UPMC CEO Jeffrey Romoff made $6.12 million in 2016, IRS filings show
UPMC President and CEO Jeffrey Romoff made $6.12 million in 2016, nearly $900,000 less than he did the previous year, tax forms filed Friday show.
Romoff's compensation was down from $6.99 million in 2015 and $6.4 million in 2014, according to the nonprofit health care system's latest Form 990 filings with the Internal Revenue Service. The public documents cover UPMC's fiscal year that ended June 30.
The next highest-paid employee in 2016 was Diane Holder, executive vice president and president of UPMC Health Plan, who took home $3.68 million in salary and related compensation — more than $1 million more than she did the previous year, the filings show.
Among other employees UPMC paid the most in 2016:
• Robert A. Demichiei, CFO and executive vice president, $2.7 million.
• David Farner, executive vice president and chief strategic and transformation officer, $2.65 million.
• Dr. Stanley Marks, board chair of the UPMC Hillman Cancer Center and chief of the division of hematology/oncology at UPMC Shadyside hospital, $2.6 million.
• Dr. Steven D. Shapiro, chief medical and science officer, executive vice president and president of the health services division, $2.6 million.
• Dr. James Luketich, director of thoracic surgical oncology, co-director of the Lung Cancer Center and cardiothoracic surgery department chair, $2.44 million.
About 10 people paid by UPMC made more than $2 million in 2016, up from seven who did so the previous year, the IRS filings show.
Twenty UPMC employees made more than $1 million, compared with 31 in 2015.
A total of 7,956 people earned more than $100,000, down slightly from 8,005 in 2015 but up from 6,721 in 2014, according to the filings.
Spokeswoman Susan Manko said an executive compensation committee of UPMC's board determines compensation based on annual evaluations of how employees perform and whether they meet “written, clearly defined goals — including quality of care, community benefit, financial measures and other key factors.”
UPMC finished its 2016-17 fiscal year with $5.6 billion in net assets, the IRS filings show.
Last week, UPMC boasted of having one of its most profitable quarters in seven years. The health care giant reported $4.6 billion in operating revenue in the first quarter of 2018, including $97 million in net income.
UPMC is Pennsylvania's largest employer outside of the government. The nonprofit health care system employs more than 80,000 people, including more than 4,600 physicians across 30 hospitals and more than 600 doctor's offices.
Its insurance arm provides coverage to more than 3.4 million people.
Pittsburgh-based rival Highmark Health has net assets of about $6.5 billion.
Highmark Health President and CEO David Holmberg made $2.62 million in 2016 — a more than $1 million pay cut from the prior year because of failing to meet requirements for earning performance-based bonuses.
Natasha Lindstrom is a Tribune-Review staff writer. Reach her at firstname.lastname@example.org, 412-380-8514 or via Twitter @NewsNatasha.