UPMC CEO Romoff made $6.99 million in 2015
UPMC President and CEO Jeffrey Romoff made $6.99 million in 2015, according to financial filings the nonprofit hospital system posted Friday.
The 71-year-old’s compensation was up from $6.4 million in 2014, according to the documents. The figure includes a base salary of about $1 million plus about $6 million in incentives and deferred income.
Seven UPMC employees made more than $2 million for the year, while 31 made more than $1 million. About 8,000 employees made more than $100,000 – up from 6,721 the year before. The figures were reported in the system’s form-990, filed for fiscal year 2016, which ended June 30. The salaries are for calendar year 2015.
The next highest-paid employees were Dr. James Luketich, director of thoracic surgical oncology, who made about $2.5 million; and Diane Holder, president of UPMC Health Plan, who made about $2.4 million.
Spokeswoman Susan Manko said an Executive Compensation Committee of UPMC’s board determines compensation based on “annual evaluation of written, clearly defined goals, including quality of care, community benefit, financial measures and other key factors.”
Manko attributed the increase in employees making more than $100,000 to the health system’s growth.
The health system reported $13 billion in revenues for the fiscal year, including an operating income of $310 million.
The Hay Group, a Philadelphia-based consulting firm, conducted a study of nonprofit hospital CEOs in 2014, finding that they earned an average of $1.2 million.
Highmark Health paid CEO David Holmberg $3.8 million in 2015, according to its 990. The nonprofit, which includes insurer Highmark Inc. and Allegheny Health Network, lost $34 million that year. Highmark Health returned to profitability in 2016, reporting a $64 million operating income.
Wes Venteicher is a Tribune-Review staff writer. Reach him at 412-380-5676, firstname.lastname@example.org or via Twitter @wesventeicher.