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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

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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

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
Celeste Coruzzi, PhD
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
Ask the Expert Interview
Ed Steinhoff
Steve Sullivan
December 2021

A Balancing Act for Healthcare Boards: Executive Pay, Organization Performance, and the Pandemic

Details from a recent conversation about the divergent compensation challenges for healthcare providers and insurers.

Read More

In the News

Mar 25, 2021

Health Exec

What Healthcare Boards Worry About in 2021

According to a new report from Pearl Meyer exploring what’s top of mind for healthcare boards, special attention to the healthcare workforce is needed, with five areas of particular concern outlined.

Read In the News
Mar 24, 2021

Becker’s Hospital Review

Top 5 Concerns for Healthcare Boards

In 2021, boards will be involved in the reassessment of business and talent management strategies at hospitals and health systems, according to compensation consulting firm Pearl Meyer.

Read 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

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