The turnover rate among hospital chief executives hit 20% in 2013, the highest rate since the American College of Healthcare Executives first began collecting CEO turnover data in 1981. The rate stood at 17% in 2012 and an average 15.5% annually for the prior 32 years.
While expecting some increase from 2012, executive recruiters said they were surprised by the magnitude of the jump.
More hospital consolidation and aging baby boomer retirements are likely factors behind the trend, they said. That suggests the higher turnover rate may not be limited to one year. “If the acquisitions and mergers continue, I think we are going to continue to see this,” said Mark Madden, senior vice president of executive search for B.E. Smith.