Executive Compensation at Hackensack Meridian Health (2023)

Hackensack Meridian Health (HMH) is a tax-exempt, non-profit integrated healthcare network with 18 hospitals and more than 500 patient care locations in New Jersey.  With more than 40,000 employees, HMH is the largest healthcare provider in the Garden State.

Key financial information is summarized as follows:

• Total revenue was $7.5 billion in 2023, most of which is net patient service revenue ($6.6 billion) and management fees ($230 million) which is from the organizations (16 non-profits, 17 organizations taxed as partnerships, and 11 organizations taxes as corporations or trusts).
• Total expenses were $7.1 billion (including $285 million in depreciation) in 2023 with the largest expenses compensation ($3.6 billion), medical and pharmaceutical supplies ($1.5 billion), purchased and fees for services ($627 million), office and maintenance ($521 million),  and grants ($406 million), most of which were to Hackensack Meridian Health Medical Group Speciality, Primary, and Complex Care.
• Net assets were $5.5 billion at year-end 2023 (up from $4.8 billion the previous year).

40,080 employees received $3.6 billion in compensation in 2023, which equates to an average of $90,000.  38 of the most highly compensated employees were reported to be:

• $7,772,669:  Robert Garrett, CEO, Trustee
• $3,190,589:  Mark Stauder, COO. Chairperson
• $2,876,103:  Robert Glenning, Pres, Fin and IT Div, CFO, Treasurer, Secretary
• $2,469,672:  Ihor Sawczuk, Regional President, Hospitals
• $2,130,767:  Patrick Young, President Pop Health
• $1,984,310:  Kenneth Sable, Regional President, Hospitals
• $1,965,979:  Audrey Murphy, EVP, Co-Chief Legal Officer
• $1,961,352:  Mark Sparta, President, HMH North Reg
• $1,946,588:  Daniel Varga, Chief physician Executive
• $1,743,550:  James Blazer, EVP, Chief Strategy Officer
• $1,604,280:  Timothy Hogan, President, CTS
• $1,562,945:  Jeffrey Boscamp, President and Dean of School of Medicine
• $1,525,967:  Linda McHugh, EVP, Chief Experience Officer, Trustee/Vice Chair
• $1,465,941:  Ann Gavzy, EVP, Co-Chief Legal Officer
• $1,464,230:  Todd Way, Regional President, Hospitals, Trustee
• $1,425,556:  Donna Snider, SVP, Chief Investment Officer
• $1,325,739:  Faizullah Faiz Bhora, Chair, Surgery
• $1,258,920:  Kash Patel, EVP, Chief Digital and Info Officer
• $1,237,100:  James Clarke, EVP and President, Physician Services
• $1,228,298:  Joyce Hendricks, Chief Development Officer, Trustee
• $1,170,995:  Paul Chung, Physician MPI, Trustee*
• $1,167,940:  Anne Goodwill-Pritchett, EVP, Revenue Operations
• $1,124,524:  Andre Goy, Physician in Chief, Oncology
• $1,119,617:  Sara Jean Cuccurullo, VP, Physician in Chief/Chair Med Rehab
• $1,101,969:  David Perlin, EVP, Chief Scientific Officer, Trustee
• $1,078,665:  Theresa Brodrick, EVP,Chief Nursing Executive (T 4/1/23)
• $  994,754:  Kurt Florian Thomas, Chair, Neurology
• $  950,308:  Regina Foley, EVP, Chief Transformation Officer
• $  914,204:  Harpreet Pall, Development Chair, Trustee*
• $  819,921:  Jose Lozano, EVP, Chief Growth Officer
• $  803,464:  Amie Thornton, Trustee/Secretary/Treasurer/Chief Hospital Exec JFK
• $  789,327:  Aida Capo, Medical Director PMA, Trustee*
• $  781,392:  Pranaychandra Vaidya, Medical Director, Trustee*
• $  768,941:  David Kountz, VP, Academic Diversity and CAO, Trustee
• $  741,669:  Donald Parker, President of Carrier Clinic, Trustee
• $  599,117:  Richard Neibart, Sercice Medical Director. Trustee*
• $  449,715:  Adrian Pristas, Corp Medical Director, Trustee*
• $  340,070:  Mark Schlesinger, Chair, Anesthesiology, Trustee*

The 38 employees listed above received $58 million in compensation in 2023.  25 of the 38 (66%) are male while 13 of he 38 (34%) are female.

The most highly compensated employee was Robert Garrett, the CEO and Trustee who received $7.7 million in compensation in 2023.

HMH paid for first class or charter travel and travel for companions.  For details on these expenses, see the Form 990, Schedule J, Part III, Supplemental Information.

HMH reports there were no independent subcontractors paid more than $100,000 in compensation (Part VII, Section B Independent Contractors) yet also reports (Part IX, Statement of Functional Expenses) $627 million was used to pay fees for non-employees in accounting, legal, management, lobbying, fundraising and others). So, there appears to be a reporting error in Part VII, Section B.

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