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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
Steve Sullivan
June 2020

Responding to the COVID-19 Crisis: Healthcare Board and Human Resource Perspectives

Learnings from both CHROs and healthcare trustees on the compensation challenges they are facing during the pandemic.

Read More
Advisor Blog
Steve Sullivan
Ed Steinhoff
June 2020

Three Healthcare Compensation Trends That Are More Important Than Ever

The COVID-19 pandemic has brought discretion, mission-based metrics, and leadership assessment to the forefront.

Read More
Advisor Blog
Steve Sullivan
April 2020

Healthcare Leaders Meeting the Challenge

Many healthcare executives are taking reduced pay in solidarity with front-line medical professionals.

Read More
Article
Steve Sullivan
Ed Steinhoff
Jim Hudner
Tim Dupuis
February 2020

The Triple Aim and Healthcare Executive Compensation: Top Five Trends for 2020

The healthcare industry enters a second wave of learnings in pay program design.

Read More

In the News

Nov 4, 2020

Modern Healthcare

Community Health Systems After Wayne Smith

“It's difficult to compare supplemental executive retirement plan (SERP) payouts from one executive to another, because there are many ways companies provide retirement pay and all of those components matter in terms of comparison,” said Bill Dixon, a managing director with Pearl Meyer.

Read In the News
Aug 1, 2020

Modern Healthcare

As Front-Line Workers Suffer Layoffs and Furloughs, Giving Executives Bonuses Can Stir Resentment

“There has to be some sense of equity. If there were a lot of furloughs and the organization isn’t hiring people back now, it is awfully tough to offer discretionary awards,” said Steve Sullivan, managing director, Pearl Meyer.

“Generally, executives [in healthcare] seem to be sharing more of the burden via pay cuts than in past recessions,” said Ed Steinhoff, managing director, Pearl Meyer.

Read In the News
Mar 12, 2020

Modern Healthcare

HCA Healthcare CEO Made $27 Million in First Year

“So many variables affect companies' CEO pay ratios that it's not useful to compare them within industries, company by company, or even year over year,” said Deborah Lifshey, managing director, Pearl Meyer.

Read In the News
Nov 14, 2019

Health Leaders

Taking Advantage of "Motivation": A Way to Improve Executive Compensation for Nonprofit Providers

“Health systems are at the beginning of a period of change that focuses on retaining leaders with variable pay programs,” said Steve Sullivan.

Read In the News

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