Penn Highlands executives take pay cuts to help with pandemic response
As part of the overall plan to stabilize the financial condition of the local healthcare system due to the COVID-19 pandemic, the Penn Highlands Healthcare (PHH) System Senior Executive Leadership Team has voluntarily taken a reduction in their pay. This action will shift additional dollars to the system’s pandemic response. In all, 18 senior executives from the corporate office and hospitals have volunteered to take a reduction during the COVID-19 emergency.
All hospitals across the nation are facing financial challenges as they continue to see reductions in patient volumes due to the pandemic. At Penn Highlands Healthcare, those volumes have been reduced by over 40 percent in recent weeks.
“Given these realities, our senior executive leadership team has volunteered to make these changes to their salaries,” Steve Fontaine, PHH Chief Executive Officer, said in a statement today. Fontaine noted that his salary will be reduced by 15 percent while the other members of the system’s senior executive leadership team will reduce their salaries by 10 percent.
“These actions are appropriate for leaders to take in challenging times and very much appreciated,” stated Fontaine.