Healthcare managers oversee the business operations of hospitals, clinics, rehabilitation centers, and other kinds of healthcare organizations. The primary responsibilities of a healthcare administrator include management, budgeting, supervising operations, coordinating departments, among many others. Read on to learn about the benefits of pursuing a degree in healthcare administration.
Demand for healthcare managers and administrators
The Census Bureau projects that adults aged 65+ will outnumber children by 2030 in the US. This is a natural consequence of a better quality of life and the evolution of medicine -- when people live longer they need healthcare longer. The Centers for Medicare and Medicaid Services (CMS) also projects national health spending in the USwill grow at an annual rate of 5.4% and reach $6.2 trillion by 2028.
Due to this growth, the healthcare sector will need more professionals each year to keep up with the industry's growing demand. Recent graduates coming into the workforce will benefit from having job stability, which not many other careers can offer.
Salaries for healthcare managers and administrators
Among the many benefits of working in healthcare administration, the salary stands out. According to the Bureau of Labor Statistics (BLS), the average salary for healthcare administrators in the US as of May 2020 was $104,280. Leadership skills and expertise in the complex systems involved in smoothly running a healthcare organization are the qualities associated with top positions in the field.
Job opportunities for healthcare managers and administrators
Managing a hospital system is not the only job opportunity awaiting health administration graduates. This field offers many job possibilities, such as positions at consulting, pharmaceutical, non-profit, government, and health insurance companies and organizations. There are many rewarding career paths for healthcare administrators in this rapidly-growing industry.
Not many professions are as rewarding as working directly to improve people's lives and health. Healthcare managers and administrators play an essential role in creating and implementing policies designed to create a more efficient and fair healthcare system with better outcomes. Leaders in this field work to make the vision of equal access and quality care a reality.
Every day is different
You don't have to worry about falling into a mindless work routine when you're a health administrator. Healthcare managers and administrators are constantly called to new challenges when working in the dynamic health sector. You will think on your feet and develop quick, efficient solutions, and develop valuable expertise in the area.
Health Administration at NYU Wagner
If you want to advance your career with a master’s degree in health administration, learn more about NYU Wagner’s Online Master of Health Administration (MHA) program.
The MHA is a part-time, online program designed for working professionals. Students will enjoy the benefits of live classes with a cohort of healthcare professionals along with the opportunity to learn from distinguished NYU faculty with experience in managing some of the most prestigious organizations in the US. In the second term, students participate in a two-day immersion in New York City, where they connect with their colleagues and professors and participate in a workshop focused on effective communication, leadership, ethics, evidence-based management, and their own career development potential.
NYU Wagner Online MHA graduate Dennis Liu, explains, “NYU Wagner's MHA program has provided the best tools to succeed in the healthcare industry. The classes are very interactive, the curriculum is tailored to real-life issues, and the professors are industry professionals with years of experience.”
"You're going to class with healthcare peers and they have unique perspectives on the industry. Altogether, that creates a great learning environment."
And NYU Wagner isn't just preparing students -- it's making a real change. NYU Wagner's capable and innovative alumni, faculty, advisors, and staff are breaking the status quo, building a more equal, effective, and fair healthcare system by making an impact across all areas of public service. U.S. News & World Report ranks NYU Wagner #2 in Health Policy and Management among public affairs schools. If you're ready to take the next step in your career and start leaving your mark on the healthcare industry, learn more about the program and how to apply here.
Article written in association with the NYU Wagner.