St. Louis hospital CEOs see double-digit pay hikes : Business

St. Louis hospital CEOs see double-digit pay hikes : Business

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A recent survey by Equilar, an executive compensation data firm based in Redwood City, Calif., found that — for the fourth time in five years — health care chief executives commanded the highest pay packages last year among publicly traded companies.

On average, Equilar found, health care CEOs were paid more than their counterparts in six other industry sectors, including technology, financial services and industrial goods.

The value of executive pay at large, for-profit health companies tends to be higher than nonprofit organizations, but the gap appears to be narrowing.

In recent years, executives at St. Louis-area nonprofit health organizations have seen annual double-digit increases of as much as 40 percent in their total compensation packages, which typically include salaries, bonuses, pensions and health benefits.

Such pay hikes occurred as these nonprofit organizations enjoyed their largest operating margins in years, and also at a time when health providers speak of a new era of transparency in pricing, improved quality of care, and personalized medicine.