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Jeffrey Romoff, president and CEO of UPMC.
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UPMC CEO compensation jumps to $8.54 million

Rebecca Droke/Post-Gazette

UPMC CEO compensation jumps to $8.54 million

UPMC President and CEO Jeffrey Romoff collected $8.54 million in total compensation for the fiscal year that ended June 30, a $2.42 million increase from the previous year.

Mr. Romoff made $6.12 million in the fiscal year ended June 30, 2017.

A UPMC spokeswoman on Friday said the increase “is due to the timing of when portions of Mr. Romoff’s deferred compensation were awarded in 2016 and 2017.”

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Mr. Romoff’s name tops the list of highest paid executives and physicians listed in the Pittsburgh health giant’s Form 990, a filing that nonprofit organizations must submit to the Internal Revenue Service and make available for public inspection each year.

Darrin Kelly, of Greenfield and president of Allegheny/Fayette central labor council, center, expresses his frustration with the rules to have the public enter the UPMC board meeting during a rally outside UPMC Montefiore Hospital, Tuesday, May 28, 2019, in Oakland. UPMC hospital workers, patients, and community leaders gathered to protest before a UMPC board public meeting.
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The filing was posted on UPMC’s website shortly before midnight Thursday and can be viewed at https://www.upmc.com/about/finances/irs-filings.

Mr. Romoff’s compensation tops a list of 33 staff members who made at least $1 million in compensation in fiscal 2018. Of those, 10 received at least $2 million and three made at least $3 million.

At the top of the list behind Mr. Romoff, were Diane Holder, president and CEO of UPMC Health Plan ($3.52 million), David Farner, chief strategic and transformation officer ($3.34 million), and Chief Medical and Scientific Officer Steven Shapiro ($3.16 million).

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By comparison, Cleveland Clinic’s most recent filing last November reported that its now-retired President and CEO Toby Cosgrove received $7.63 million in total compensation for calendar year 2017.

UPMC operates the Pittsburgh region’s largest combined network hospital and insurance business and is the state’s largest non-government employer.

Earlier this month, it reported operating revenues of $5.1 billion for the first quarter of 2019, up from $4.6 billion for the same period a year ago, but showed a $41 million drop in operating revenue, from $92 million to $51 million.

Highmark Health, UPMC’s primary competitor, is scheduled to submit its next Form 990 return in November.

President and CEO Jeffrey Romoff speaks during a  groundbreaking ceremony on the site of the new UPMC Vision and Rehabilitation Tower at UPMC Mercy on Thursday, March 14, 2019, in Uptown.
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In its most recent filing, Highmark Health reported President and CEO David Holmberg’s total compensation at $5.55 million, which included $3.58 million in bonus and incentive payments.

In a separate filing, Highmark Health subsidiary Allegheny Health Network reported its president, Cynthia Hundorfean, received $1.76 million in compensation.

Steve Twedt: stwedt@post-gazette.com or 412-263-1963.

First Published: May 17, 2019, 3:20 p.m.

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