The future is bright for those who want a career in healthcare administration. Healthcare management jobs are growing in quantity as more hospitals face an increasing demand to provide care for a larger number of people.
Not only is this job in-demand, but you’ll also enjoy a very competitive salary to provide a good life for yourself and your family. Here are five reasons you should pursue a career in healthcare administration.
The job outlook for this sector is excellent
According to the US Bureau of Statistics (BLS), the employment of healthcare administrators is expected to grow 18 percent from 2018 to 2028.
As the vast baby-boom population ages, the demand for healthcare workers increases. The number of people aged 65 and older is expected to grow by 40 percent by 2022, the fastest of any age group. What does this mean? It means there’s a greater need for physicians, caregivers, PTs, and, therefore, a greater need for managers who’ll organize and manage medical information and healthcare staff.
Also, data management in the healthcare industry is becoming more digitized. The widespread use of electronic health records (EHRs) will push the demand for managers with expertise in health information technology (IT) and informatics systems.
Salaries are high
If you’re looking for a career that pays high, consider working in healthcare administration.
According to the Payscale, the median annual salary of a health service manager $100,000. This amount is way more than what other healthcare workers earn. Personal health aides earn a median annual salary of $24,000; per year, $51,000 per year for medical technicians, $71,000 per year for nurses, and $88,000 per year for physical therapists.
Of course, the income will vary based on the size of the organization and healthcare administration experience.
In the healthcare industry, salary isn’t the only perk. You can enjoy health, eye and dental insurance benefits. There are also stock options and retirement packages available. Likewise, there are also vacation leaves, on top of sick days and annual leaves.
Flexibility in your career choices
Although most people think that the medical profession consists only of clinical career options, there are many behind-the-scenes roles available. A degree in healthcare administration opens your door to many entry-level positions, such as:
Medical office manager
A medical office manager is in charge of overseeing operations in a doctor’s office. They ensure that everyday activities run smoothly, and the clinic gives top patient service. They also supervise the staff — including the medical biller, the receptionist, and the nurses.
Nursing home administrative assistant
There’s a higher demand for administrative assistants in nursing homes as more and more of the baby boomer generation move to nursing homes. Administrative assistants help plan and direct the facility’s programs and act as liaisons between patients, staff, doctors, and family members.
Medical reimbursement specialist
A medical reimbursement specialist works with other health administrators to help patients schedule their medical bill payments. They also help determine the best mode of payment for patients, manage financial and medical records, transcribe reports, and schedule appointments.
Healthcare human resource (HR) manager
A healthcare HR manager picks specific candidates to fill all positions and advises executives about employees’ pay and benefits. An HR manager in this field must extend their duties to include researching rules and regulations regarding employees.
Career advancement potential
While starting your career could mean working in hospitals, clinics, nursing homes, or doctor’s offices, with enough experience, you may see yourself working at a federal level, executing reforms, or changing health care laws, rules and regulations.
On the other hand, a master’s degree in health administration will make you a more well-rounded professional. You’ll gain more knowledge on accounting, market research, management skills, and leadership. It can open more positions, including research positions and higher-level job options. If your dream is to run an entire hospital, a master’s degree will drive you closer to that dream.
Doing it for the social good
A career in healthcare administration can be very rewarding, too. Perhaps the biggest reason to pursue a health career is to make a difference in the lives of others.
If you’re the person who likes giving back to the community, what better way to do it by ensuring your community receives high-quality healthcare services?
Today, big healthcare institutions like hospitals, nursing homes, and hospices require competent and compassionate healthcare administrators to ensure more patients are serviced, and the standard of care is always met. Decisions made by healthcare administrators can help improve life for hundreds, even thousands of people every day.
A career in healthcare administration provides the opportunity to make significant contributions to the overall quality of health in the community and beyond.
Consider a career in health administration if you possess good decision-making, communication, leadership, and motivational skills.
This career will not only pay you well, but you’ll also have the opportunity to make a difference in the lives of many.