Eighteen Connecticut hospital executives received pay packages over $1 million last fiscal year, as many of the state's acute care providers saw their financial performance improve from a year earlier, a new report says.
The state's two largest hospitals—Hartford Hospital and Yale New Haven Hospital—each had four senior executives that received million-dollar plus pay packages last fiscal year, while Stamford Hospital had two administrators earn over $1 million, according to a new report from the state's Office of Health Care Access, which regulates hospitals.
The OHCA report did not name individual administrators, but it did list the top 10 paid positions at the state's 30 acute care hospitals.
The highest paid hospital executive in fiscal 2012 was the former president & CEO of William Backus Hospital, who received a total pay package of $3.4 million. That included $3.2 million in fringe benefits, the report said.
The highest active paid hospital administrator was Hartford Hospital's vice president of academic affairs and chief academic officer who received $3.4 million in compensation.
The million dollar payouts came in a year when many Connecticut hospitals saw their financial performances improve.
In 2011, Connecticut hospitals saw their average operating margin creep over 3 percent for the first time in years. In 2012, the statewide average operating margin jumped to 5.11 percent.
Hartford, Bristol, Manchester, Middlesex, and Rockville hospitals, along with the Hospital of Central Connecticut all reported higher margins in fiscal 2012, while St. Francis Hospital and Medical Center and Farmington's John Dempsey Hospital narrowed their losses.
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