The Pros and Cons of a Healthcare Manager Career
Healthcare managers coordinate and oversee medical services in a range of healthcare settings. To learn a bit more about the pros and cons of a career in healthcare management, just keep reading.
| Pros of a Healthcare Manager Career |
|---|
| Higher-than-average pay ($92,810 median annual salary in 2014)* |
| Healthy job outlook (23% growth from 2012-2022)* |
| Chance to use management skills to help people* |
| Good payoff for education requirements* |
| Cons of a Healthcare Manager Career |
|---|
| Stressful, fast-paced work** |
| Long hours may include nights, weekends or overnight shifts* |
| Graduate education may be required (31% of professionals have master's degrees)** |
| On-call duty may be necessary* |
| Setting work schedules may create conflicts** |
Sources: *U.S. Bureau of Labor Statistics, **onetonline.org
Basic Career Information
Common Job Duties
Healthcare managers are involved in almost every aspect of the day-to-day operations of a medical facility. They manage a wide range of financial services, including planning budgets, authorizing expenditures and overseeing financial reporting. Responsibilities may also entail hiring, directing and supervising the work of medical and technical staff members. Training of personnel is also a key responsibility of healthcare managers.
Working as a healthcare manager will also require you to constantly evaluate the efficiency of facility activities. You'll need to make sure that your facility uses the most current and effective diagnostic tools and services. Supervising records management is another common duty shared by healthcare managers, and the increasing use of computerized medical records promises to make this an even more important part of the job in the future.
Salary and Career Outlook
The U.S. Bureau of Labor Statistics (BLS) projects faster-than-average job growth for medical and health services managers in the coming years, with overall employment expected to increase by 23% from 2012-2022. This is due in part to the aging of the large baby-boom population and a concurrent increase in the need for medical services. As of May 2014, the BLS reported a median annual wage of $92,810 for medical and health services managers. Salaries may vary according to the size of facility and level of responsibility. For example, facilities with greater numbers of physicians will often award higher salaries to healthcare managers.
Education and Skills Requirements
When entering the healthcare management field, a bachelor's degree is usually required. Senior-level management positions often require a master's degree, and certain positions may also require experience as a healthcare practitioner. Prospective healthcare managers will find a bachelor's degree in health administration especially helpful. Advanced degrees in public health or business administration can aid career advancement in the healthcare management field.
You'll need to be organized and detail-oriented to succeed as a healthcare manager. Analytical skills will also come in handy when evaluating medical services and maintaining compliance with regulations. Since you'll also need to motivate and lead a medical staff, interpersonal skills will be of great benefit in your healthcare management career.
What Are Employers Looking For?
If you meet the requirements for a healthcare manager position and have some experience in the field, you might find work in many varied industries and/or medical settings. Many employers are looking for college-educated candidates with some experience and skill in overseeing large groups of people. Some job postings open as of mid-April 2012 shed some light on the opportunities available for jobseekers in the healthcare management field.
- A large medical clinic in Oregon seeks a medical administrator to oversee corporate functions and daily operations. Responsibilities include supervising staff recruiting, human resource issues, regulation compliance and payroll concerns. A bachelor's degree is required for the position, and a master's degree in business or healthcare is preferred. Seven years of experience overseeing a large medical clinic is also a requirement.
- A national healthcare company based in Houston, TX is looking for a manager for its Medicare service center. Responsibilities include performing data analysis and making recommendations for company programs and projects. Recruiting, developing and motivating staff will also be a necessary part of the job. A bachelor's degree and six years of experience in healthcare with management responsibility are requirements of the position.
- A healthcare services network seeks a regional practice manager to oversee physician services in southern Florida. The position involves monitoring patient flow to ensure appropriate staff coverage and meeting with physicians to verify that their business needs are met. The successful candidate will also develop and monitor annual budgets for network-affiliated practices. A bachelor's degree and five or more years of supervisory experience in medical practice management are required. A master's degree in business administration or healthcare administration is preferred.
How to Get an Edge in the Field
An advanced degree in business administration or public health can help you get an edge on other jobseekers in the healthcare management field. Those degree programs that offer internships can be beneficial, as hands-on training can prepare you for entry-level employment in an administrative position. Certain specialized positions such as managers of physical therapy facilities may find that experience as healthcare practitioners can help them stand out from other jobseekers. Prior experience with work force scheduling could also help you set yourself apart in a competitive job market.
You might also benefit from joining a professional organization such as the American Association of Healthcare Administrative Management (AAHAM) or the Medical Group Management Association (MGMA). Through membership in such organizations, you could gain industry certifications, stay up-to-date on the latest advancements in the field, and learn about new government regulations that affect healthcare facilities.
Alternative Career Options
If you want to apply the same type of broad administrative skills to a field other than healthcare, you may want to consider working as a social service manager. This administrative career option requires a bachelor's degree and involves coordinating administrative functions and wide-ranging programs. The BLS projects 27% job growth for social services managers in the coming years, and reported a median 2010 annual salary of $58,000.
A career in the administrative services management field may also be an option to consider. Occupations in this field generally require only a high school education, and the median annual salary in 2010 was $78,000. The BLS projects average job growth for administrative services managers, with overall employment expected to increase by 15% from 2010-2020.
