Executive Compensation at Intermountain Healthcare (2023)

Intermountain Healthcare refers to a large healthcare system (33 hospitals and nearly 400 clinics) based in Salt Lake City, Utah. Although there are  numerous organizations under the Intermountain Healthcare system, the primary entities include IHC Health Services, Inc. and the Intermountain Healthcare Foundation, Inc.  – both of whom operate out of the same office.

There are 14 voting members (trustees) of the governing body (board of trustees) of IHC Health Services, Inc; 13 of whom are independent, although the Form 990 (2023) reports 21 trustees (due o image differences), 12 of whom are male while 9 are female (note:  The Form 990 does not report gender identity. Conclusions were made based on name and google searches).

IHC Health Services, Inc. reported $9.6 billion in revenue in 2023 (compared to $8.7 billion in 2022, $8.9 billion in 2021, $7.1 billion in 2020, $7 billion in 2019 and $6.6 billion in 2018), most of which came from patient services, lab and pharmacy.

Expenses were $8.8 billion (including $367 million in depreciation) – $800 million less than total revenue, which along with a $600 million adjustment for unrealized gains on investments  and a negative $131 million adjustment to net assets (see the Form 990, Schedule O for details) helped the organization to increase net fund assets by $1.4 billion from $13 billion in 2022 to $14.4 billion at year-end 2023.

The two largest expenses were compensation ($4.3 billion) and medical supplies ($1.9 billion), followed by fees for services ($842 million) and office-related expenses ($578 million).

In 2023, IHC Health Services, Inc. employed 51,256 individuals who were compensated $4.3 billion, which equates to an average compensation of $84,000.

9,226 employees received more than $100,000 in compensation with the 30 most highly compensated employees listed below:

• $8,297,635:  Albert R Zimmerli, Former EVP, CFO, Sec, Treasurer
• $6,294,132:  Robert W Allen, Former SVP, COO
• $5,698,171:  Janey Wade, Former Enterprise CFO (partial)*
• $3,167,432:  Paul Krakovitz, Desert Region President
• $2,864,679:  Dan Liljenquist, Former SVP
• $2,671,463:  Susan M Robel, Region President, Trustee
• $2,392,280:  A Marc Harrison, Former Trustee, President, CEO
• $2,300,619:  Greg J Matis, SVP, General Counsel
• $2,253,855:  Mikelle Moore, Former SVP
• $2,199,497:  Heather Brace, Former SVP
• $2,117,139:  Gregory M Johnson, VP (partial)
• $2,102,335:  David Goff, Surgeon Cardio
• $2,071,274:  Casey Bachison, Surgery-Orthopedic
• $1,881,421:  David L Flood, SVP
• $1,837,863:  John Doty, Director, CV Surgery
• $1,823,527:  Kyle Eliason, Gastroenterology
• $1,563,867:  Clay Ashdown, SVP (partial)
• $1,330,850:  James Sheets, Region COO (partial)
• $1,323,857:  Rebekah Couper-Noles, COO Ambulatory Care (partial)
• $1,164,788:  Robert E Hoesch, Region CMO (partial)
• $1,083,236:  Stacy Jennings, VP, CIO
• $1,021,602:  Amy Church, VP, Finance (partial)
• $  964,296:  Gregory Poulsen, Former SVP
• $  962,339:  Amy Christensen, Region CNO
• $  715,114:  Denis Smith, Region CFO
• $  694,678:  Suzanne Draper, VP, Business Ethics (partial)
• $  552,004:  Jeff Lyon, Region VO, Strategy
• $  321,248:  Shannon Phillips, Former Region CMO
• $  242,510:  Mark R Briesacher, Former SVP
• $  160,247:  Kevan Mabbutt, Former SVP

20 of the 30 (67%) most highly compensated employees are male while  10 of the 30 (33%) are female.

The 30 most highly compensated employees received $62 million in compensation in 2023. The most highly compensated employee was Albert Zimmerli, the former CFO who received  $8.3 million in 2023; and $33 million from 2016-2023:

Albert Zimmerli:  Total Compensaton 2016-2023:  $33 million

• 2023:  $8,297,653
• 2022:  $5,689,429
• 2021:  $3,447,530
• 2020:  $3,559,640
• 2019:  $3,218,032
• 2018:  $3,887,829
• 2017:  $2,338,867
• 2016:  $2,749,420

The following severance, supplemental employer retirement, deferred compensation information was reported on  the Form 990, Schedule J, Part III Supplemental Information:

• Richard Zimmerli received $6,640,096 in severance payments and $339,021 in supplemental employer benefits in 2023.
• Gregory M Johnson received $1,655,170 in supplemental employer payments in 2023.
• Paul Krakowvitz received $2,130,545 in severance payments in 2023.
• Mikelle Moore received $1,719,770 in severance payments in 2023.
• Janie Wade received $3,903,603 in severance payments and $552,445 in supplemental employer benefits in 2023.
• James Sheets received $821,378 in severance payments in 2023.
• Amy Church received $24,440 in supplemental employer payments in 2023.

IHC Health Services paid for companion travel.  In addition, the organization paid for health or social club dues or initiation fees, and provided tax indemnifications and/or gross up payments. For more detailed information on these expenses, see the Form 990, Schedule J, Part III, Supplemental Information.

410 independent contractors received more than $100,000 in compensation. The 5 most highly compensated were reported to be:

• $247 million:  RI RCM Inc., of Chicago, IL for revenue cycle management
• $ 50 million:  Summit Physician Specialists, of Murray, UT for medical services
• $ 20 million:  Utah Valley Radiology Associates, of Orem, UT for medical  services
• $ 15 million:  Southwest Emergency Physicians, of St George, UT for medical services
• $ 15 million:  Associated Regional and Univ, of Salt Lake City, UT for medical services

To read the IRS Form 990 (2023), click here.