A new survey has found that compensation in the medical C-Suite has been steadily on the rise throughout 2015, which also found the compensation increases may be attributed to greater demand and expanding responsibilities for these roles within healthcare organizations.
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The findings are from American Medical Group Association’s AMGA 2015 Medical Group Executive and Leadership Compensation Survey, conducted by its consulting arm AMGA Consulting Services.
The survey report includes data on total cash compensation, base compensation, and earned bonus compensation for various management and executive positions. The compensation data presented are reported based on physician group size and region of the country.
According to a press release, survey findings show that median total cash compensation for chief compliance officers (CCOs), chief information officers (CIOs), and chief medical officers (CMOs) has been steadily on the rise, increasing between 11% and 17% this past year. Compensation levels for most other C-suite positions showed more moderate changes.
The survey also gathered information on C-suite level benefits, including benefit cost to the organization, supplemental life insurance, supplemental long-term disability, supplemental retirement plans, and other perquisites including employment contracts.
Approximately 50% of nonphysician chief executive officers reported having a formal employment contract, while 63% of physician chief executive officers reported having a contract.
Additional enhancements to the survey include an “earned bonus-to-base ratio” indicating incentive compensation earned as a percentage of base salary by incumbents across all 34 leadership positions surveyed.
The data were reported at the 25th, 50th, and 75th percentiles from 65 participating healthcare organizations representing over 1,500 unique data points.
Other perquisites, including prevalence of professional membership allowances, company-sponsored financial counseling, and prevalence of auto allowances are reported in this year’s survey.
“We believe the data in the report provide an important resource that medical group leaders can use to make management decisions,” said Donald W. Fisher, PhD, CAE, and president and chief executive officer of AMGA. “The stratification of the data allows improved ability to match pay with the size and scope of the position.”
The AMGA 2015 Medical Group Executive and Leadership Compensation Survey can be purchased from the AMGA online marketplace.