Increases in Salaries Continue to Exceed Projected Budgets
When comparing the data from 165 health systems and 607 hospitals whichparticipated in 2007 and 2008, base salaries have increased on average 5.0%and 5.2%, respectively. The increase in salaries is higher than the averageprojected 2008 salary increase budget, which was 4.0% for health systems and3.8% for hospitals. "These results are similar with the outcomes from lastyear's analysis," noted SullivanCotter Managing Principal Tom Pavlik. "Whilewe do not compile data on what impacts salary increases, the competition forseasoned, high-performing executives is likely a factor. It will beinteresting to see if next year's results are different considering theincreased disclosure from the new Form 990 for 2008."
Modern Healthcare magazine is sponsoring a webinar of the survey overviewand trend results on August 21st at 10 a.m. Registration information can befound at http://www.sullivancotter.com beginning August 5th. Downloads of thediscussion are available after the broadcast. Modern Healthcare, the nation'slargest healthcare weekly, relies on Sullivan, Cotter and Associates' data forits annual coverage on healthcare executive compensation.
The 2008 Survey of Manager and Executive Compensation in Hospitals andHealth Systems will be available for purchase in late August. The cost tohealthcare organizations agreeing to participate in next year's survey is$600; for those not wishing to participate, the cost is $1,500. The survey isalso available to non-healthcare organizations. To order a copy, please visitthe SullivanCotter website at http://www.sullivancotter.com or contact MaryKowalczyk, survey coordinator, at 312/739-2000, toll-free at 888/739-7039, oremail firstname.lastname@example.org.
Sullivan, Cotter and Associates, Inc. specializes in the development andimplementation of strategic total compensation and reward programs for thehealthcare industry. Since 1992, SullivanCotter has worked closely withhealthcare organization executives, boards, and compensation committees todevise innovative compensation solutions that attract and retain leadershiptalent while satisfying not-for-profit missions and regulatory requirements. Aleader in independent consulting, benchmarking, trends, and analyses,SullivanCotter has developed the most widely recognized physician andexecutive compensation surveys in the United States. SullivanCotter hasoffices in Atlanta, Boston, Chicago, Dallas, Denver, Detroit, New York City,Parsippany, San Francisco, and Westport. For more information, visithttp://www.sullivancotter.com or call 888-739-7039.
SOURCE Sullivan, Cotter and Associates, Inc.
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