Labor Cost Management

2017 Vice President of Revenue Cycle Compensation Survey

July 21, 2017 12:07 pm

Average cash compensation $279,600
Average gross annual salary $232,500
Percentage eligible for bonus/profit sharing 88%
Average bonus/profit share $53,800
Median cash compensation $252,500
Percentage reporting directly to the top administrator 22%
Percentage reporting to an officer  77%     
Number of participants 64

Demographics

Average age 54
Average years experience in health care 30
Average years member of HFMA 19
Average years in current position 6
Average number of employees under direction  509    
Median number of employees under direction 350

Certifications

Percentage Compensation
CPA 9% -small sample-
FHFMA or CHFP 27% $280,500

Education

Percentage Compensation
Bachelor’s degree 36% $261,100
Master’s degree 53% $278,700
       

Organization Type

Percentage Compensation
Hospital or medical center 25% $251,700
System level, headquarters or regional 75% $288,900

Gender

Percentage Compensation
Men 47% $290,500
Women 53% $270,000

Net Operating Revenue of Employer

Percentage Compensation
Less than or equal to $900 million 31% $218,500
From $950 million to $2.2 billion 233% $276,600
Greater than or equal to $2.3 billion 33% $349,400

Years in Health Care

Percentage Compensation
Less than or equal to 26 years 33% $253,800
From 27 to 33 years 31% $286,300
More than or equal to 34 years 34% $297,800

Number of Reporting Employees

Percentage Compensation
Less than or equal to 270 employees 33% $229,700
From 280 to 500 employees 36% $261,900
Greater than or equal to 525 employees  31%    $352,400 

Region

Percentage Compensation
Northeast 27% $294,700
South 31% $281,100
Midwest 27% $238,000
West 16% -small sample-
       

Adjusted Medicare Wage Index 2017 

Percentage    Compensation 
Less than or equal to .9082  34%    $222,000 
From .9089 to 1.0200  33%    $292,400 
More than or equal to 1.0270  33%    $300,300 

Years of HFMA membership

Percentage Compensation
Less than or equal to 14 years 33% $227,600
From 15 to 24 years 34% $295,800
More than or equal to 25 years 33% $314,600

All of the respondents include “vice president” or “VP” in their titles. This sample inludes titles such as “senior” and “executive VP” but not “assistant VP.” Titles also include “revenue cycle” or equivalent. 64 vice presidents responded to the survey, out of 288 sampled, resulting in a response rate of 22%. There is 95% probability that the mean compensation for vice presidents of revenue cycle in HFMA lies between $253,600 and $305,700.

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