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, medical regulations and medical technology.
If you would enjoy working in a growing industry that has a positive impact on the lives of others, healthcare administration may be right for you. The University of Southern Indiana offers a 100% online Master of Business Administration with a concentration in Healthcare Administration. Many of the 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. Careers in healthcare administration are projected to grow by 20% between 2016 and 2026, according to the Bureau of Labor Statistics. The U.S. healthcare sector accounts for more than 17% of the country’s gross domestic product, according to U.S. News & World Report. Graduates of a healthcare administration MBA are fully prepared for these high-paying careers.
Healthcare Consultant: Healthcare consultants provide important 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 how a healthcare facility is managed. Healthcare consultants earn an average salary of $76,957, according to PayScale (September 2019).
Health Insurance Specialist: Health insurance specialists ensure that medical procedures and medical clinic visits are accurately reported to insurance agencies. These professionals must have a deep understanding of medical terminology and healthcare codes. Health insurance specialists play an important role in funding medical services. The average annual salary for this career is $88,729, according to GlassDoor (September 2019).
Strategic Partnership Manager: Hospitals, physician groups and smaller medical clinics must maintain close relationships with a wide range of 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. These individuals earn an average of $76,628 per year, according to PayScale (September 2019).
Hospital Administrator: Hospital administrators oversee day-to-day operations and the long-term planning for healthcare facilities. These professionals must have the ability to plan, organize, direct and monitor services by a medical organization. On any given day, a hospital administrator may be tasked with recruiting doctors or nurses, overseeing the expansion of services, or implementing regulatory policies. The average pay for this field is $87,611 per year, according to PayScale (September 2019).
Hospital CEO: Hospital 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 business and patient care is needed to thrive in this position. These executives earn an average of $153,105 per year, according to PayScale (November 2019).
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 will be looking for qualified business professionals to drive and manage that growth. 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 the USI online MBA with a concentration in Healthcare Administration program.