Healthcare Administration – With a master’s degree in healthcare administration, you can expect rewarding career opportunities within diverse settings. There are a plethora of roles in hospitals, physician’s offices, medical laboratories and pharmaceutical corporations. In fact, from 2014 to 2024 the U.S Bureau of Labor Statistics projects an increase of 17 percent in the number of healthcare administration and management jobs. Not to mention, graduates who choose a concentration within this major gain specialist knowledge that will enable them to go down a variety of career paths. Here are 4 rewarding professions many healthcare administration students choose after they graduate.
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Hospital Administrator
Working in a hospital is an obvious choice for many people with healthcare-related degrees, and this is no exception for MHA graduates. Students can expect to gain knowledge about healthcare systems, business strategies, and how to plan, coordinate and direct business activities for various providers and organizations. Major hospitals have a workforce consisting of thousands of people who provide a large range of services. In addition to overseeing the administration of a huge number of employees, hospital administrators also need to help a hospital with healthcare delivery efficiency, meet its financial goals and address government compliance. In addition, hospital administrators are in charge of community outreach and PR, and their duties also involve patient care planning and long-term strategy. With a qualification from a reputable institution, such as a Boston College Online MHA degree, graduates can pursue this rewarding career.
Hospital CFO
With an average annual salary of $154,399, a CFO of a hospital is one of the highest-paid jobs an MHA graduate can become. A hospital CFO, or chief financial officer, is in charge of a hospital’s finances. They manage risks and make decisions that ensure a hospital’s business operations are cost-effective. To apply for this role, candidates usually need a master’s degree and experience in a leadership and management setting.
Director of Managed Care
According to Payscale, a director of managed care can expect to earn an average salary of $120,230 per year. This job role is ideal for healthcare professionals who prefer to work in an office environment with a matching work schedule. They coordinate the communications and activities among healthcare administration and managed care staff. Their responsibilities also include updating contracts, department coordination, and liaising with governmental agencies and medical facilities. A director of managed care can work in a number of healthcare facilities, such as hospitals, rehab centers, senior living centers, and nursing homes.
Home Healthcare Organization Administrator
There is a growing number of senior citizens in the United States due to the increase in life expectancy. Therefore, there is also a growing demand for home care. Home healthcare organization administrators play a significant role within this industry. Their responsibilities include overlooking medical services, staff, and budgeting. Statistics show that 15 percent of the total U.S population are people over the age of 65. Furthermore, there is a projected increase over the coming years, with the federal government anticipating that 1 in 4 U.S citizens will be 65 or older by 2060.