Executive Compensation at Baptist Health
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.