It might be the challenge of being on the playing field for the rollout of the Patient Protection and Affordable Care Act. Or, it might be a lack of qualified successors, or a board of directors that just can't say goodbye, or even something as mundane as a gutted 401(k).
Whatever the reason, many healthcare CEOs age 55 and older say they're in no hurry to retire.
A May survey of 200 CEOs by executive search firm Witt/Kieffer found that only 24% are planning to retire within four to five years. Of those, 14% will retire within three years and 8% plan to retire within one year.
Nearly half of respondents?42%?are more than five years away from retirement and 12% have no retirement plans in place.
Most surprisingly, of those in the age 55-59 group, 71% either have no retirement plans, or plan to retire in more than five years.
Elaina Genser, senior vice president/managing director at Witt/Kieffer's western region says 88% of the CEOs say they have goals achieve before they retire and 83% said they wanted to help with the challenges ahead in healthcare, including PPACA.
"There are a lot of them thinking 'this the biggest thing since Medicare. I want to be part of it, and then I can leave,'" Genser tells HealthLeaders Media.