High-Paying Jobs for Healthcare Administration
• Chief Nursing Officer
• Hospital CEO
• Hospital Administrator
• Health Informatics Manager
• Pharmaceutical Project Manager
With the constant emphasis on providing good healthcare for all, the healthcare industry is booming, and there are many high-paying jobs for healthcare administration. A candidate’s academic training and work experience in healthcare play a large role in determining wages, but there are some excellent jobs out there for the candidate committed to having a leadership role in healthcare. Here are five high-paying jobs for healthcare administration candidates.
Chief Nursing Officer
The chief nursing officer performs nursing, administrative and leadership duties. Chief nursing officers work with hospital management to obtain the correct infrastructure and resources. The CNO must have extensive knowledge of patient policies, staff rules and nursing procedures. He or she may also perform some of the duties of a hospital CEO or chief administrator and take part in hiring and educating nurses. Setting health services rates and planning budgets may also be part of the CNO’s duties. The chief nursing officer develops and supervises the daily activities of a hospital and also coordinates health and medical services to ensure they’re in compliance with government regulations. Chief Nursing Officers earned a median wage of $124,600 as of April 2018, according to PayScale.
The hospital CEO (chief executive officer) is the person at the top of the managerial ladder and the one who basically runs the hospital on a daily basis. It’s his or her responsibility to ensure that patients are receiving good quality care while also being cost-effective and efficient for the hospital. It’s also their responsibility to instill their vision of the hospital not just to employees but also to the community and to promote the hospital’s mission. The hospital CEO works with other senior leaders, such as chief nursing officers, chief financial officers and chief medical officers. The CEO also consults with medical staff members and the board of trustees regarding important policies for the facility. An April 2018 wage report by PayScale indicates that chief executive officers earn $164,947.
Hospital administrators, also known as medical and health services managers by the U.S. Bureau of Labor Statistics (BLS), arrange, direct and coordinate medical and health services. Dependent on the facility, the hospital administrator may manage a department or an entire medical practice. They must be knowledgeable of healthcare regulations and laws and ready to adapt when necessary. Their duties also include recruiting, training and overseeing staff members; developing work schedules; developing and monitoring budgets; communicating with staff members; organizing a facility’s services and representing the facility at important meetings. The wage for hospital administrators was $90,306 as of April 2018, according to PayScale.
Health Informatics Manager
Health informatics managers manage a health informatics teams and generally have at least three years of managerial experience. They also coordinate with other departments of the hospital or medical facility in resolving operational issues. The health informatics manager often provides recommendations on the budget and provides input into strategic issues that may affect the functionality of the hospital. They also monitor technology and software to ensure it’s the latest and most up-to-date. The health informatics manager reports to the head of a department or another manager. They oversee the management and performance of healthcare date to assist in patient care. PayScale reports the wages for health informatics managers at $90,357 as of April 2018.
Pharmaceutical Project Manager
A pharmaceutical project manager is in charge of overseeing new pharmaceutical products and the duplication of existing products currently used by the company. They manage projects from the beginning right to completion by assigning tasks, assembling teams, and setting target dates for completion. Pharmaceutical project managers manage documentation, data and error reports while also communicating with clients regarding project plans, schedules and deliveries. Managing budgets, timelines an project risk is also their duties. PayScale reports that pharmaceutical project managers earned $88,726 as of April 2018.
Medical and health services managers, the professionals who work in healthcare administration, earned wages ranging from $58,350 to $176,130 or more with the average annual wage at $111,680 in 2017, according to a BLS report. With this field offering so many career opportunities, qualified individuals should have no trouble finding high-paying jobs in healthcare administration.