Retired Atrium Baptist executive received $7.63 million in 2024 pay, an increase of nearly 50%

Dr. Julie Ann Freischlag, the now-retired top executive of Atrium Health Wake Forest Baptist, received a 45.6% increase in total compensation for fiscal 2024, raising her pay to $7.63 million, according to the nonprofit's federal tax filing.

Baptist is the largest employer in northwest North Carolina with more than 27,000 workers systemwide. The number of workers increased by more than 12,000 during her tenure, which began in 2017 and ended with her retirement at age 70 on Dec. 31, 2025.

Baptist's executive compensation disclosures are based on Form 990 filings to the Internal Revenue Service.

The Baptist filings typically are at least 17 months old when they become available each May, as is the case with the 2024 filing.

In terms of base salary, Freischlag received a 1.6% decrease to $2.48 million, after a 10.6% increase in 2023, a 20% increase in 2022, a 30.5% increase in 2021, and a 5.6% increase in 2020.

However, Freischlag's 2024 bonus and incentive compensation jumped 121.3% to $4.36 million.

In the category of "other reportable compensation," it rose by 8.6% to $760,433, representing primarily a taxable SERP (supplemental executive retirement plan) distribution, as well as taxable life and disability insurance premiums.

The supplemental executive plan distribution represents years of accruals that have vested and become payable in accordance with the plan's vesting provisions.

Freischlag also received $20,999 in nontaxable benefits, as well as $19,092 in retirement and other deferred compensation.

Advocate reasoning

Advocate Health, parent company of Atrium Health and Baptist, provided the Winston-Salem Journal with two statements regarding its 2024 executive compensation.

"In today's complex healthcare landscape, strong, impact-oriented leaders are essential to navigate our industry's challenges and continue to redefine care for all," the first statement said.

"To attract and retain the best talent to fulfill our purpose, we offer a competitive compensation package determined by our governing board and consistent with governance best practices, which is guided by independent expert advice and national data from similar-sized organizations."

The second statement focused on Advocate's protocols, noting that executive compensation is based on performance, tied to measurable outcomes in patient safety, quality and community impact.

Healthcare system critics say hospitals use their nonprofit status for tax advantages and public relations, while compensation committees have sought to justify corporate-level wages and benefits for top executives.

Other Baptist executives

Along with Freischlag's retirement, Baptist has had significant executive turnover over the past 2½ years.

Bradley Clark, treasurer, received $2.93 million in total compensation, up 85.4%. In December 2023, Clark was promoted to chief financial officer of Advocate Health.

Terry Williams, former chief strategy officer, was paid $2.45 million in total compensation, up 25.6%.

Dr. Ebony Boulware, who succeeded Freischlag as dean of Wake Forest University School of Medicine, had a total compensation of $1.75 million, up 83.3%

J. McLain Wallace Jr., general counsel, received $1.69 million in total compensation, up 65.7%.

Dr. David Zaas, in his 2024 role as Baptist's president, received $1.35 million in total compensation, up 152.2%

Zaas was named Freischlag's successor as Baptist's chief executive on Jan. 1, only to return to Duke University Health System as its chief executive on May 1.

Atrium and Baptist have not named a new full-time chief executive and have launched a national search.

Cathleen Wheatley, Baptist's president and chief nursing officer, received $760,917 in base salary, $319,461 in bonus/incentive pay and $1.29 million in total compensation, up 9.3%.

Advocate CEO compensation

Advocate Health's chief executive Eugene Woods saw a 39% raise in compensation to nearly $26 million in fiscal 2024 in his first year as his first year as the sole top executive of the nation's third largest not-for-profit hospital system.

Woods' overall compensation has skyrocketed from the $6 million he made in 2018. He also received a significant compensation increase following Atrium's acquisition of Baptist in October 2020.

By comparison, Woods received $18.58 million in total compensation in 2023, along with $ 14.1 million in 2022, $9.8 million in fiscal 2021, $7.9 million in 2020, and $7.2 million in 2019.

Atrium announced on May 1 its plans to acquire WakeMed in Raleigh, with a $2 billion capital investment.

However, Wake County's Board of Commissioners on May 4 voted to delay considering the Atrium offer for at least 90 days. Because WakeMed originated as a county hospital, commissioner approval is necessary for any takeover.

The ongoing surge in major not-for-profit healthcare systems consolidations within North Carolina has led a state Republican senator to submit legislation that would serve as a governor on such transactions.

Sen. Jim Burgin, R-Harnett, filed Senate Bill 978, titled "Healthcare competition reforms."

One of SB978's goals is to require the approval of not-for-profit healthcare system acquisitions by at least two of the following Council of State members: the attorney general, the auditor and the treasurer.

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This story was originally published May 27, 2026 at 5:45 AM.