4 Reasons to Study Healthcare Management

by South University 6 March 2014

Healthcare management is an attractive industry for people who desire to make a positive difference in the world and who wish to find secure employment in today's economy. If you're on the fence about pursuing this career, consider some of these reasons to see why a career in healthcare management could be the right choice for you.

1. Numerous Ways You Can Make a Difference

Healthcare Manager

If you care about people and want to help them live better lives, healthcare management is for you. There are an infinite number of ways you can positively influence people's lives as a member of a healthcare management team.

Social workers, psychologists and doctors all work directly with individuals in mental or physical pain, helping them to heal and implement positive changes in their lives. However, healthcare executives and hospital administrators can make a difference by making decisions that empower their employees and their organization to assist even more people.

2. Vast Job Opportunities

Healthcare executives and other members of health care management teams have a wide variety of potential jobs. In addition to working in hospitals, nursing homes and other healthcare facilities, these people may work in pharmaceutical companies, health insurance companies, consulting firms and other related organizations. The demand for these positions also appears to be growing. According to the Bureau of Labor Statistics (BLS), “Employment of medical and health services managers is projected to grow 23% from 2012 to 2022, much faster than the average (14%) for all occupations.” [1] Finally, healthcare executives don’t have to stay with the first position they take, as much room for career advancement exists in this industry.

3. Prestige

Healthcare executives play an important role in our communities. People know that healthcare professionals help change lives—and in many cases even save lives—so they respect those individuals for what they do and are honored to have them as members of their communities.

4. Earnings Potential

Healthcare executives and others in healthcare management can potentially bring home large annual salaries. In 2012, the BLS reported the median annual wage for medical and health services managers as $88,580. However, salaries vary depending on the employee’s education level, prior experience, responsibilities and the size of their organization. Some professionals in healthcare management or administration careers earn upwards of $150,000 per year. [1]

References: [1] http://www.bls.gov/ooh/Management/Medical-and-health-services-managers.htm

Career Spotlight: Healthcare Administrator

by South University 9 June 2011

What is a healthcare administrator? 
A healthcare administrator is a manager who has a healthcare administration degree and oversees all aspects of patient care, while also balancing the demands of compliance with various policies, laws, and regulations. A healthcare administrator works closely with a facility’s governing board and medical staff to address a variety of concerns and activities, including developing and instituting policies and procedures, managing budgets, and obtaining grants for medical research.

There are two types of healthcare administrators, the generalist and the specialist. A generalist is responsible for managing an entire facility, while a specialist attends to day-to-day operations, such as budgeting, human resources, and marketing. Specific duties may vary with types of facilities, such as hospitals, medical group practices, and outpatient clinics to health maintenance organizations.

What is the job outlook for healthcare administrators?
According to the Bureau of Labor Statistics, “Managers in all settings will be needed to improve quality and efficiency of healthcare, while controlling costs, as insurance companies and Medicare demand higher levels of accountability. Managers also will be needed to oversee the computerization of patient records and to ensure their security as required by law. Additional demand for managers will stem from the need to recruit workers and increase employee retention, to comply with changing regulations, to implement new technology, and to help improve the health of their communities by emphasizing preventive care.”

Is an online healthcare administration degree right for me? 
If you enjoy working in the healthcare industry and can handle the demands of managerial responsibilities, an online healthcare administration degree from South University might be the right choice for you.