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What Can You Do With a Healthcare Administration Degree?

Students thinking about going into the healthcare sector have often wondered, “What can you do with a Healthcare Administration Degree?” The answer depends on the concentration, such as research, quality assurance, data analysis, or facility management. This degree program will give them key insights into the world of hospitals, clinics, human relations, recovery centers, and even government. If you have a strong constitution and want to really make a difference in people’s lives, then this career is for you.

Pursuing a healthcare administration degree will help you learn the specific responsibilities and roles of each practitioner in different health departments, how they interrelate, and how they contribute to the overall organization. You will also study principles and policies in relation to ethics, healthcare finance, and systems.

When pursuing a bachelors degree in healthcare administration, your courses should give you an idea of what you can do with a healthcare administration degree:

▪ Learn the necessary skills and expertise to start a career in the healthcare sector

▪ You will learn how to collect and interpret data, and how to communicate data to different stakeholders

▪ Gain knowledge of the theories and concepts related to healthcare

▪ Study new trends and advances in the industry

▪ Study the foremost issues on the management, function, and design of the healthcare industry

▪ Learn the laws relating to the healthcare system such as the Health Insurance Portability and Accountability Act, or the acts regulating healthcare professionals, The Patient Protection and Affordable Care Act, etc.

 

The industry has a lot of room for growth, and the Bureau of Labor Statistics has a positive projection of the healthcare sector as it’s expected to grow 19% or about 2.3 million jobs from 2014 to 2024. The expansion is attributed to the aging population, as well as the increasing number of people with access to insurance due to the reforms in health care laws.

Careers in healthcare, on average, pay well. The annual median salary as of May 2016 was $63,420. Compare that with the average income across occupations which was $37,040.

 

What Can You Do with a Healthcare Administration Degree

Below are some of the more popular jobs for those who hold a healthcare management degree include:

Medical and Healthcare Administrator – You will be in charge of an entire facility or hospital, or at least a department. You will enforce policies of the organization, oversee operations, strategize healthcare delivery, and adapt to the changes in the industry. The median pay is $96,540 per year.

Nursing Home Administrator – You will be responsible for managing a nursing home. You will also create a strategic development plan for the organization, supervise personnel and implement policies and regulations. Expect a median salary of around $108,000.

 Administrative Manager or Business Manager – You are tasked to oversee the personnel and ensure they are on board with the company’s vision and goals. As an administrative manager, you would be in charge of the day-to-day operations, making sure that the organization is on pace to meet its financial targets. You also provide ample support for employees to do their job well. The median pay is $90,050 per year.

Benefits Administrator – You prepare reports on health and welfare, as well as handle group dental, health, disability, insurance, 401k, employee compensation, retirement plan. Look for and study new benefits compensation packages to determine which of them give your company the best value. The median pay is about $51,000.

Social and Community Service Manager – You will be in charge of personnel who deliver social services in local communities. Also, you will coordinate with other agencies, community organizations, and stakeholders to implement programs. Median pay is $64,680 per year.

 

Other careers in healthcare include:

  • Dental office administrator
  • Lobbyist
  • Clinic manager
  • Recovery center administrator
  • Marketing staff
  • Insurance analyst

Of course, you don’t graduate with a healthcare management degree and expect to become a manager or CEO of a hospital right away. Reaching the zenith of your chosen path, however, can result in both career satisfaction and financial rewards. For instance, a hospital chief financial officer who is tasked to efficiently manage financial resources, create financial reports for stakeholders across the organization, and design strategies to ensure the financial health of the organization typically earns more than $120,000 a year at the minimum. A hospital CEO, meanwhile, will also earn you an annual base pay—excluding allowances and bonuses—of around $110,000 easily.

You need significant experience in the field and to prove your worth before you can climb up the corporate ladder. By that time, you won’t second guess yourself on the question of what you can do with a Healthcare Administration Degree.

If you really want to serve, you can utilize your health administration degree to work in the government, non-profit sector or the military. Community health workers or health educators earn an average pay of $44,390 across occupations. However, you work directly with people and really have a sense of self-satisfaction because you are making a difference in people’s lives.

Meanwhile, the military is always looking for people who are eager to serve. The Army, for instance, is interviewing applicants for healthcare administrators who are tasked to manage facilities, recommend policies and actions to improve healthcare delivery and implement the policies that will have long-term impacts on the healthcare system of the US Army. You may earn a signing bonus of as much as $40,000, as well as education benefits for when you decide to take pursue your masters.

The same goes for the Navy, which also offers attractive compensation packages to graduates of healthcare administration. In addition, you get educational benefits and insurance, as well as the opportunity to travel the world.

Students shouldn’t have reservations when the question “What can you do with a Healthcare Administration Degree?” looms over their heads. With the growth of this sector and the wealth of opportunities for professionals at all skill levels, healthcare administration is a field that can be rewarding for both your career and those you help on a daily basis. A good education will get you there.