Healthcare Administration Salary and Career – Overview
Healthcare administration is one of the fastest-growing professional fields in the US and has immense room for career advancement. It also has a high earning potential, work-from-home opportunities, and various online degree programs.
In this article, we shall examine what healthcare administrators do, how much they earn as a salary, and the careers available for aspiring healthcare administrators in the US.
What is the Healthcare Administration
Healthcare Administration Salary and Career – What Is Healthcare Administration?
Healthcare administrators, also known as healthcare service managers or executives, are responsible for planning, coordinating, and directing healthcare services.
Healthcare administrators usually work closely with physicians, nurses, and other healthcare providers to ensure the facility runs smoothly and safely and complies with all local and national regulations.
Usually, healthcare administrators do not interact with patients daily, but they assist in creating policies and making healthcare changes. Healthcare administrators supervise the daily operations of hospitals, medical facilities, and clinics, which includes managing the staff, finances, and overall compliance with every governing authority.
These professionals are responsible for consulting with the hospital staff throughout and delegating suitable duties to the staff.
Where Are Healthcare Administrators Employed
Healthcare administration is an impressively vast field with numerous different career opportunities. You can start at an entry-level role and work your way up to become a medical administrative assistant or even reach the CEO position of a hospital.
Here are some of the most prominent career opportunities for healthcare administrators in the United States:
- Hospital CEO
- Hospital CFO
- Hospital Department Manager
- Clinical Administrator
- Nursing Home Administrator
- Facility Operations Manager
- Medical Office Business Manager
- Health Information Manager
- Health Care Staffing Agency Manager
- Healthcare Policy Specialist
- Healthcare Information Administrator
- Healthcare Program Director
- Healthcare Policy Specialist
What Do Healthcare Administrators Do
Healthcare administrators are responsible for managing the day-to-day operations of a hospital, clinic, or any other healthcare facility. They create work schedules, maintain compliance with state and federal regulations, and monitor budgets.
Healthcare administrators also coordinate with other medical and nursing staff throughout the healthcare facility. They work closely with physicians, certified nurses, other healthcare providers, and patients and their families. These professionals usually work the first shift to collaborate with other healthcare professionals for efficient operations.
How Much Is a Healthcare Administrator’s Salary
Healthcare administrators are among the highest-paid careers for those who want to work in the healthcare industry but not the clinical route. As of the most recent data from the US Bureau of Labor Statistics (BLS), the median annual wage for medical and health services managers, which includes healthcare administrators, was approximately US$ 104,280. This figure may need to be updated for accuracy with the most current BLS data.
Here’s a small breakdown of the average salary scale for healthcare administrators, as relating to their experience:
- Less than 1 year experience = US$ 61,544 per year
- Around 1 – 4 years’ experience = US$ 65,521 per year
- Between 5 – 9 years’ experience = US$ 80,644 per year
- Between 10 – 19 years’ experience = US$ 87,020 per year
- Over 20 years experience = US$ 93,130 per year
What Is the Career Outlook for Healthcare Administrators
The US Bureau of Labor Statistics (BLS) projects that employment for medical and health services managers is expected to grow by 32% from 2019 to 2029, much faster than the average for all occupations. This growth rate reflects the industry’s response to an aging population and a greater need for healthcare services. Most of this growth is expected to be witnessed because the baby boomer population continued to age. Besides this, technology is also allowing people to live longer lives.
Career experts expect this significant demand to continue to increase proportionately to the needs of doctors, nurses, and other healthcare professionals. Hence, healthcare administrators will be in higher demand to ensure that hospitals and clinics run smoothly.
As a healthcare administrator, you can find a career as one of the following:
- Community health centers
- Nursing facilities
- Healthcare consulting firms
- Drug treatment/rehabilitation facilities
- International health agencies
- Government health agencies
- Mental health centers
- Professional healthcare associations
- Adult daycare centers
- Ambulatory care centers
- Academia
- Medical supply companies
- Consulting firms
- Health insurance companies
- Outpatient surgery centers
- Rehabilitation centers
- Managed care facilities
- Urgent care clinics
- Hospitals
- Home healthcare agencies
- Private physician practices
- Group medical practices
Conclusion
With an entry-level healthcare administration degree, you can work in various healthcare services. You can also apply for the office manager, medical insurance specialist, administrative assistant, or consultant post. Once you earn an advanced degree (MBA or MHA), you can become a top-level healthcare administrator.
See Also
Medical Billing and Coding Salary
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