A non-profit healthcare company called Ascension runs hospitals and clinics all around the country. Ascension must reveal the salaries of its highest-paid executives because it is a non-profit. So, how much money does Ascension’s CEO make?
Ascension’s CEO Joseph Impicciche received a total salary package worth $13,615,478 according to the company’s 2019 tax returns. This includes bonuses, incentives, and additional pay in addition to a base income of $1,891,667. It should be noted that Impicciche’s compensation package reduced by almost $2 million from the prior year as a result of modifications made to the company’s executive compensation plan.
There are several routes you can pursue if you want to work in hospital administration. A Bachelor’s or Master’s degree in healthcare administration or a similar discipline is one option. Numerous universities offer degrees designed exclusively for healthcare administration, which can provide you a solid foundation in the field. Working in a healthcare environment, whether as a volunteer or in an entry-level employment, is another way to get experience.
General hospitals, specialty hospitals, teaching hospitals, and research hospitals are the four primary categories of hospitals. While speciality hospitals concentrate on particular fields like cancer treatment or mental health, general hospitals offer a range of services and care for a variety of ailments. Research hospitals concentrate on medical research and development, whereas teaching hospitals are connected to medical schools and offer students practical training.
Hospitals operate in many ways like companies even though they are frequently seen as non-profit institutions. Hospitals need to make money in order to pay their bills and make investments in new equipment and facilities. Hospitals must, however, reinvest their revenues back into the company rather than distributing them to shareholders like for-profit companies do.
Finally, it’s crucial to remember that, despite being undoubtedly involved in the business of healthcare, doctors are not traditionally viewed as businessmen. Instead, medical professionals who treat and care for patients are doctors. On the other hand, hospital administrators are in charge of overseeing the business’s finances, daily operations, and overall plan.
Joseph Impicciche, CEO of Ascension, earned a total salary package of $13,615,478 in 2019. You can obtain experience through entry-level roles or pursue a degree in healthcare management if you’re interested in a career in hospital administration. There are four primary categories of hospitals, and while they are run as businesses, profits must be put back into the company. In contrast to hospital managers, who are in charge of overseeing the organization’s money and operations, doctors are not often regarded as businessmen.