According to the Bureau of Labor Statistics, the demand for healthcare management jobs is expected to grow to 18% by 2026. This growth is higher than the average for all other occupations and can be attributed to the aging baby-boomer population and the increasing complexity of the healthcare system.
Healthcare managers are responsible for the overall administration of healthcare facilities or departments. These managers plan, direct, and coordinate medical and health services. In the most senior positions, healthcare managers may also be responsible for financial planning and budgeting. Despite challenges and obstacles, a career in healthcare management can be rewarding and satisfying.
There are many reasons to consider a career in healthcare management, and here are just a few:
- The Job Outlook is Strong
As previously mentioned, the expected growth of healthcare management demand is 18% by 2026, which is higher than the average for all other occupations, and represents approximately 372,600 new jobs.
Two other reasons for this growth in demand include the increased focus on preventive care and the trend toward patients taking a more active role in their own health.
- Healthcare Managers are in High Demand
The job outlook for healthcare management is strong and in high demand.
A recent survey completed by the American College of Healthcare Executives found that nearly 60% of healthcare organizations plan to increase the number of full-time employees over the next 12 months. This demand is driven by several factors, including an aging population, the increasing complexity of the healthcare system, and the Affordable Care Act. Following this trend, now seems like an opportune time to consider a career in healthcare management.
There are many options to learn more about healthcare management, and many more opportunities for work therein. As an example, a healthcare management program is an easy option to learn more about healthcare management. This specific course covers areas such as healthcare policy, law, and ethics; finance; human resources, and information technology. In fact, many colleges and universities also offer online healthcare administration degrees, which may provide flexibility for working adults who are interested in this field.
- Healthcare Managers Make a Difference
Healthcare managers play a vital role in the delivery of quality healthcare. They are responsible for the overall administration of a healthcare facility or department and play a key role in ensuring that patients receive the best possible care. Healthcare managers also contribute towards their organization’s bottom line by ensuring that resources are used effectively and efficiently.
Not only does this help the organization save money, but it also frees up resources that can be used to improve patient care. According to a recent survey, nearly 90% of healthcare executives said that their greatest contribution to their organization is improving the quality of patient care.
- Healthcare Managers are Well Compensated
Healthcare managers are among the highest-paid professionals in the healthcare industry. According to the Bureau of Labor Statistics, the median annual salary for healthcare managers was $75,040 in 2022. And the top 10% of earners in this field made more than $176,130.
Many healthcare organizations offer competitive benefits packages, including health insurance, retirement plans, and paid time off. However, it is essential to note that salaries will vary depending on your experience, education, and geographic location. Moreover, as with any other profession, there will always be a range of salaries within this field.
- Healthcare Managers have Many Job Opportunities
Healthcare workers are able to work in hospitals, clinics, physician’s offices, nursing homes, and home health agencies to name a few.. Additionally, many healthcare managers work for insurance companies, pharmaceutical companies, and government agencies.
With this range of job opportunities, healthcare managers are better positioned to find a role that best suits their skill set and interests, whether that be through career change or advancement.
- Healthcare Managers May Have a Positive Impact on Society
Society benefits from the work of healthcare managers as they strive to give their patients the best care possible. They play an important role in controlling healthcare costs and improving the quality of patient care. With the rising cost of healthcare, the contributions of healthcare managers are more important than ever before.
- The Future of Healthcare Managers is Bright
The future is bright for healthcare managers. The aging population and the Affordable Care Act are two factors that are expected to increase the demand for healthcare services. And as the demand for healthcare services increases, so will the need for healthcare managers.
However, the skills required to be a successful healthcare manager will also change. In the future, healthcare managers will need to be more data-driven and technologically advanced. The future of healthcare management will also require more flexibility, high levels of adaptability and individuals who are able to effectively manage delivery outcomes.
- Technology integration will be crucial for healthcare managers
Technology is changing the healthcare landscape, and healthcare managers must adapt.
In the years to come, healthcare organizations will need to rely more on electronic health records and various other health information technologies. Healthcare managers will need to use these advanced tools to enable higher successful outcomes. Telemedicine, a form of over-the-phone healthcare management, is also expected to grow in popularity. It will require healthcare managers to ensure that they understand how to manage this service effectively.
The future of healthcare management lies in technological advancement. Healthcare managers must be data-driven, flexible, and most importantly, adaptable to change. In terms of healthcare job outlook, they remain high in demand, and hence they are well compensated, and will continue to make a positive difference to society. So, if you’re looking for a career that is both rewarding and makes a difference, healthcare management is a great option.