Average Healthcare Administrator Salary
Since all hospitals and clinics need to be administered by professionals who can use their skills and knowledge to keep everything and everyone under control, the medical industry would face a lot of challenges if healthcare administrators did not exist. Healthcare administrators, who can be found in various healthcare facilities, help lead the healthcare personnel, ensuring that the department runs smoothly and in compliance with the applicable laws, regulations, and policies.
To decide whether this is a career choice you should consider, you must first understand the role and responsibilities of a healthcare administrator, as well as the necessary qualifications related to the profession, the career outlook, and the healthcare administrator salary. So, read on and consider whether working in administration might be your calling.
What is a Healthcare Administrator?
Healthcare administrators are medical professionals who work in healthcare institutions or facilities and are directly involved with policies and budgets. Their responsibilities are different from the responsibilities of doctors or physicians and other medical practitioners.
Healthcare administrators administer and supervise the facilities of healthcare institutions and have an academic background in healthcare administration (either a bachelor’s degree or a master’s degree in healthcare administration). Their main responsibilities are to help other experts make crucial decisions regarding the healthcare institution. They work in improving the patient’s experience and everyone’s safety within the healthcare institution.
Moreover, healthcare administrators plan, lead, and coordinate medical and healthcare services, and depending on the personal experience of the healthcare administrator, they might be vested with the responsibility to manage an entire facility, a specific clinical department, or a group of physicians.
What does a healthcare administrator do?
The job responsibilities of a healthcare administrator may differ depending on the institution where they work, whether it is a nursing home, a physical therapy facility, a clinical laboratory, or a different type of institution. Some of the most common job responsibilities include operating the work schedules for staff members or assisting in improving the effectiveness, efficiency, and quality of care within the facilities of the healthcare institution.
On a needs basis, they might be responsible for training new staff members. They are also responsible for communicating with the doctors and nurses, ensuring that everyone is complying with the laws and regulations in place for that healthcare institution. In addition, they are also responsible for managing and monitoring the facility's finances, including their budgets and expenditures, the patients' fees and billing. On top of that, they must sit in regular meetings with investors and governing boards.
Healthcare administrators vs. hospital administrators
Often, healthcare administrators are confused with hospital administrators. Still, there is a difference since the healthcare administrators are primarily focused on using critical analytics during decision-making, whereas hospital administrators are mostly concerned with the interpersonal expertise needed to administer a hospital. Furthermore, as the name suggests, hospital administrators typically work in hospitals, whereas healthcare administrators can be found working in various facilities. Nevertheless, focusing on the title of this article, we can tell you that both their salaries are satisfactory.
How to Become a Healthcare Administrator?
In order to begin the journey into healthcare administration, you must go through some steps to ensure you are well informed and prepared to tackle the many responsibilities we mentioned before. Careers in healthcare administration require a high level of education, skills, abilities, and other elements, which we will explain below.
Get a degree
To prepare for the profession of a healthcare administrator, you will first need to obtain at least a Bachelor of Health Science or a related field. Such a degree will qualify you for entry-level positions in smaller facilities such as clinics. In contrast, if you desire to climb up the ladder of this career, it is essential to pursue a master's degree, whether it be a Master of Healthcare Administration (MHA), Master of Public Health (MPH), or Master of Business Administration (MBA).
Suppose you are pursuing an MHA program and want to further deepen your field knowledge, in that case, typically, there are also specializations within those programs, such as health information technology, financial administration, operations management, and policy and systems analysis, as well as quality care and patient advocacy.
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It is important to note that in addition to the fact that you have a master's degree, many employers also pay attention to the quality of the program you have completed. So, to improve your chances of landing a job before your competitors, you should be selective with the schools and programs you choose to enroll at both bachelor's and master's degree levels.
Get the required qualifications
In addition to the educational qualifications of earning a bachelor’s degree and a master's degree, another essential element is the relevant work experience. Having done administration work in a healthcare facility previously would be considered a great asset in your resume, even if it is simply an entry-level position, such as working as an assistant healthcare administrator.
Another way you can gain experience is through internships, fellowships, and voluntary work. Basically, any path that can help you broaden your knowledge, develop your skills, and gain experience is vital in preparing you for the position and landing jobs.
Obtain the necessary skills
To successfully, effectively, and efficiently administer the healthcare facility, as a healthcare administrator, you must possess various skills that will help you deal with the position's responsibilities. Some of the essential skills include:
Accounting and finance skills
Statistical skills
Analytical skills
Computer skills
Planning skills
Communication skills
Leadership skills
Policy-making skills
Multitasking
In addition, you should have a thorough understanding of the healthcare environment to ensure that the healthcare administrator can put all the previously mentioned skills to use correctly within the facility. It is also vital that the people pursuing this profession are committed to their work and are willing to be lifetime learners so that they can continuously improve their work performance with experience.
Job Opportunities for Healthcare Administrators
According to experts at the U.S. Bureau of Labor Statistics (BLS), the demand for healthcare administrators is currently growing. As one of the fastest-growing occupations in the nation, we are expected to see a 16% growth in the employment of healthcare professionals, adding around 2.5 million new jobs. Furthermore, reports from BLS show that a growth of 32% from 2020 to 2030 is projected in the medical and health services managers field with around 51,800 job openings each year.
This increase in the employment of healthcare professionals comes due to the aging population, which leads to a greater demand for healthcare services.
While pursuing a career as a healthcare administrator and earning a degree for it, you can also qualify for various other jobs, such as a healthcare office manager, insurance compliance manager, and healthcare information manager. You will have the opportunity to work at nursing homes, outpatient care facilities, and community healthcare agencies.
Average Salary for Healthcare Administrators
Lastly, the part you probably clicked for: What is the average salary for healthcare administrators? Well, according to BLS, their average salary in the United States is $104,280.
However, you should keep in mind that the salary can vary, depending on the facility you work at and the years of experience you have. BLS reports show that the highest 10% of healthcare administrators earn around $195,630 per year, whereas the lowest 10% earn about $59,980 a year. With a few years of experience working in the right place, you can easily belong to the highest 10%.
Final Thoughts
Being a doctor or nurse is not the only way to help people within a hospital or clinic. If you can relate to healthcare administration and you find that you are committed to the work needed to fulfill the responsibilities and are satisfied with the career outlook and salary, then consider pursuing a bachelor's degree in health management administration.
Take the first steps towards becoming a healthcare administrator and ensure that healthcare systems are effective and patients receive the best care.