Asheville, North Carolina, September 29, 2015 – Capstone Health Alliance, a regional purchasing organization with acute and continuum of care members in 12 states announced an agreement today with Pearl Meyer, the leading executive compensation consulting firm specializing in alignment of business and leadership strategy with pay programs.
Pearl Meyer works with companies in a broad number of industries and specializes in advising healthcare Boards and executive teams in the creation and implementation of innovative compensation programs to attract, retain, motivate and reward executives. The firm also advises Boards on issues pertaining to executive compensation governance, oversight, compliance and disclosure.
“Pearl Meyer is excited to join the Capstone vendor partner group,” said Steve Sullivan, a Principal with Pearl Meyer. “Capstone helps its members to be successful, and that’s our client mission as well. We know that many of Capstone’s members are in the process of changing direction and modifying their business strategies to succeed in the Affordable Care Act era. Our healthcare clients are working to align their redefined business strategies with their executive compensation programs. We believe carefully designed executive pay programs can become a powerful management tool to help define and drive the board’s vision.”
Tom Garvey, Chief Financial Officer of Swedish Covenant Hospital said, “What’s really valuable in the services Pearl Meyer provides is not solely their high quality executive compensation market data; but that in combination with their ideas regarding new, progressive ways to pay healthcare executives. Pearl Meyer helped us to clearly define our strategic performance metrics, and recommended an objective, formulaic approach to measuring our performance. They also assisted us with our IRS compliance review under Section 4958 Intermediate Sanctions.”
About Capstone Health Alliance
Headquartered in Asheville, NC, Capstone is a regional purchasing organization of healthcare members that includes more than 145 hospitals in states across the east spanning to the mid-west. Capstone’s contracting strategy allows hospitals of various sizes and locations to substantially improve their cost savings opportunities through the power of aggregation and collaboration. Capstone delivers quantifiable savings and actionable data that enable better supply chain decisions for its member healthcare facilities. In addition to cost savings initiatives, Capstone members collaborate to share best practices and pursue resource utilization initiatives, all with the intent of improving cost, quality, and outcomes in patient care.
About Pearl Meyer
Pearl Meyer is the leading advisor to Boards and senior management on the alignment of executive compensation with business and leadership strategy, making pay programs a powerful catalyst for value creation and competitive advantage. Pearl Meyer’s global clients stand at the forefront of their industries and range from emerging high-growth, not-for-profit, and private companies to the Fortune 500 and FTSE 350. The firm has offices in New York, Atlanta, Boston, Charlotte, Chicago, Houston, London, Los Angeles, and San Francisco.