Healthcare administrators direct, plan and coordinate medical services for physician groups and small and large healthcare facilities across the United States. Beyond having advanced business skills, healthcare administrators understand healthcare law and medical regulations and technology.
If you would enjoy working in a growing industry that positively impacts the lives of others, healthcare administration may be right for you. The University of Southern Indiana (USI) offers a 100% online Master of Business Administration (MBA) with a concentration in Healthcare Administration program. In addition, many careers available within healthcare administration offer competitive starting salaries and high growth potential.
Careers Within Healthcare Administration
Healthcare administration is a growing field with executive and management career paths. The U.S. Bureau of Labor Statistics (BLS) projects employment in healthcare administration — also referred to as medical and health services management — to grow by 28% between 2021 and 2031. At the managerial level, BLS reports these professionals made a median annual salary of $101,340 in 2021.
Moreover, the U.S. healthcare sector accounted for more than 17% of the country’s gross domestic product in September 2022, according to data from Altarum. Graduates of a healthcare administration MBA are fully prepared for a high-paying job in this booming industry sector. Here are a few possible career options, with average December 2022 salaries according to ZipRecruiter:
- Healthcare management consultant: Healthcare management consultants provide essential insights and advice for healthcare organizations. Healthcare consultants are often tasked with improving efficiency within a healthcare organization. These improvements often require an in-depth examination of healthcare facility management. Healthcare management consultants earn an average salary of $83,955.
- Health actuary: Health actuaries help healthcare and insurance organizations devise financial and strategic plans by analyzing healthcare data, risks, market trends and opportunities. These professionals must understand medical accounting, health economics, statistics and relevant regulations. The average annual salary for health actuaries is $98,347.
- Strategic partnership manager: Hospitals, physician groups and smaller medical clinics must maintain close relationships with various healthcare providers and vendors. Cultivating and maintaining those relationships on behalf of a hospital is the job of strategic partnership managers. These professionals must have an understanding of the healthcare industry as well as strong interpersonal skills. Strategic partnership managers earn an average of $86,551 per year.
- Health administrator: Health administrators oversee day-to-day operations and long-term planning for healthcare facilities. These professionals must be able to plan, organize, direct and monitor the services of a medical organization. On any given day, a health administrator may recruit doctors or nurses, oversee the expansion of services or implement regulatory policies. The average pay for health administrators is $84,623 per year.
- Hospital CEO: Hospital chief executive officers (CEOs) typically have extensive healthcare administration experience and an MBA or comparable advanced business degree. These upper-level executives oversee all departments within a hospital. A deep understanding of organizational structures, health economics, strategic business management and healthcare services is needed to thrive in this position. Hospital CEOs earn an average salary of $213,333 per year.
Launch Your Career in Healthcare Administration With an Online MBA From USI
Healthcare is a competitive and growing industry. As hospitals and medical organizations grow, they look for qualified business professionals to drive and manage that growth while coming up with solutions to challenges the industry faces.
If you seek a future career in healthcare administration, consider USI’s online MBA with a concentration in Healthcare Administration program. Students learn management and problem-solving skills from the perspective of a healthcare organization. The comprehensive coursework is taught by USI faculty and can be completed in as few as 11 months.
Learn more about USI’s online MBA with a concentration in Healthcare Administration program.
