Jordan Cohen, the lame-duck president of the Association of American Medical Colleges, ranked among the five highest-compensated chief executive officers of healthcare trade associations, according to Modern Healthcare's annual ranking of healthcare association executive compensation.
The AAMC, along with three other not-for-profit associations, were not initially included in the magazine's latest ranking because of delays in filing their annual tax filing, known as Form 990, with the Internal Revenue Service. The latest ranking, based on the 990s submitted by 33 associations for their 2003 fiscal year, appeared in the March 28 issue (p. 26).
Cohen, who announced his retirement in January, earned $958,855 in total compensation, which includes salary, benefits and expense allowance, in 2003. That's up 6.9% from Cohen's total compensation in 2002. His 2003 total of nearly $1 million placed him fifth on the annual ranking behind Richard Davidson of the American Hospital Association, Scott Serota of the Blue Cross and Blue Shield Association, Karen Ignagni of America's Health Insurance Plans and Kenneth Raske of the Greater New York Hospital Association. Cohen is stepping down from his position on June 30, 2006.
The other three association executives absent from the original list included:
* Thomas Russell, executive director of the American College of Surgeons, ranked 13th with a total compensation of $661,328 in 2003, or 20.8% higher than his total 2002 compensation.
* Richard Clarke, president and CEO of the Healthcare Financial Management Association, came in at No. 17 with $463,837 in 2003, up 1.6% from 2002.
* And John Tooker, CEO and executive vice president of the American College of Physicians, ranked 19th with total compensation of $452,067 in 2003, an 8.1% increase from 2002.