Community Health Systems's Wayne Smith - CEO Pay

Wayne Smith - Community Health Systems (CYH)  

Total Revenue: $12,149,700,000

Total Compensation: $17,835,990

Details: Institutional Investor named Smith the top healthcare CEO in 2009, the third consecutive year he received this honor. Smith also enjoyed a mammoth 20 percent raise, which likely helped to cushion the blow from a whistleblower lawsuit that has dragged on since 2005 and which poses a potential liability of more than $142 million. The highly publicized False Claims suit-supported by the U.S. Department of Justice-alleges that Brentwood, Tenn.-based CYH defrauded Medicaid of $47.5 million at three New Mexico hospitals. A final ruling is still in the works.

Compensation: Although Smith decreased his options awards by nearly $1.2 million in 2009, he still earned roughly $7 million more than in 2008. Smith's base salary increased 20.4 percent in 2009--from about $1.08 million in 2008 to $1.3 million--"to compensate for his day-to-day performance of duties," the company states in its definitive proxy statement.

In addition, his change in pension value and nonqualified deferred compensation earnings totaled $7,584,981. Of Smith's "other compensation," more than half ($143,816) accounted for corporate aircraft use, and about $5 thousand for membership dues.

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