1999 HMO Executive Pay Strong Despite Poor Showing
1999 HMO Executive Pay Strong Despite Poor Showing
If a CEO's most important job is delivering shareholder value, 1999 was hardly a banner year for executives of managed care companies.
Still, last year's poor financial performance, patient backlash against managed care policies, and class-action lawsuits didn't make much of a dent in CEOs' paychecks, according to a recent survey by Atlantic Information Services, Washington, DC. Salaries for CEOs of publicly traded managed care companies ranged from a high of $1.17 million for Cigna Chairman Wilson Taylor to $350,000 for Humana President and CEO Michael McCallister.
Aetna President and CEO Richard Huber, who accused physicians of being greedy when they refused to participate in the payer's HMO product, took home $1 million in 1999, but resigned under shareholder pressure in late February. See below for the survey.
If a CEO's most important job is delivering shareholder value, 1999 was hardly a banner year for executives of managed care companies.
Still, last year's poor financial performance, patient backlash against managed care policies, and class-action lawsuits didn't make much of a dent in CEOs' paychecks, according to a recent survey by Atlantic Information Services, Washington, DC. Salaries for CEOs of publicly traded managed care companies ranged from a high of $1.17 million for Cigna Chairman Wilson Taylor to $350,000 for Humana President and CEO Michael McCallister.
Aetna President and CEO Richard Huber, who accused physicians of being greedy when they refused to participate in the payer's HMO product, took home $1 million in 1999, but resigned under shareholder pressure in late February. See below for the survey.