CEO Romoff’s $6.99M tops list of UPMC compensation
Pittsburgh Post-Gazette
UPMC president and CEO Jeffrey Romoff’s run as a 6-million-dollar man has hit its fifth consecutive year, according to federal tax forms released Friday, and he is one of seven executives at the Pittsburgh region’s largest health system whose salary and benefits exceeded $2 million for the fiscal year that ended June 30.
The filing with the Internal Revenue Service also shows that UPMC’s top compensated executives and physicians include another 24 staff members whose compensation tops $1 million. In all, Mr. Romoff received $6.99 million in total compensation last year, including $3.2 million in bonus and incentive pay, up from $6.42 million the previous year.
By comparison, a spokesperson for the Mayo Clinic based in Rochester, Minn., said Mayo’s president and CEO, physician John Noseworthy, received $2.52 million in total compensation in 2015, the most recent information available.
Highmark Health’s most recent filing with the Internal Revenue Service, which came out in November, showed that president and CEO David Holmberg received $3.8 million in total compensation in 2015, followed by now-retired Allegheny Health Network president John Paul at $2.2 million.
While an eye-catching number, the $6.99 million in compensation would place Mr. Romoff only 20th among the highest-compensated executives among publicly held companies in the Pittsburgh region.
Those listed as receiving more than $2 million in total compensation were James Luketich, chairman of the University of Pittsburgh’s Department of Cardiothoracic Surgery ($2.47 million); UPMC Health Plan president and CEO Diane Holder ($2.39 million); Steven Shapiro, UPMC chief medical and scientific officer ($2.35 million); Charles Bogosta, president of UPMC’s international division ($2.23 million); UPMC neurosurgeon Bejjani Ghassan ($2.19 million); and David Farner, chief strategic and transformation officer at UPMC ($2.10 million).
Of the 31 people making at least $1 million, 17 are physicians and 14 are executives.
The UPMC filing — required for entities to retain their taxexempt status as 501(c)(3) charitable, nonprofit organizations — can be viewed online at http://www.upmc.com/about/ finances/irs-filings/Documents/
The document lays out financial and other information for the 2016 fiscal year that ended June 30, although UPMC also provides updates on its financial performance at quarterly financial media briefings.
At its most recent briefing May 3, the region’s largest health network reported $11 billion in operating revenue through the first nine months of the current fiscal year and net income of $871 million.