April 29, 2017

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Why is Healthcare Management Growing So Fast?

According to the Bureau of Labor Statistics the growth in healthcare employment is expected to continue its steady growth to reach almost 26 percent by 2022. There are a number of factors contributing to this tremendous growth.

Population Growth Increasing Healthcare Management Jobs

In the current decade, the population in the United Stated is projected to increase by about 10.8 percent. This increasing population will create the need for more healthcare services and service providers. This growth will lead to projected job growth for healthcare managers and other areas of the healthcare employment industry.

Baby Boomers and an Aging Population Increasing Healthcare Management Jobs

A steadily aging population including the huge number of “Baby Boomers” who are reaching their senior years is significantly impacting the number of healthcare jobs. The number of people aged 65 and older is projected to grow by about 40 percent between 2012 and 2022—the fastest of any age group. This aging population (compared with the needs of younger people) will generally have greater healthcare needs. The effects of this aging population are additional jobs in the healthcare industry and many new positions for healthcare providers and healthcare managers.

Chronic Conditions Increasing Healthcare Management Jobs

With this increase in average age among the general population there will be more people than ever before seeking treatment for chronic conditions including health issues like diabetes and obesity. Additional healthcare employees will be needed in order to prevent, manage, and treat these health related concerns associated with these chronic conditions. This demand will greatly affect most areas of employment in healthcare including the need for more employees in healthcare management sector.

Medical Advances Increasing Healthcare Management Jobs

Another influence on the growth of the healthcare industry is medical advances and improvements in medicine and technology that are affecting the demand for healthcare services. This leads to more jobs for the workers who are needed to provide these services. Those with a healthcare management master’s degree will have many opportunities to fill these positions.

Healthcare Reform Increasing Healthcare Management Jobs

Federal healthcare insurance reform in the United States (also called the Patient Protection and Affordable Care Act or Obama Care) is causing drastic changes in healthcare employment. New policies and demand for Americans to have adequate healthcare coverage will increase the number of people who will seek routine medical care. These changes in the numbers of who will now be insured will likely cause a significant increase in the healthcare job segment.

The health care industry is expected to add the largest number of jobs of all industries, between 2012 and 2022. This will equate to almost 5 million new jobs. According to the Bureau of Labor Statistics (BLS), it will also become one the largest industries by the number of jobs by 2022. The BLS also projects that wages and salaries for those in healthcare jobs will rise approximately 27 percent through 2022. For those interested in careers in healthcare and healthcare management, jobs will continue to be plentiful. It is important to pinpoint the specific areas of interest within healthcare management to target the correct areas of education that will allow future careers to meet the growing needs within the field. Healthcare managers and administrators are the backbone of the healthcare system; they are responsible for the daily duties including overseeing the huge growth in medical personnel. With all the current healthcare industry changes, healthcare managers and administrators will need to be able to adapt to these changes.