I'm questioning the "market rate" for a hospital CEO's services....just as the public is questioning the salaries of corporate execs.
I've seen the salary of one hospital CEO because I administered his executive compensation life insurance plan (the hospital's "golden handcuffs").
It's an investment of the hospital to the CEO so he won't fly to greener pastures.
The reason the hospitals are willing to pay this much to prevent CEOs from departing for greener pastures, is that there is a very limited pool of people with both the ability and willingness to serve in these positions -- and they all have lots of other options.