Healthcare Management

Career in Healthcare Management

Every one of us is quite familiar with the very famous saying Health is Wealth and in the present scenario, majority of the people are concerned about Health rather than money, status etc.

As people are more ambitious to be healthy, it positively impacts the healthcare industry. From the past two decades, healthcare industry is growing more rapidly than any other industry. According to U.S. Bureau of Labor Statistics (BLS) projection, the healthcare industry is expected to add 4 million jobs from 2012 to 2022, and it is also projected that the healthcare industry will top the quickly growing industries in coming future.

As the industry is growing rapidly, it requires manpower to manage various activities to deliver quality healthcare. According to BLS, in 2013 there were more than 15 million jobs in the Healthcare industry and employment in this sector is growing continuously for years.

Total nonfarm employment and healthcare and related employment, January 2004–14 (in thousands)

Career in Healthcare Management
Career in Healthcare Management

Source: U.S. Bureau of Labor Statistics, Current Employment Statistics

While in 2007-2009, recessions many people lost their jobs in other industries but healthcare employment carried on to go up. In simple terms, we can say healthcare employment is recession free, as in recession times people think many times to buy goods but never step  back to spend on their health.

Job security is one of the best things in a healthcare career, because jobs in healthcare usually need personal interaction and it is very complicated to outsource healthcare activities or substitute with automation, as it happens in some other sectors.

Now Let us understand Various Career Opportunities in Healthcare Industry:

If you want to opt for a career in this growing sector, your initial job might be an entry to mid level position in different functional departments of healthcare like,

  • Medical Staff Relations
  • Patient Management
  • Human Resource
  • Finance
  • Marketing
  • Public Relation
  • Supply Chain Management
  • Government relations

With the experience, expertise and additional educational credentials one can reach up to CEO position.

What Education Credentials Makes you Eligible for Healthcare Job?

For entry and mid level jobs science related degree and Diploma or Certification in Healthcare Management is sufficient to get interview call from recruiter and if you want to move further and get into high level jobs you can consider a Masters Degree in Health Management.

Salaries in Healthcare Jobs:

As discussed earlier, there is job stability and good salary packages offered for people who are seeking a career in the healthcare industry.

According to Sullivan, Cotter and Associates, Inc.’s 2014 data (which collected data from more than 1500 health care firms throughout the United States on over 240 system level jobs over 190 hospital level jobs) below mentioned are salaries paid to healthcare professionals.

(All numbers in thousands of dollars.)

Net Revenue Greater Than $1.0 Billion Net Revenue Less Than $1.0 Billion
Base Total Cash Base Total Cash
President and CEO $950 $1,791 $639 $716
COO $595 $708 $400 $416
CMO $496 $553 $361 $385
CFO $500 $580 $362 $400
CIO $369 $405 $275 $288
Top Patient Care Executive $309 $362 $241 $272
Chief Nursing Officer $300 $335 $231 $263
Top Human Resources Executive $338 $380 $245 $262
Top Professional Services Executive $279 $327 $219 $239
Top Support Services Executive $285 $288 $194 $211
Top Ambulatory Services Executive $258 $296 $234 $271
Top Facilities Executive $236 $262 $209 $234
Top Legal Services Executive (General Counsel) $407 $450 $295 $326
Top Marketing Executive $237 $260 $181 $206
Top Managed Care Executive $290 $316 $224 $253

So if you are looking for fascinating, potential and lucrative career options, the healthcare industry should be your first preference.

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