  • Leadership assessment and evaluation tools
Compliance Confidence

Compliance Confidence

  • Corporate and not-for-profit regulatory compliance reviews
  • Governance assessment and recommendations
  • CD&A disclosure communication
  • Form 990 disclosure communication
Tailored Solutions

Tailored Solutions

Our focus on strategic alignment for board, executive, physician, and broad-based compensation programs is bolstered by the industry’s most comprehensive and sophisticated analytics. We ensure airtight compliance and facilitate the effective communication of programs which results in a tailored solution. The goal is providing a holistic approach that builds great leadership teams and gives your organization a competitive advantage in a swiftly-changing healthcare marketplace.

Download our Fact Sheet

A Wealth of Data to Understand Market Practices

In addition to the extensive cross-industry executive compensation data available through Pearl Meyer's survey business unit and its partner Main Data Group, our Hospitals and Health Systems Executive Compensation and Benefits Survey provides granular, industry-specific information to inform plan design.

This long-standing annual survey (previously managed by Yaffe and Company) provides compensation and benefits data for 23 executive positions, and in 2020, covered a total of 169 organizations from 37 states. Our national report tracks current trends and key findings in near real-time as the industry responds to transformation.

Related Knowledge Share Items

Article
Chief Executive
December 2022

Retention Strategies in Healthcare

What can be done to alleviate the burnout and help healthcare organizations attract, motivate, and retain employees?

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Advisor Blog
Ed Steinhoff
April 2022

Attracting Healthcare Board Talent with Competitive Compensation

The competition for experienced, effective director talent is fierce. Healthcare boards should consider board pay as a recruiting and retention tool.

Read More
Advisor Blog
Steve Sullivan
December 2021

The Importance of Empathic Leadership for Healthcare Employee Wellbeing

Unprecedented circumstances require a different kind of leadership skill in the healthcare industry. Here’s how boards can help enact a cultural shift.

Read More
Presentation
Alexander Yaffe
December 2021

Healthcare Executive Benefits Planning: Supplemental Executive Retirement Plans

Designing SERPS to retain and reward top-level talent in today’s healthcare industry.

Read More

In the News

Aug 17, 2022

Boston Globe

Despite Furloughs at Hospitals, Some Executives Still Saw Pay Increases

“The [healthcare] leadership labor market is extremely tight and paying retention bonuses and making discretionary incentive awards is the cost of doing business,” said Steve Sullivan, managing director, Pearl Meyer.

Read In the News
Feb 20, 2023

North Carolina Health News

How Much Should Nonprofit Hospital CEOs Make?

“There’s no question that salaries for hospital executives have accelerated in recent years, but that has partly been driven by high turnover among hospital executives,” said Alexander Yaffe, managing director, Pearl Meyer.

Read In the News
Feb 17, 2023

WorldatWork

SEC Releases Updated Guidance for Pay Versus Performance Disclosure Rule

“Calculating compensation actually paid (CAP) has been the most arduous part of the disclosure in year one and recent [SEC] guidance failed to adequately address this critical component,” noted Deborah Lifshey, managing director for Pearl Meyer.

Read In the News
Feb 1, 2023

Law.com

Is Apple CEO's Pay Cut a Turning Point for Executive Compensation?

“Some companies are reluctant to push up [executive] pay during a period where mass layoffs, especially in tech, have become commonplace,” said Aalap Shah, managing director, Pearl Meyer.

Read In the News

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