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
- 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.
- Provide training for new doctors, and keep medical staff up to date on facility regulations and procedures.
- 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.
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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 with a lot of experience do not necessarily enjoy more money. During their first five years in the workforce, individuals in this position earn $276K on average. Survey participants with five to 10 years under their belts see an only a slightly bigger average of $285K. People with 10 to 20 years of experience make an average of about $299K in this role. After two decades in the workforce, the average Chief Medical Officer generally earns more than ever; median pay for this group is estimated at $313K.
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