Now is the best time to enter the field of health administration. Why? Well, according to the Bureau of Labor Statistics (BLS), healthcare administration jobs are likely to increase by 32% by 2030 in the U.S., much higher than the average 8% increase across other professions.
The annual median salary, which stood at $104,280 as of 2020 according to BLS, is also projected to rise with the increasing demand, which makes healthcare administration an inviting career choice for anybody interested in a leadership role.
But why is the demand for healthcare administrators growing across the country? In today’s article, we cover some of the factors driving the growth in demand for healthcare administrators. Read on to learn more.
An Aging Population
In the next decade, the majority of the baby boomer generation will be in their sixties. Additionally, people are living longer across the globe. As the senior population grows, we are likely to see an increase in the demand for more healthcare services.
The increase in the demand for more healthcare services means that there will be an increase in the demand for healthcare workers, including healthcare administrators to develop policies and manage the growing workforce.
Lower Fertility Rates
Americans are having fewer babies compared to previous decades. For the first time in U.S. history, older adults are predicted to outnumber children by 2060 [see the chart by US Census], contributing to a higher older population.
That means there will be a higher demand for nursing homes and home-care services. There will be a higher demand for certified healthcare workers to take care of this aging population. Healthcare administrators will be in high demand as a result.
New Technology
There is an influx of new medical technology now more than ever. New healthcare technology is emerging and as more hospitals and medical facilities adopt it, the need for qualified healthcare administrators and tech specialists will increase.
If you’re looking to create a rewarding career as a healthcare administrator, it’s time to brush up on your IT skills. Employers are actively looking for healthcare administrators who can leverage the power of technology (and especially IoT) to deliver healthcare services effectively, and more importantly, securely.
Are There Enough Healthcare Administrators to Meet the Growing Need?
The World Health Organization (WHO) estimates that there will be a shortage of 15 million health workers globally by 2030. This means healthcare is going to require many qualified professionals in the future, including healthcare administrators.
To meet this need, you will need the proper education, expertise, and experience that you can gain from a master’s degree in healthcare administration. You can also gain the relevant skills from an MBA coupled with a healthcare specialization.
How to Become a Healthcare Administrator
Becoming a healthcare administrator is pretty straightforward. While you might don an apron or scrubs once in a while, you don’t necessarily need a degree in medicine. You might not even work directly with patients as would a typical doctor.
You mainly work as a manager, ensuring the institution runs as effectively as possible. On a typical day, you will work in the office doing all manner of tasks ranging from accounting to planning and hiring staff and so on. So, how do you become a healthcare administrator?
Educational Qualifications
All healthcare administrators hold at least a bachelor’s degree in health administration. The best in the industry usually possess a master’s degree in healthcare administration, which can lead to more senior and leadership roles down the line.
If you have the resources, it pays to earn a master of health administration (MHA). The best part is most universities offer these programs entirely online, which is quite convenient for working professionals who want to pursue higher education but can’t take time off for school.
Types of Jobs in Healthcare Administration
If you’re angling for a job in healthcare administration, you’re wondering what’s available. You will be glad to learn that there are a couple of exciting healthcare administration roles to fill. You can become:
- Nursing Home Administrator – Nursing home careers represent a wide range of job roles. For instance, you can become a director, assistant director, human resource manager or medical certification supervisor. You can oversee entire operations or focus on a specific area such as communications, family relations, marketing, regulatory issues, staff improvement, etc.
- Health Information Technology Professional – Healthcare administrators in this role oversee IT staff. You ensure the institution adheres to data privacy and security regulations and keeps up with advancements in medical technology.
- Practice Manager – In this role, you oversee non-medical aspects of running a medical practice. This includes tasks such as regulatory compliance, insurance, hiring staff, and patient relations, among others. You need excellent interpersonal and organizational skills to thrive as a practice manager.
- Health Insurance Manager – Health insurance is a complex field. It’s precisely why healthcare institutions pay a premium to hire and keep qualified health insurance managers. In this role, you help organizations and their patients navigate the confusing area of health insurance.
- Training and Development Director – In healthcare, there is always a need for staff training and development. Top healthcare organizations spend a lot of money to train staff, which means there is always a demand for training and development directors.
The above are just a few examples of jobs available in healthcare administration. There are more career paths you can choose, so shop around before settling for a particular role.
You can work in many different institutions although most healthcare administrators find employment in private or public hospitals. Other places include manufacturing companies, insurance, nursing homes, and consulting firms.
