Healthcare Administration: The Profession
Healthcare administration is an exciting and rewarding career. With the increasing demand for healthcare services, the need for executives to oversee the provision of these services is increasing as well, making it a highly in-demand position. Healthcare managers work in a variety of settings, such as hospitals, health systems, clinics, physician practices, provider networks, specialty care organizations and numerous others. Healthcare administrators oversee, manage, and coordinate the activities, operations, and services provided in healthcare organizations. To be well-qualified, these professionals must be proficient in multiple aspects of healthcare management, including operations and strategic management, financial management, human resources management, decision making and analytics, coordination of care, legal and regulatory aspects of care, and the general oversight and leadership of multidisciplinary professionals.
It is a fulfilling career with excellent job prospects. According to the U.S. Bureau of Labor Statistics (BLS), the job outlook for medical and health services managers, healthcare executives, and healthcare administrators is higher than the average for all occupations, with an expected growth rate of 17% from 2014 to 2024. The best prospects will be those with a master’s degree in health administration. Additionally, the pay for these positions remains strong, with reported median pay of $94,500 in 2015 and the highest 10% earning more than $165,380.