By Jesus Solana
The 10th Physician Leadership Compensation Survey has found that a hospital system CEO might not have the organization’s highest-paying job, although CEOs are paid very big money in most systems, for-profit or “nonprofit.”
The survey, run by Cejka Executive Search and the American Association for Physician Leadership, found that the highest-paid members of the C-suite were often in such “emerging” roles as physician-in-chief, chief “transformational” officer and chief innovation officer.
The researchers found that the median salary for executives in these roles was $499,000 in 2015, while CEOs earned a median $437,500. CEO pay up was 7 percent since 2013 and “emerging roles” 6 percent
“There are emerging roles in response to the shift toward value-based care that provide physician leaders with significantly greater opportunities for earnings, as well as strategic input and organizational influence,” Paul Esselman, Cejka Executive Search’s senior executive vice president and managing director said.
To read the survey, please hit this link.
This piece looks at what it takes to be a strong physician leader in an age increasingly focused on population health. The authors, Kathy Jordan, president of Jordan Search Consultants, and Regina Levison, Jordan Search’s vice president of client development, conclude:
“In the era of population health management, the need for competent physician leaders will increase exponentially. Not only will primary care physicians (PCPs) direct care management teams to manage patient populations, but advanced practice providers, nurses, social workers, pharmacists and other non-clinical workers will also be required to lead teams and colleagues. The new paradigm necessitates it, but the statistics for best practices support it. According to a white paper published by the American Association for Physician Leadership, there is a link between physician leadership and organizational success; 21 of the 29 pioneer Accountable Care Organizations that earned bonuses from the Centers for Medicare and Medicaid Services were organizations led by physicians.
Effective clinical leaders will be the determining factor for success and growth in this new healthcare environment; as such, it is imperative that physicians are well-equipped to lead and organizations are prepared to better evaluate effective leaders. The competent, effectual physician leader appropriately employed by a strategic, visionary organization will create the dynamic needed to successfully navigate this new era of healthcare and improve the health of populations nationwide.”