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July 8, 2020

Executive Compensation at Mount Sinai Hospital

by Anne Paddock

Mount Sinai Hospital (MSH) is part of the Mount Sinai Health System (MSHS) – a network of 8 hospitals and a medical school formed in 2013 when the operations of Mount Sinai Medical Center and Continuum Health Partners merged. MSHS is the controlling entity or the affiliated organization – both non-profit and for profit – in the network.  Headquartered in New York City, NY, MSHS has about 4,000 beds and 38,000 employees, with nearly 16,500 of them employed by the Mount Sinai Hospital.

Key information to know about Mount Sinai Hospital (MSH), as reported on the Form 990 (2017) submitted to the IRS includes:

MSH reported total revenue of $2.8 billion, most of which ($2.6 billion) came from patient services.

Expenses totaled $2.6 billion (including $109 million in depreciation) with the three largest expenses being compensation ($1.2 billion), medical supplies ($572 million), and fees for services ($384 million).

MSH began the year with $1.7 billion in net assets (often referred to as the endowment). After adding excess revenue not spent, gains on investments and other changes in assets ,MSH closed the year with $2 billion in net assets.

Compensation is generally about half of a hospital’s total operating expense so MSH appears to be in-line with other hospitals. 16,488 received $1.2 billion in compensation, which equates to an average compensation of $73,000.

3,491 employees received more than $100,000 in compensation with the 18 most highly compensated employees being:

  • $12,457,914:  Kenneth Davis, Chief Executive Officer*
  • $ 2,351,104:  Dennis Charney, President, Academic Affairs**
  • $ 1,924,372:  Donald T Scanlon, EVP, Finance and Chief Corp Serv*
  • $ 1,909,098:  Jeremy Boal, EVP, System CMO*
  • $ 1,549,728:  Burton P Drayer, EVP, System CMA**
  • $ 1,545,052:  David L Reich, President and COO
  • $1,528,781:  Arthur Klein, EVP, President of Health Network*
  • $1,408,432:  Margaret Pastuszko, EVP, Chief Integration Officer*
  • $ 1,254,336:  Beth Essig, EVP, General Counsel*
  • $ 1,141,299:  Jeffrey Silberstein, EVP, System CAO*
  • $ 1,066,530:  Michael Pastier, SVP, CFO*
  • $ 1,034,842:  Andrew Snyder, EVP, System CIO*
  • $   982,488:  Niyum Gandhi, EVP, Chief Pop Health Officer*
  • $   977,999:  Vicki Lopachin, SVP, System CMO*
  • $   634,794:  Frank Cino, SVP, System Chief Risk Officer*
  • $   613,728:  Caryn Schwab, SVP, Executive Director MSHQ
  • $   472,957:  Horatio Yeung, VP, System Clinical Laboratory
  • $   358,828:  Elana Abraham, Former Officer *

The “*” indicates the employee received compensation from MSH and an affiliated/related organization. The “**”  indicates the employee received compensation from an affiliated/related organization.

13 of the 18 (72%) most highly compensated employees listed above are male while 5 of the 18 (28%) are female.

130 independent contractors received more than $100,000 in compensation. The five most highly compensated were:

  • $11.9 million:  Crothall Healthcare, Inc. of Chicago, Illinois for management
  • $ 7.9 million:  Morrison Management Specialists of Chesterbrook, PA for management
  • $ 5.0 million:  Arup Laboratories of Salt Lake City, UT for lab services
  • $ 4.5 million:  Winston Staffing Services of New York, NY for personnel
  • $ 4.3 million:  Xifin, Inc. of San Diego, CA for billing services

To read the IRS Form 990 (2017) for MSH, click here.

Update:  Click on Executive Compensation at Mount Sinai Hospital (2019)

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