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September 4, 2021

Executive Compensation at Baptist Health

by Anne Paddock

Baptist Health is a tax-exempt, non-profit 501 (c) (3) healthcare provider that has more than 250 access locations that includes 11 hospitals, urgent care centers, a senior community, and more than 100 primary care and specialty care clinics in Arkansas and eastern Oklahoma, staffed by more than 11,000 employees.

Baptist Health consists of dozens of non-profit organizations and taxable partnerships, trusts and corporations.  This post reports the executive compensation of Baptist Health (the non-profit corporation) that employed just over 8,000 (note:  other related/affiliated organizations within the system employed others).

There are 18 independent members (trustees) of the governing body (Board of Trustees), 14 (78%) of whom are male while 4 (22%) are female.

Key financial information in 2019 includes the following:

  • Total revenue was $966 million (compared to $896 million in 2018), most of which came from patient services ($902 million) .
  • Expenses totaled $871 million (not including $46 million in depreciation) with the largest expenses reported to be compensation ($422 million), medical supplies and pharmaceuticals ($182 million), and office-related expenses ($73 million).
  • At the beginning of 2019, net assets were $743 million. After adding excess revenue and unrealized gains on investments, net assets were $857 million at year-end.

Compensation is generally about half of revenue for healthcare providers so Baptist is just below that at 44% of revenue.  8,269 employees received $422 million in compensation which equates to an average compensation of $51,000.  320 employees received more than $100,000 in compensation with the 18 most highly compensated reported to be:

  • $1,161,044:  Troy Wells, President and CEO
  • $  997,360:  Harrison Dean, SVP
  • $  858,152:  Robert C Roberts, Former CFO
  • $  674,230:  Douglas Weeks, Chief of Strategy
  • $  563,072:  Cathy Dickenson, VP Human Resources
  • $  525,922:  Michael Elley, CIO
  • $  507,876:  Brent Beaulieu, CFO
  • $  505,225:  Greg Crain, SVP and Administrator
  • $  484,937:  Duane Erwin, Chief of Hospital Operations
  • $  467,474:  William Hawkins, VP Medical Director
  • $  441,840:  Charles E Phillips, Chief Medical Officer
  • $  377,509:  Stan Kellar, Chief of Clinical Affairs
  • $  361,260:  Mike Perkins, VP and Administrator
  • $  352,354:  Michele Diedrich, CNO
  • $  341,710:  Will Rusher, CEO/COO of AHG
  • $  341,599:  Greg Graham, General Counsel
  • $  271,741:   Sheila Williams, VP and Administrator
  • $  270,439:  Kelley Hamby, VP of Patient Care

14 of the 18 (78%) most highly compensated employees are male while 4 of the 18 (22%) are female.

65 independent contractors received more than $100,000 in compensation with the 5 highest reported to be:

  • $28.2 million:  Arkansas Cardiology, of Little Rock, AK for physician services
  • $10.2 million:  Medefis, of NY, NY for medical services
  • $ 8.8 million:  Medical Services Group, of Little Rock, AK for medical services
  • $ 3.8 million:  Stuttgart Medical Clinic, of Stuttgart, AK for physician services
  • $ 3.5 million: Vintage Health Resources, of German Town, TN for medical services

To read the IRS Form 990 (2019), click here.

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