Total compensation for top executives at large publicly traded health systems was a mixed bag in 2024, as some companies are still finding their footing after years of financial challenges.
Tenet Healthcare CEO Dr. Saum Sutaria and HCA Healthcare CEO Sam Hazen were among the highest paid executives, with total compensation increasing 33% year-over-year to $24.7 million and 12% to $23.8 million, respectively. Total compensation includes base salary, bonuses, stock awards and incentives-based pay.
Related: How health systems are faring in a low-cost environment
Other executives brought in less compensation compared with 2023. For example, Community Health Systems CEO Tim Hingtgen's total compensation dropped 8.6% to $7.63 million.
Stock awards and incentives-based pay made up most of the 2024 compensation at six for-profit health systems, which were selected based on size and services offered. Base salaries hovered between $1 million and $1.5 million.
The Securities and Exchange Commission requires publicly held companies to disclose information on executive compensation in their annual proxy statements, in addition to financial statements, corporate governance details and proposals for upcoming shareholder meetings. Nonprofit, tax-exempt systems are not required to report to the SEC. They report executive compensation in annual tax filings, but information for 2024 was not publicly available.
Ardent Health joined the ranks of publicly traded companies in 2024 following its initial public offering filing in late June. President and CEO Marty Bonick and Chief Financial Officer Alfred Lumsdaine saw huge increases in compensation, largely due to stock awards.
None of the CEOs and CFOs at the select systems were awarded bonuses except Tenet's Sutaria and Park, who each received a $500,000 bonus.
Here's a look at how much executives took home last year.
