The turnover rate for hospital CEOs is the highest reported since the American College of Healthcare Executives began tracking these rates back in 1981, according to a new report from ACHE. In 2013, the turnover rate was 20 percent, while the annual rate has fluctuated between 14 percent and 18 percent in the previous decade.
By means of comparison, the turnover rate was 17 percent in 2012 and 16 percent in 2011 and 2010, respectively. The lowest reported rates by ACHE were 13 percent in 1990 and 1983.
ACHE compiles the hospital CEO turnover rates based on changes in an organization's executive structure as reported to the American Hospital Association.
The increase in the turnover rate may be indicative of a combination of factors, including an increased number of baby boomers seeking retirement, the emerging trend toward consolidation in our industry and the complexity and amount of change going on in health care today, said Deborah J. Bowen, president and CEO of ACHE, in a written statement. The increase in the rate reinforces the need for health care leaders to work with their boards to ensure appropriate succession plans are in place.
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