Chief Medical Officer (CMO) Salary
Job Description for Chief Medical Officer (CMO)
Chief medical officers (CMOs) are responsible for leading and supervising all medical activities and professionals on behalf of their organization. They are in charge of developing initiatives to increase medical satisfaction, modifying service delivery methods, and researching current clinical trends and patient care methods to modify existing models. They communicate with suppliers, staff, and patients and their families to gather feedback to help improve service processes. These leaders also provide internal support in terms of strategic and operational direction.Read More...
Other tasks performed by chief medical officers include overseeing budgets, creating timelines for deliverables, reporting clinical performance metrics and financial data to organizational executives, and supporting their organization's development efforts. They also conduct regular performance and financial reviews, as well as supervise clinical professionals to ensure treatment and services are provided correctly. At all times, the chief medical officer must follow - and ensure subordinates are following - all relevant safety and privacy protocols.
A medical degree is required for this position, as is previous experience both as a doctor and in a leadership capacity. Industry and leadership certifications may be benficial.
Chief Medical Officer (CMO) Tasks
- Supervise the doctors and manage the health programs at a medical facility.
- Attend meetings with the hospital's board of directors and administration to discuss hospital improvements, policies, procedures, or other matters.
- Provide training for new doctors, and keep medical staff up to date on facility regulations and procedures.
- Ensure the hospital remains in compliance with all government regulations, accreditation programs, and facility policies.
- Coordinate with doctors and administration to monitor the quality of and continue to maintain standards of care.
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Pay by Experience Level for Chief Medical Officer (CMO)
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Chief Medical Officers do not generally earn higher incomes from more experience in the field. Salaries can reach six figures almost right off the bat; beginning workers who have less than five years' experience bring in a median of $283K per year. Chief Medical Officers claiming one to two decades of experience make an estimated median of $295K. In the end, more experience does seem to mean larger paychecks; seasoned Chief Medical Officers with more than 20 years of experience earn a predictably higher median salary of $315K.
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