Hospital CEO turnover encouragingly low for third straight year: ACHE
U.S. hospital CEOs continue sticking with the job at the highest rate since 2010 and 2011.
In those first two years of the last decade, the CEO turnover rate sank to a countrywide average of just 16%.
Calendar year 2022 saw that healthy rate tied—just as happened in 2020 and 2021.
The figures come from the American College of Healthcare Executives, which has tracked hospital CEO turnover annually since 1981.
ACHE’s latest report on the data, released Aug. 8, shows 2013 as the most volatile year in recent times. CEO turnover that year hit 20%.
The current three-year stretch of 16% turnover signals a positive reckoning, ACHE president and CEO Deborah Bowen suggests.
“As hospitals continue to wrestle with workforce and financial challenges, the value of strong and capable leaders in healthcare has never been more important,” Bowen remarks in a news release.
The report also shows the best years for hospital CEO retention came decades ago. In 1983 and again in 1990, the turnover rate bottomed out at 13%.
Also of note, Montana was the state with the highest turnover rate last year—30%—and Vermont was close behind at 29%.
HOSPITAL CEO TURNOVER BY YEAR
- 2022—16%
- 2021—16%
- 2020—16%
- 2019—17%
- 2018—18%
- 2017—18%
- 2016—18%
- 2015—18%
- 2014—18%
- 2013—20%
2022 CEO TURNOVER BY STATE
- Montana—30%
- Vermont—29%
- Alaska—26%
- Missouri—25%
- Michigan—24%
- Arkansas—24%
- Hawaii—24%
- North Dakota—24%
- Kansas—23%
- Alabama—23%
ACHE leader Bowen urges hospitals to see succession planning as “a critical piece to ensuring that healthcare organizations have a pipeline of leaders who are well-prepared to address the challenges of tomorrow.”
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Dave P. has worked in journalism, marketing and public relations for more than 30 years, frequently concentrating on hospitals, healthcare technology and Catholic communications. He has also specialized in fundraising communications, ghostwriting for CEOs of local, national and global charities, nonprofits and foundations.