December 17, 2017

 

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What are the Best Areas to Work in the Healthcare Management Field?

There are many great choices for careers in healthcare management. With the high level of demand for trained healthcare managers with graduate level degree, careers in healthcare promise strong career growth and excellent salaries. The Bureau of Labor Statistics reports that the demand for medical and health services managers will increase by at least 22 percent by 2020, with a median salary of $84,270 (at the bachelor’s level). The top 10 percent (those with master’s degrees) of the employment market earn more than $144,000. Ultimately, the top healthcare management careers and salaries will vary depending on what type of healthcare management role you seek. Some of the top jobs are:

Hospital Chief Executive Officer (CEO)

With a median salary of $166,000 – a hospital CEO is responsible for managing all finances within a health care organization. Most CEO’s have a minimum of at least a Masters Degree and a considerable amount of job experience. The median compensation for non-physician CEOs in healthcare organizations was $259,302 in 2012.

Epidemiologist

Epidemiology is the study of how health affects very large populations of people rather than handling patient cases on a one-on-one basis. Epidemiologists work to reduce problems associated with public health crises. They play an important role in educating people about the safest practices for good health. Epidemiologists are required to have at least a master’s degree in epidemiology or a related public health field with some having a doctorate. The highest-paid epidemiologists (top 10%) earned more than $108,320. Job growth is projected to be above average through 2020.

Chief Financial Officer

The CFO is the top finance-related position for a healthcare organization. The CFO is responsible for all areas of finance including budgets, forecasting, and planning for the facilities, for the medical professionals, and all functions of the hospital’s ability to meet current and future financial obligations. Many of the financial dealings in a hospital have to do with insurance policies, insurance payments, and government funded insurances, for the hospital as well as the patients. The median compensation of CFOs in healthcare organizations was $197,447.

Hospital Administrator

Hospital administrators are those professionals who coordinate activities across all aspects of the hospital operations. The mean average salary for a hospital administrator, according to the Bureau of Labor Statistics is $93,910 with a bachelors and the salary range is based on the size of the hospital. Most hospitals now require a minimum of a Master’s degree.

Health Informatics Manager

The health informatics manager is responsible for managing health information systems. The plan and develop health information systems to meet standards of accrediting and regulatory agencies. They also design health information systems for various sizes and types of health care facilities. Health informatics managers with a master’s degree earn a mean average salary of $93,231.

Medical and Health Service Manager

Medical and health services managers are those professionals who plan, direct, and coordinate medical and health services. They can manage an entire facility or specialize in managing a specific area or department. Medical and health services managers must have the ability to adapt to changes in healthcare laws, regulations, and technology. According to the BLS, the top 10 percent of Medical and health service managers earned more than $150,560.

There are many great choices for careers in Healthcare management – it is advisable to investigate the educational programs that best match your individual career interests.