Rapid growth in the healthcare industry has created millions of new healthcare administrator jobs and expanded the number of hospitals, clinics, and community health institutions. This growth has driven an increasing need for qualified healthcare administrators who can successfully manage medical facilities and employees.
The enormous growth in the field shows no signs of slowing. Healthcare is one of the top industries driving economic growth in the United States from the 2008 economic recession. The healthcare industry already makes up about 18% of the nation’s Gross Domestic Product.
Healthcare leadership positions are available for those who earn a Bachelor of Science in Healthcare Administration or a Master of Science in Management in Healthcare Administration. Most healthcare administrators have a bachelor’s degree. According to the United States Bureau of Labor Statistics (BLS). Therefore, Master degrees are more important to Company employers to develop the healthcare market
The BLS projects a 14% increase in healthcare jobs by 2028. That translates into 1.9 million new healthcare workers. For “medical and health service managers,” the BLS projects will be growth 18% by 2028. It is more than double the projected growth rate for all other occupations jobs over the next ten years.
Drive factors of Healthcare Administrators
Many factors drive the need for more healthcare administrators. They include:
• An explosion in healthcare jobs. With millions of new workers, healthcare administrators are needed to manage staff, health records, facilities, and budgets.
• An aging U.S. population. About 20% of the U.S. population will reach retirement age by 2030. More people over 65 years old will live in the United States. A first for the country. More senior citizens will drive the need for more healthcare services.
• Expanded accommodations. Due in part to advances in technology. There are more healthcare accommodations available. Such as screening tests.
• Education. More people of all ages know the advantages of proactive medical care. Therefore does a job better than past generations in regularly seeing medical professionals and taking advantage of healthcare services.
Professionals in the Healthcare industry expect none of the related trends to end soon. The median age of the United States population is expected to increase from 38 to 43 between now and 2060. The number of healthcare jobs, including administrators, should continue to grow over the next few decades.
Potential Jobs for Healthcare Administrators
Every healthcare facility has someone who manages the operation. That includes hospitals, physician clinics, nurse practitioner offices, research laboratories, walk-in clinics, outpatient clinics, testing laboratories, community centers, and government healthcare agencies at the local, state and federal level.
That’s why 401,600 people already work in the field. Jobs titles include:
• Hospital CEO
• Head of quality improvement
• Doctor’s clinic administrator
• The medical group practice manager
• Community health center director
• Healthcare consultant
Salaries depend on job title, location, and type of medical operation. The average annual salary for all healthcare managers in May 2018 reached $113,730, according to federal statistics. The top 10 percent in the field earned over $182,600.
In New England, Massachusetts ranks among the top five states in the country for healthcare administrator employment. Massachusetts ($133,900) and Connecticut ($129,480) rank among the top five states in the United States for healthcare manager salaries.
How to Become a Healthcare Administrator
lead to success for healthcare administrators, including attention to detail, dependability, leadership abilities, communication, and problem-solving.
A BS in Healthcare Administration prepares graduates for leadership positions in the field. It also serves as an important step along the way to earning a master’s degree. The curriculum for the degree program at New England College includes courses in:
• Organization and Management in Healthcare
• Cultural Diversity in Healthcare
• Introduction to Community Health
• Issues in Ethics for Healthcare Administrators
• Healthcare Statistics
• Economics of Healthcare
• Marketing for Healthcare
• Long-term Care
• Financial Management in Healthcare
• Health Informatics
• Health Plans and Insurance
• Outcomes Assessment and Quality Management
• Managerial Accounting For Healthcare Administrators
• Strategic Leadership and Planning for Healthcare
Students leave the program because of knowing both the latest healthcare management explanation (of why something works or happens the way it does) and how to apply it to real-world challenges.
If you wish to improve your skills in Healthcare Administration can enter the MSM (Master of Science in Management).
The program develops,
critical thinking problem-solving skills
teaches graduates to manage healthcare projects.
oversee communication and marketing.
expand knowledge of technology and health informatics.
Healthcare Administration Salary
An entry-level professional who possesses an Associate’s in Healthcare Administration Degree from an accredited school earns approximately $30,000 per annum. On the opposite hand, a starting professional who possesses a Master’s in Healthcare Administration Degree makes a mean of $100,000 or more per annum. Actually, the Healthcare Administration Salary that healthcare administration professionals obtain clearly reflects their degree level, but they’re also are many other factors that contribute to the earning potentials that those individuals enjoy. Those factors include the following: the situation of the medical facility during which individuals work, skill and knowledge levels, professional reputations, resume quality, promotional potentials, and overtime availability.
Nowadays, individuals who retain a minimum of an Associate in Healthcare Administration Degree are actively pursued their skills as medical transcriptionists and medical billers, and that they enjoy a mean Healthcare Administration Salary of $30,000 to $50,000 per annum. Having a bachelor’s degree in this healthcare industry is in high demand. And that they are offered opportunities to figure as healthcare managers and patient care coordinators. These professionals enjoy a mean Healthcare Administration Salary of up to $90,970 per annum. The academic degree holders and these individuals primarily work as healthcare executives and administrators. Masters-level professionals earn the best Healthcare Administration salary of up to $156,050 per annum.