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Healthcare executives play a crucial role in creating positive environments for patients and healthcare professionals. They are tasked with running departments, clinics, or hospitals and ensuring they have their staffing needs met, meet their budgetary goals, are following regulations, and are giving the best possible patient care. Health and medical care are crucial in our world, and leadership is needed to help oversee all the moving parts to make healthcare run smoothly. Executive professionals, management teams, and other leadership roles focus on the administrative and business roles of healthcare. While they aren't focusing on patient care like a physician would, their administrative role allows them to oversee patient care in a different and unique way. There are many opportunities as a healthcare executive, and it's valuable to understand the role, salary opportunities, and more.
Healthcare executives and managers have important responsibilities in the medical clinics and facilities where they work. Some of their important tasks include:
The average salary for medical and healthcare management positions is around $100,000 per year. The bottom 10% of this profession earn around $58,000, while the top 10% earn more than $189,000. There are many factors that determine your salary level, including your specific job title, the location where you work, your years of experience, and your education level. For example, a clinical healthcare management job may pay less than an executive-level leader in a hospital.
There are many different job titles that fall under the umbrella of healthcare executive. Some of these jobs include:
In order to become a healthcare executive, your education is extremely important. You'll need to begin with a bachelor's degree in healthcare or business to help you be prepared for entry-level roles. You can usually begin to get administration or management positions with a bachelor's degree, but in order to work your way up to more executive roles, you'll need a master's degree. A master's in health leadership can be a perfect option if you want to pursue higher-level positions in healthcare. A master's degree in health leadership will give you important skills in business, finances, strategy, and communication, while also giving you insight into how health systems work, patient-focused strategy, and more.
Healthcare management and administration roles are expected to grow 32% by the year 2029. This is six times faster than the national average for career growth. The reason this occupation is expected to grow so rapidly is due to continuing healthcare needs. As populations age and continue to live longer, more healthcare professionals are needed to keep facilities and departments organized and well-maintained. Growing technology, new facilities, and more focus on healthcare will also continue to contribute to the explosive growth of this field.