In accordance with the Broader Public Sector Executive Compensation Act, RVH's proposed Executive Compensation Program was publicly posted for a 30-day stakeholder feedback period from January 22 to February 20, 2018. We will review all comments to ensure the Executive Compensation Program is appropriate, reasonable and accountable. All comments will be kept on record for two years at the request of the Government of Ontario. Following review of the input and ministry approval, the final Executive Compensation Program will be posted.
Thank you for your time and thoughtful contribution.
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An independent expert panel, led by the Honourable John Manley, released its comprehensive report on executive compensation in Ontario's hospital sector and found the compensation of Ontario's hospital CEOs is fair, reasonable and comparable to their counterparts in other public sectors.
RVH employs almost 2,600 staff members and its 2016-17 operating budget is about $317 million. The hospital logged over 450,000 patient visits last year. The responsibility of leading an organization this large and complex is extraordinary and fairly reflected in the salaries of senior executives.
The President and Chief Executive Officer (CEO) of Royal Victoria Regional Health Centre is the sole employee of the Board of Directors, as is true of all Ontario hospitals. As such, the Executive Committee of the Board of Directors determines compensation for the President and CEO through a robust and multi-step process.
To attract and retain the best, most experienced executives, a comprehensive, sustainable, best-practice model of compensation has been developed. The RVH Board of Directors also understands taxpayers want to know that their health care dollars are being spent appropriately, so it takes the issue of executive compensation very seriously. Its rigorous and consistent approach to compensation is a cornerstone of the board's award-winning governance model.
The achievement of agreed-upon strategic goals and metrics, regular benchmarking with hospitals of similar size and complexity, along with industry compensation best practices, are all factors that the Executive Committee considers when establishing the President and CEO's compensation package.
In 2010, the province of Ontario introduced the Excellent Care for All Act, and through it a requirement for hospitals to develop a Quality Improvement Plan. Executive compensation is now linked to achieving the performance goals outlined in our Quality Improvement Plan.
Ontario's hospitals operate in one of the most demanding, complex, accountable healthcare systems in all of Canada. Virtually every aspect of hospitals' performance is regularly subject to external, independent scrutiny. In that spirit of openness, RVH fully discloses the contracts of its President and CEO, Vice Presidents and Chair, Medical Advisory Committee.
Executive Compensation Summary - May 2017.pdf
Independent Expert Panel on Executive Compensation in the Hospital Sector Report.pdf
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