In a healthcare environment where mergers and consolidations have become almost common as the big regional and national systems acquire smaller local hospitals and providers…where record-breaking healthcare spending is always trending…and where cost-control and efficiency is the name of the game, healthcare administrators are the stars of the show.
Usually armed with an MHA or MBA in Healthcare Administration, healthcare administrators lend their expertise in both healthcare and business to specific healthcare programs, clinical departments or units, or entire facilities or hospital systems, and their oversight encompasses everything from finances to personnel to government regulations and more.
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According to the Bureau of Labor Statistics (BLS), healthcare administrators, which fall under the general BLS category of medical and health services managers, earned an average annual salary of $100,980, as of May 2019. The top 10% in the field earned more than the $189,000 that the BLS sets at the ceiling for salary reporting.
Here we highlight six of the specific job titles and practice settings that fall under the BLS medical and health services manager classification. We think these among the coolest jobs in the business, and we think you’ll agree.
#1 Administrator of a Hospital
Hospital administrators, among the most high-profile professionals in healthcare leadership, oversee a wide range of tasks within a hospital system. These high-level pros oversee quality of services, staffing and personnel issues, financial objectives, and government compliance.
#2 Administrator of a Physician Group
Administrators of a physician group ensure smooth and profitable business operations, promoting efficiency and cost-effectiveness at every level within the practice. Administrators in these settings oversee all aspects of the business, including personnel, purchasing, budgeting, accounting and regulations, freeing up physicians to focus solely on patient care.
#3 Administrator of a Hospice or Elderly Care Long-Term Care Facility
Administrators of long-term care facilities, skilled nursing facilities, and hospices are part of a growing number of healthcare administrators who are meeting the needs of a swiftly aging population. Often the face of these establishments, administrators of elder care facilities oversee the patient population, manage the efficient and cost-effective operations of the facility, and ensure an optimum range of services that address the physical and mental health needs of the patients.
#4 Administrator of an Insurance Company or HMO
Insurance company/HMO administrators work to develop new benefit plans and examine/update existing benefit plans.
#5 Administrator of a Medical Equipment Manufacturer
Healthcare administrators of medical equipment manufacturers are tasked with reducing costs, driving growth and profitability, and providing better clinical outcomes for the company’s products and devices. These high-level administrators are valued for their ability to lead companies through change.
#6 Administrator of a Public Health Facility
Administrators of public health facilities help shape healthcare policy, working in the non-profit sector with organizations like the Red Cross or the American Hospital Association or in positions with local, state, or federal agencies (such as the Food and Drug Administration and Centers for Medicare & Medicaid Services).
Salary and employment data compiled by the United States Department of Labor’s Bureau of Labor Statistics in May of 2019. Figures represent accumulated data for all employment sectors in which medical and health services managers work. BLS salary data represents average and median earnings for the occupations listed and includes workers at all levels of education and experience. This data does not represent starting salaries.
All salary and employment data accessed June 2020.