How nice to be the chief medical officer — of a large commercial HMO in or near Minnesota
MANAGED CARE August 2001. ©MediMedia USA
Chief medical officers of HMOs have highest incomes in the Northeast, but their mean incomes are only about $200 more than the average total compensation of CMOs from the next most prosperous region — the West North Central area consisting of Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota. Median salaries are also close, and higher by $20,000 or more than other regions. Warren Surveys collected 2001 data from over 500 HMO and other managed care health plans nationwide. The survey defines CMO as "Top person responsible for overseeing the medical policies, medical service delivery and quality care for health plan members. In a large network and/or insurer-sponsored model, this person may have several medical directors for whom [he is] responsible." All CMOs are physicians.
Lowest compensation in the Mountain states
Bigger plan, better for CMO
Chief medical officers of plans with 500,000 or more members have considerably greater total earnings than CMOs at smaller plans.
Corporate status may play a role
The chief medical officer at a not-for-profit organization is compensated at a lower level than peers at for-profit organizations. The mean difference in salary (including bonuses) between CMOs in for-profit and not-for-profit organizations is over $30,000.
SOURCE: WARREN SURVEYS. THE HMO SALARY SURVEY: SPRING 2001. 815-877-8794