Health administrators work as leaders in the wellness industry in a variety of roles. Many have management or executive roles at hospitals, pharmaceutical firms, biotech companies, and other suppliers of healthcare products and services. Some choose to work in the public health sector, helping to shape government policy, manage education efforts, or direct nonprofit operations. Others go into the insurance industry, as analysts, quality improvement coordinators, or strategic planning directors. One of the advantages of a health administration career is its flexibility — there are so many options available in both the public and private sectors.
Is There Growth Potential in the Health Industry?
In a word, yes. According to the Occupation Outlook Handbook, “Employment of medical and health services managers is projected to grow 23 percent from 2012 to 2022, much faster than the average for all occupations. As the large baby-boom population ages and people remain active later in life, the healthcare industry as a whole will see an increase in the demand for medical services.” Between an aging population and a changing healthcare industry in the U.S., administrators will continue to be needed in the public and private sectors.
How Much Do Health Administrators Earn?
Earning power in this field is excellent. The Occupation Outlook Handbook lists the median annual wage across the field as $88,580. Like any career field, those with advanced degrees, talent, and drive will have higher-than-average earnings. Senior healthcare executives who are highly experienced and have made significant career achievements can command annual salaries of $200,000 and higher.
How Can I Train for This Career?
A bachelor’s degree with a health or business focus is the minimum needed to enter the health administration field, but an advanced degree will open doors and increase your earning potential much faster. It’s possible to earn your masters in health administration degree online, which makes going back to school accessible for working adults and parents.
A high-paying career in the healthcare industry doesn’t have to mean becoming a hands-on provider. Even if you’re not interested in becoming a physician or working as a nurse, you can find a career in the rapidly growing healthcare field. You can combine your interest in wellness and health with business administration and leadership skills to build a rewarding and lucrative career as a health administrator.
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