5 management careers you should consider if you work in healthcare•
Healthcare is one of the fastest growing industries in the U.S. right now. With an aging population, the demand for healthcare professionals is at an all-time high right now. In fact, the healthcare industry is adding so many new jobs that it is projected to account for a third of all new employment in the U.S. by 2026!
If you hadn’t considered taking on a role in healthcare management before, there are plenty of great reasons why now would be a good time to think about it. Right now, the number of healthcare occupations is continuing to grow, which means that the need for positions in healthcare management is growing faster than the healthcare sector as a whole and other similar management positions. In fact, employment of medical and health services managers is projected to grow 20% from 2016 to 2026, which means there will be an estimated 424,300 new positions.
It’s no wonder, then, that this growing industry is creating a growing need for qualified and experienced managers to help improve the quality and efficiency of healthcare. Here are 5 of the top management positions that you should consider:
A healthcare actuary, like other actuarial roles, involves providing actuarial analysis to help decision makers in the healthcare marketplace. Their job is to reduce the risk associated with making a decision and therefore, the health actuary helps to bring about change in the way that healthcare is delivered and financed. Generally speaking healthcare actuaries work for insurance companies or self-insured medical groups. Actuaries need a minimum of a bachelor’s degree, but often hold a master’s degree and must pass a series of exams to become certified professionals. They must have a strong background in mathematics, statistics, and business. The average salary for a Healthcare Actuary is $114,000.
You could apply to work as a Health Actuary with Blue Cross Blue Shield.
Hospital Administrators ensure that hospitals and other healthcare facilities run efficiently. They are responsible for recruiting talented doctors and surgeons, creating hospital budgets, promoting new treatments amongst other things. They’re also responsible for ensuring that their facility complies with all laws and governmental regulation. The median salary for this career path is around $95,000.
Director of Nursing or Chief Nursing Director
Nursing Directors are responsible for managing an entire nursing departments and are generally the highest-paid nursing roles. Their responsibilities often include supervision and review of nursing staff, overseeing department budgets, reporting to high-level staff members, maintaining high standards of care, managing patients’ data and medical records and interaction with doctors, patients and family. Directors of Nursing usually report to the CEO and have a master of science in nursing or a master of health administration. The average salary for a director of nursing, according to the Bureau of Labor Statistics, is $173,000 and the projected growth from 2012 to 2020 is at least 23 percent.
Pharmaceutical Project Manager
Another great choice when it comes to management careers in healthcare is the role of pharmaceutical project manager. Pharmaceutical project managers analyze investment opportunities and develop plans for promoting specific pharmaceutical products. The average annual salary for this health care role is about $80,000.
A hospital’s chief executive officer (CEO) is the head of the organization, just like a CEO in any other industry. CEOs direct and plan all operations, create budgets, negotiate contracts, approve new hires, analyze sales reports and find ways to save money. According to the Bureau of Labor Statistics the salary for CEOs in a hospital setting is $386,000. Equally, if math and accounting are your areas of expertise then you could become a chief financial officer (CFO) within a hospital organization. As a CFO you’re expected to manage the hospital’s finances, mitigate risk, create budgets and manage spending. You can expect to earn $315,000 as a CFO!
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