$25,000 average salary rise for multi-facility long-term care CEOs, survey shows
Chief executive officers for multi-facility long-term care systems saw their salaries increase to an average of $465,875 in 2016, according to a new compensation survey.
The Hospital & Healthcare Compensation Service's “2016-2017 Multi-Facility Corporate Compensation Report” tracks the salary and bonus data for top corporate positions across long-term care, hospital and home health providers.
Average salaries for long-term care CEOs who oversee multi-facility systems reached $465,875 with an annual bonus of $92,730. That's a nearly $25,000 increase over last year's average of a $441,604 salary, which also came with a whopping average bonus of nearly $175,000.
Broken down by revenue range, compensation for CEOs of systems bringing in less than $100 million averaged $396,999. CEOs of systems with more than $1 billion in revenues, on the other hand, sported an average salary of $822,266.
Long-term care chief operating officers made an average of $287,799 over the past year, with an average bonus of $67,251, according to the report, which was released Monday.
Compensation levels were collected from 43 long-term care companies. The majority of salary increases (91%) were based on performance-based merit, with cost of living ranking as the second-most cited factor (24%). Length of service and relation to profit also played into salary increases, the report showed.
For more information about the report or to order it from HHCS for $675, click here.