With the demand for healthcare professionals growing, it isn’t only doctors and nurses who are in demand. The administrative side of the healthcare field is also expected to grow in pace with the rest. Those with education, experience, and even a few special skills can find themselves at the top of the “To Hire” list. But which list do you want to be on?
To help you decide, we have gathered the five highest paid positions in health administration, with most ranging beyond the six-figure mark. And although there are many reasons to get a health administration degree, the below focus on the bottom line and are listed by highest to lowest.
- CEO Also known as the Chief Executive Officer, hospitals have them too. Paul Levy is a former CEO of a large Boston hospital and the blogger at Not Running a Hospital. In this entry, he took a look at his own pay, which included base salary, bonuses for meeting requirements, and BIDMC. His total pay for the year of 2005? About one million dollars. Check out his blog to read more on how and why this salary came about. He also has more on how to run a hospital, the healthcare industry, and related issues.
- Head of Nursing They can also be called Directors of Nursing. The educational requirements usually call for a master’s, although years of experience in both the nursing and administrative field can add up. Perhaps the salary isn’t as impressive as the above, but this health administration career pays a respectable average of $178,734 per year according to Monster.com and was named its highest paying nurse job. The Head of Nursing can also be called the Chief Nursing Officer or Chief Nursing Executive.
- Chief Healthcare Technology Officer The CTO is also an important part of the healthcare industry. Moves like diagnostic software, electronic medical records, and beyond can have any healthcare provider needing a healthcare administrator with a tech savvy education. The CTO is asked to take on many technological challenges and provide time and money saving solutions. According to Indeed.com, the national average salary for a Chief Technology Officer in the healthcare industry is $121,000.
- Hospital Administrator With everything from dealing with insurance companies to making sure the cafeteria operates within code, hospital administrators can take on a variety of tasks and responsibilities. They provide management to many groups to ensure they can operate successfully and work in union with the hospital. Financial oversight as well as expenses can often make up the core of a hospital administrator’s duties. Average pay for this healthcare administrative position was $93,000 per year, with a variance of $12,000 per year either way depending on the employer and other factors.
- Medical and Health Services Manager They plan, direct, coordinate, and supervise the delivery of healthcare to a variety of patients. These managers are either specialists in charge of a specific clinical department or generalists who manage an entire facility or system. As with many healthcare positions, need is expected to outgrow the number of qualified applicants, and in this case, by 16 percent. The average median salary for this job is $73,660.
And the above five highest paid positions in health administration are just some of the career paths available with a degree in health administration or those with an MBA who want to go into healthcare. Other career options are also available with average salary varying from position to position.