Labor Cost Management

Director/Manager of Patient Financial Services

July 16, 2015 1:28 pm

Average Cash Compensation $ 113,000
Average gross annual salary $ 108,200
Percentage eligible for bonus or profit sharing 52%
Average bonus or profit sharing $9,100
Median Cash Compensation $ 102,500
Percentage reporting directly to top administrator 9%
Percentage reporting directly to an officer 62%
Percentage reporting to a mid-level manager 28%
Number of Participants 247
DEMOGRAPHICS
Average Age 50
Average Years Experience in Healthcare 25
Average Years Member of HFMA 13
Average Years in Current Position 8
Average Number of Employees Under Direction 58
Median Number of Employees Under Direction 33
CERTIFICATIONS Percentage Compensation
CPA 4% -small sample-
FHFMA or CHFP 11% $135,200
EDUCATION Percentage Compensation
Some College or Associates Degree 25% $87,200
Bachelor’s Degree 41% $118,300
Master’s Degree 28% $133,500
TITLE Percentage Compensation
Supervisor 5% -small sample-
Manager 30% $88,900
Director 64% $128,700
ORGANIZATION TYPE Percentage Compensation
Hospital with 70 beds or less 16% $83,300
Hospital from 72 to 200 beds 17% $97,200
Hospital from 210 to 415 beds 17% $113,200
Hospital with 440 beds or greater 16% $137,400
System level, headquarters or regional 30% $125,800
GENDER Percentage Compensation
Men 28% $130,400
Women 72% $106,400
NET OPERATING REVENUE OF EMPLOYER Percentage Compensation
Less than or equal to $69 million 16% $88,300
From $72 million to $285 million 16% $116,000
From $292 million to $625 million 16% $127,400
Greater than or equal to $660 million 16% $152,800
YEARS IN HEALTHCARE Percentage Compensation
Less than or equal to 18 Years 22% $95,600
From 19 to 25 Years 21% $106,300
From 26 to 33 Years 20% $112,900
More than or equal to 34 Years 21% $142,800
NUMBER OF REPORTING EMPLOYEES Percentage Compensation
Less than or equal to 12 Employees 26% $96,000
From 13 to 30 Employees 24% $89,800
From 33 to 70 Employees 25% $118,500
Greater than or equal to 74 Employees 25% $147,100
REGION Percentage Compensation
Northeast 17% $128,800
South 31% $114,800
Midwest 33% $103,800
West 19% $113,400
YEARS IN HFMA Percentage Compensation
Less than or equal to 5 Years 27% $95,900
From 6 to 9 Years 23% $108,700
From 10 to 16 Years 25% $108,300
More than or equal to 17 Years 25% $139,900

All of the participants have titles indicating mid-management responsibilities. Most titles include wording such as patient financial services, revenue cycle, patient accounting, business office, or billing.

246 patient accounting managers and directors responded to the survey, out of 800 sampled, resulting in a response rate of 31%.

There is 95% probability that the mean compensation for directors and managers of patient financial services in HFMA lies between $105,100 and $120,800.

Advertisements

googletag.cmd.push( function () { googletag.display( 'hfma-gpt-text1' ); } );
googletag.cmd.push( function () { googletag.display( 'hfma-gpt-text2' ); } );
googletag.cmd.push( function () { googletag.display( 'hfma-gpt-text3' ); } );
googletag.cmd.push( function () { googletag.display( 'hfma-gpt-text4' ); } );
googletag.cmd.push( function () { googletag.display( 'hfma-gpt-text5' ); } );
googletag.cmd.push( function () { googletag.display( 'hfma-gpt-text6' ); } );
googletag.cmd.push( function () { googletag.display( 'hfma-gpt-text7' ); } );
googletag.cmd.push( function () { googletag.display( 'hfma-gpt-leaderboard' ); } );