Tessa Quinn
UMass Memorial Health Care is a private, non-profit health care system that is the dominant health care provider in Central Massachusetts. It is the product of a 1998 merger that combined privately run Memorial Health Care with the teaching hospital of the University of Massachusetts Medical School. UMass Memorial Health Care has faced financial challenges in the past but has since returned to stability. The system includes several hospitals and satellite facilities, and it employs thousands of people. The executives of UMass Memorial are among the highest-paid nonprofit leaders in Central Massachusetts.
| Characteristics | Values |
|---|---|
| Type of hospital | Non-profit |
| Number of hospitals in the network | 4 |
| Number of employees | 12,906 |
| Number of beds | 1,099 |
| Number of physicians | 2,100 |
| Total compensation of CEO Dr. Eric W. Dickson | $3.1 million |
| Total revenue | $3.2 billion |
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What You'll Learn
UMass Memorial is a non-profit hospital
UMass Memorial Health Care is a non-profit hospital. It is the largest not-for-profit health care provider in Central Massachusetts, with more than 15,500 employees and 2,100 physicians. The health system is the product of a 1998 merger that combined privately run Memorial Health Care with the teaching hospital of the University of Massachusetts Medical School.
UMass Memorial's biggest hospital shares a campus with the medical school on the eastern edge of Worcester, the second-largest city in New England. The hospital network includes four hospitals with a combined 12,906 employees and 1,099 beds. UMass Memorial is also the largest employer in the Worcester community.
In 2013, UMass Memorial was losing millions of dollars a month and was in danger of defaulting on its bonds. Patients were choosing other hospitals, executives were leaving, and employees were unhappy. However, under the leadership of Dr. Eric W. Dickson, who took over as chief executive that year, the hospital's finances turned around.
UMass Memorial's executives are now focused on retaining and attracting patients in the competitive healthcare landscape. The hospital has also entered into discussions with Heywood Healthcare to explore potential affiliation options, which could further strengthen care for patients in Central Massachusetts.
The hospital's executives are among the highest-paid nonprofit leaders in Central Massachusetts, with Dr. Eric Dickson, president and CEO of UMass Memorial Health, earning $3.1 million in total compensation in the fiscal year ending in September 2022.
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UMass Memorial execs are among the highest-paid nonprofit leaders
UMass Memorial Health Care is a not-for-profit health care system based in Central Massachusetts. It is the largest not-for-profit health care system in the region, with more than 15,500 employees and 2,100 physicians. UMass Memorial Medical Center, the largest hospital in Central Massachusetts, is part of the UMass Memorial Health system.
UMass Memorial executives are among the highest-paid nonprofit leaders in Central Massachusetts. According to the Worcester Business Journal, UMass Memorial Health executives constitute six of the 18 highest-paid nonprofit chief executives in the region when ranked by total compensation for the most recent fiscal year available.
Dr. Eric Dickson, president and CEO of UMass Memorial Health, was ranked the highest-paid nonprofit chief executive for the third consecutive year, earning $3.1 million in total compensation in the fiscal year ending in September 2022. This was an increase of over $300,000 from the previous fiscal year, while UMass Memorial Health’s revenue reached $3.2 billion.
Other highly compensated UMass Memorial executives include:
- Edward Moore, President & CEO of UMass Memorial Health Harrington, with a total compensation of $1.9 million as of September 30, 2022.
- Michael Gustafson, Former President of UMass Memorial Medical Center, with a total compensation of $1.8 million as of September 30, 2022.
- Steve Roach, President & CEO of UMass Memorial Marlborough Hospital, with a total compensation of $828,998 as of September 30, 2022.
- Dr. Shlomit Schaal, Former President of UMass Memorial Medical Group, with a total compensation of $767,210 as of September 30, 2022.
The high compensation for UMass Memorial Health executives is part of a broader trend of increasing compensation for hospital executives, even as there is pressure to control rising healthcare costs. Massachusetts, known for its top-quality hospitals, has the highest health costs in the nation.
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UMass Memorial Health Care has improved its finances
UMass Memorial Health Care is a non-profit health care system and the dominant healthcare provider in Central Massachusetts. In 2013, the organization was losing millions of dollars a month and was dangerously close to defaulting on its bonds. Patients were choosing other hospitals, executives were leaving, and employees were unhappy.
However, under the leadership of Dr. Eric W. Dickson, who took over as CEO in 2013, UMass Memorial Health Care has significantly improved its finances. Dr. Dickson implemented a series of drastic cuts and changes, some of which were unpopular, to turn the organization around.
One of Dr. Dickson's biggest initiatives was the implementation of lean management principles, traditionally used in the manufacturing industry to root out waste. This included encouraging employees throughout the system to generate ideas for improving operations, no matter how small.
Two and a half years after Dr. Dickson took over as CEO, the network of four hospitals returned to financial stability and aggressively competed for patients in the ever-changing world of healthcare. Despite the challenges posed by the COVID-19 pandemic, UMass Memorial Health Care reported a $9.6 million operating profit in the quarter ending June 30, demonstrating its continued financial improvement.
UMass Memorial Health executives are among the highest-paid nonprofit executives in Central Massachusetts, with Dr. Eric Dickson earning $3.1 million in total compensation in the fiscal year ending September 2022. As the organization continues to thrive financially, it explores potential affiliations with other healthcare providers, such as Heywood Healthcare, to further strengthen its position in the competitive healthcare landscape.
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UMass Memorial has over 15,500 employees
UMass Memorial Health (UMM Health) is a non-profit healthcare network based in Worcester, Massachusetts. It is the largest healthcare system in Central Massachusetts, with over 15,500 employees and 2,100 physicians. Many of these physicians are members of the UMass Memorial Medical Group and Harrington Physician Services. The UMass Memorial Health system includes three hospitals: the UMass Memorial Medical Center in Worcester, the UMass Memorial Health – HealthAlliance-Clinton Hospital in Fitchburg, Clinton, and Leominster, and the UMass Memorial Health – Marlborough Hospital in Marlborough.
UMass Memorial Health has a strong presence in the community, with locations across Central Massachusetts. The health system is committed to providing access to essential healthcare services and improving the health of the region, including economically challenged areas. This commitment is evident through initiatives such as the Nurses Appreciation Night at Polar Park and the "Stigma-Free at Mechanics Hall" event in Worcester, which aimed to support community members with mental illnesses.
The UMass Memorial Health system offers a comprehensive range of healthcare services, including emergency care, surgical services, behavioural health services, diagnostic imaging, intensive care, cancer care, and more. They also host informational patient seminars and classes on various health-related topics throughout the year.
UMass Memorial Health is the clinical partner of the UMass Chan Medical School, providing access to the latest technology, research, and clinical trials. The system has undergone restructuring towards a more lean business model, and its executives are among the highest-paid nonprofit leaders in Central Massachusetts. Despite financial challenges, UMass Memorial Health continues to strive for excellence in healthcare delivery and community service.
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UMass Memorial is affiliated with the University of Massachusetts Medical School
UMass Memorial Health Care is a private, non-profit healthcare system and the dominant healthcare provider in Central Massachusetts. It was formed in 1998 through a merger between privately run Memorial Health Care and the teaching hospital of the University of Massachusetts Medical School. UMass Memorial's largest hospital shares a campus with the medical school on the eastern edge of Worcester, the second-largest city in New England.
As a non-profit, UMass Memorial prioritises its patients and communities, and its comprehensive system includes several hospitals and satellite facilities. The health network encompasses UMass Memorial Medical Center, UMass Memorial Health-Harrington, UMass Memorial Health-HealthAlliance-Clinton Hospital, and UMass Memorial Health-Marlborough Hospital. Additionally, it comprises facilities such as Ashburnham Family Medicine, Heywood Rehabilitation Center, Summit Family Medicine, and Winchendon Health Center.
UMass Memorial is committed to improving healthcare access and outcomes in the region, including economically challenged areas. Its efforts to enhance financial stability have been successful, reversing previous losses and achieving a surplus. The organisation has also focused on negotiating better rates by purchasing supplies for its entire hospital network collectively.
The affiliation with the University of Massachusetts Medical School has been beneficial, and UMass Memorial serves as a clinical partner for the medical school. This partnership strengthens the healthcare system and provides valuable educational and research opportunities. UMass Memorial's executives are among the highest-paid nonprofit leaders in Central Massachusetts, reflecting the organisation's scale and impact.
UMass Memorial's impact extends beyond healthcare services, as it is the largest employer in the community. The stability and growth of the organisation are crucial to the region's economic well-being, and its financial recovery has been a significant achievement.
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Frequently asked questions
Yes, UMass Memorial is a private non-profit hospital.
Some of the top-paid executives at UMass Memorial include Dr. Eric Dickson, Steve Roach, Peter McDonald, Vincent Strully, and Dr. Shlomit Schaal.
UMass Memorial has over 15,500 employees, making it the largest employer in the community.
