Chief compliance officers earn more at large providers, least in government healthcare
CCOs at companies with more than $3 billion in annual revenue earned an average of $297,604 a year.
Chief compliance officers working for a larger organization earn more than their peers at smaller healthcare providers, according to a survey of CCOs and their staffs released this week by the Health Care Compliance Association.
CCOs at companies with more than $3 billion in annual revenue earned an average of $297,604 a year, while those at small organizations with revenue less than $5 million earned $90,487, according to the survey.
The survey also found that CCOs working for academic healthcare providers earned the highest average total cash compensation at $191,423; followed closely by CCOs working for publicly traded healthcare companies at $187,832 a year.
Those working at governmental healthcare providers earned the lowest average compensation at $103,588 a year.
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In general, the larger the organization and the compliance department, the greater the salary.
Chief compliance officers managing an annual compliance budget of less than $100,000 earned $96,356, according to the survey results, while those managing budgets of $1 million or more earned $231,167.
The typical compliance officer manages an annual compliance budget of approximately $220,000. Twenty percent of the CCOs reported managing an annual compliance budget of over $1 million.
CCOs managing one employee earned an average of $100,160 while those managing more than 20 employees earned $262,326, according to the survey.
Other factors increasing salary include years on the job and certification. Certified public accountants and individuals certified in Healthcare Research Compliance reported the highest average total compensation.
Total compensation was highest in the Pacific, South Atlantic and New England regions.
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CCOs located in the South Atlantic and Pacific regions were more dependent on bonuses, while those in the New England region received a higher base salary.
More than 51 percent of CCOs said they were not eligible for a bonus. On the other hand, nearly 40 percent reported being bonus-eligible up to 20 percent of their salary while 10 percent reported being bonus-eligible for 21 percent or more of their salary.
Only 10 percent of the CCOs said they had a contract, and those with a contract earned significantly more than those without one: $165,843 versus $129,694.
Twitter: @SusanJMorse
