The Future of Healthcare Administration: Where Could it Take You?
Globally, the healthcare industry remains one of the most in-demand professions. With a growing population and the fact that the baby boomers will remain active once they reach retirement age, health care institutions and services are expected to increase in response to these demographic shifts. These much needed services include healthcare administration.
What are Future Predictions for a Career in Healthcare Administrator?
The demand for healthcare administrators is expected to grow, according to the Bureau of Labor Statistics (BLS), the demand is expected to grow at a rate of 17% between the years from 2014 and 2024. This growth rate is much faster than the average demand for other jobs.
The median salary for these healthcare administrators, the BLS reports, is $96,540 annually at a rate of $46.41 per hour. The average wage potential along with the job opportunities typically are dictated by numerous factors like candidate’s education level along with professional experience, as well as the cost of living and income averages in your geographical area.
Why is it expanding so fast and why is there so much job security predicted?
The aging baby boomers will increase the demand for healthcare, therefore, increasing the need for more administrators in the healthcare facilities. As this massive section of the population ages, they will need care in a variety of ways. From physical therapy, to surgical intervention, to hospice care, there has to be people there to provide these healthcare services and coordinate all of them.
Population growth is as well one of the main factors affecting the employment rate of healthcare administrators. The US Census Bureau estimates that a baby is born in the country every 8 seconds. Even with the death rate taken into account, the US has a net gain of one person every 14 seconds. The increase in the population will create the need for new healthcare services along with service providers. This growth will lead to a projected growth for healthcare administrators along with other areas of the healthcare employment sector.
What skills and knowledge will I need to enter the field?
You need a variety of skills to be successful as an administrator. First of all, you should tight up your organizational skills and, if you don’t have it already, start paying closer attention to details. In the medical field, making a careless mistake could be disastrous.
You will also need to be comfortable with computers and data analytics. A great deal of hospital records are digital these days, so a great healthcare administrator has to know how to navigate a computerized record system and utilize the data.
Administrators are also usually responsible for hiring, training, and firing staff. People skills are a must for anyone who wants to fill this position. From hiring a good candidate for the office to motivating the team to work together and be at their most efficient, to having to let someone go, having interpersonal skills can help a healthcare administrator succeed.
This position also requires a bachelor’s degree, usually in a healthcare management field, and some previous experience in a healthcare capacity. Registered nurses, financial clerks, or administrative assistants, with the proper education, are good candidates for a healthcare administrator position.
Would you like to be a part of healthcare administration’s bright future? If you are interested in earning a Bachelor of Science Degree in Health Science with a major in Healthcare Administration, consider ECPI University for your educational needs. To start the conversation, connect with a helpful admissions advisor today.
It could be the Best Decision You Ever Make!
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Gainful Employment Information – Healthcare Administration - Bachelor’s
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