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August 17, 2019

Executive Compensation at Hackensack Meridian Health

by Anne Paddock

Hackensack Meridian Health (HMH) is New Jersey’s largest non-profit healthcare network with 17 hospitals, 500 patient care locations, and 34,000 employees. Based in Neptune, New Jersey, HMH is made up of numerous affiliated and related non-profits but this post will address the non-profit referred to as Hackensack Meridian Health – Subordinates (HMHS) since this entity compensates most of the senior management team whether compensated from HMHS or an affiliated organization.

In 2016, HMHS reported $2.5 billion in total revenue, $2.250 billion in expenses (of which $85 million was depreciation), leaving $250 million in revenue less expenses, which contributed to the net fund assets increasing by more than $400 million by year-end (the other contributions being unrealized gains on investments and changes in assests) from $1.340 billion to $1.755 billion (they basically increased their net fund assets by 30% in one year, which is significant).

In 2016, HMHS reported having 19,188 employees who were compensated $1.150 billion (about half of revenue which is consistent with many other non-profit healthcare providers), which equates to an average compensation of $60,000.  1,938 employees received more than $100,000 in compensation with the 43 most highly compensated employees listed below (note:  the employees whose names are highlighted received their compensation from an affiliated organization):

  • $4,500,786:  Robert C Garrett, Co-CEO, Trustee
  • $3,926,736:  John K Lloyd, Co-CEO, Trustee
  • $2,781,722:  Joseph M Lemaire, Treasurer/Trustee
  • $2,307,374:  Robert L Glenning, President, Financial Services Div, CFO
  • $2,246,956:  Ihor S Sawczuk, President, HUMC/Trustee
  • $1,985,979:  John Calandnello, PMC CFO (until 2/29/16)
  • $1,678,008:  Bruce J Markowitz, President, PMC/Trustee
  • $1,579,462:  Steven G Littleson, President, COO, Trustee
  • $1,419,446:  Andrew L Pecora, President, Physical Services Division, CIO
  • $1,390,763:  Alexander Glickman, Medical Director
  • $1,336,487:  Audrey C Murphy, EVP, General Counsel, Hospital
  • $1,283,811:  Nancy Corcoran-Davidoff, EVP, Chief Experience Officer
  • $1,207,715:  Dean Q Lin, President OMC & SOMC/Trustee
  • $1,101,980:  Timothy J Hogan, President, RMC & BCH/Trustee
  • $1,100,182:  George Edward Davis, PMC Admin (until 2/29/16)
  • $1,027,705:  Dean Q Lin, President OMC & SOMC Trustee
  • $1,012,414:  Patrick Young, President Pop Health Solutions
  • $  984,546:  Kenneth N Sable, President JSUMC/Trustee
  • $  980,060:  Ann B Gavzy, EVP General Counsel, Network
  • $  941,480:  Jon M Fitzgerald, Chief Development Officer, HUMC/Trustee
  • $  912,140:  Michael R D’Agnes, Secretary/Treasurer/President RBMC
  • $  891,099:  Sherrie String,EVP, Chief HR Officer
  • $  872,442:  Salvatore Inciardi, President, Trustee
  • $  868,323:  Mark Krasna, Medical Director
  • $  838,824:  James Blazar, EVP, Chief Strategy Officer
  • $  806,599:  Paul Chung, Trustee
  • $  805,462:  Joseph P Coyle, President SOMC (to 7/2/16), Trustee
  • $  713,251:  Anthony J Passannante, PMC CMO (until 2/29/16)
  • $  695,919:  Marty B Scott, SVP, Chief Quality Officer
  • $  667,825:  Rebecca Weber, VP, IT
  • $  618,848:  Maureen Sintich, SVP, Network Chief Nurse Off
  • $  562,740:  Joseph E Stampe, President/Trustee
  • $  499,946:  Hormoz Ashtyani, Trustee
  • $  491,487:  David Berkowitz, PMC COO (until 2/29/16)
  • $  436,826:  John D Royall, Trustee
  • $  333,829:  Robert H Adams, Interim President, SOMC/Trustee
  • $  273,720:  John J Apovian, MDT Trustee
  • $  261,714:  Joseph Burt, Executive Director PMCF/Trustee
  • $  252,782:  Paul K Huegel, Executive Director, JSUMCF/Trustee
  • $  252,435:  Andrew Rubenstein, Trustee
  • $  236,089:  Jennifer L Smith, Exec Director, RMCF & BCHF/Trustee
  • $  229,515:  Adnan M Pristas, Trustee
  • $  181,293:  Mathew D Lang, Exec Director OMCF/Trustee

36 of the 43 (84%) of the most highly compensated employees are male while 7 (16%) are female. The top 10 most highly compensated employees are male.

The Form 990 reports the organization paid for housing allowance or residence for personal use and health or social club dues or initiation fees. For more information on these expenses, go to Schedule K, Part III, Supplemental information on the 990 (click here).

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