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.”
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.
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).
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.
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.