Pharmacy directors see healthy increase in pay in 2003














Salaries of pharmacy directors in 2003 were up substantially from 2002. Data from the 2003 Managed Care Compensation Report issued by the Hay Group, a global management consultancy specializing in human resource issues, suggest directors of pharmacy received a 14.3 percent increase in base salary from 2002 to 2003. The survey includes responses from 42 managed care organizations across the U.S. Eleven were for-profit companies.

Median total direct compensation was also higher. Pharmacy directors at for-profit organizations reported a median total direct compensation of $111,300 in 2002, compared to $130,300 in 2003, a gain of 14.5 percent. At the not-for-profits, median total direct compensation was slightly lower: $120,300 in 2003 and $120,600 in 2002. Total direct compensation is the sum of base salary, bonus, and long-term value investments (e.g., stock options). According to the Hay Group, this movement reflects the increased importance many of these positions hold in the financial and clinical success of the organization. The pressure to find the right people delivering the right results in these jobs is likely to continue.

SOURCE: 2002–2003 MANAGED CARE COMPENSATION REPORT, THE HAY GROUP, INC.

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HAP, a subsidiary of Henry Ford Health System, is a nonprofit health plan providing coverage to individuals, companies and organizations. This executive develops strategies to meet membership and revenue targets through products, pricing, market segmentation and advertising.  Aligns business among Business Development, Commercial Sales, Medicare and Public Sector Programs and Product Development. Seeks to enhance and be responsible for business development and expansion through the development of an effective product portfolio, strong interpersonal relationships and service excellence.

Apply via email to jfedder1@hfhs.org or online at http://p.rfer.us/HENRYFORDlXqAJA

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