Median 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 percent this year, according to an American Medical Group Association’s (AMGA) survey.
According to the AMGA 2015 Medical Group Executive and Leadership Compensation Survey, the rising compensation trends are attributable to increased demand and expanding responsibilities for these roles in healthcare organizations. For most other C-suite positions, compensation levels showed moderate changes year-over-year, the organization said.
The survey was conducted by AMGA’s consulting arm, AMGA Consulting Services, and presents data from 65 participating healthcare organizations representing 1,574 unique data points. And, the report includes data on total cash compensation, base compensation and earned bonus compensation for various management and executive positions.
“We believe the data in the report provide an important resource that medical group leaders can use to make management decisions,” Donald Fisher, Ph.D., president and chief executive officer of AMGA, said in a statement. “The stratification of the data allows improved ability to match pay with the size and scope of the position.”
The survey also provides information on C-suite level benefits, including benefit cost to the organization, supplemental life insurance, supplemental long-term disability, and supplemental retirement plans, in addition to prevalence of employment contracts and other perquisites. According to the survey results, about 50 percent of Chief Executive Officers (non-physician) reported having a formal employment contract, while 63 percent of physician Chief Executive Officers reported having a contract.
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