Health care management often requires an interdisciplinary background which, more often than not, means multiple degrees or dual degrees to gain the knowledge necessary to succeed in the industry. These days the average middle class American requires much more to maintain a comfortable life. Earning a high salary isn’t just “nice” it’s essential largely in part to excruciatingly high costs for students loan payments. You get the picture. Finding a high paying job in health care management is likely a top priority. What we discovered is that there are a number of health care management jobs that pay exceptionally well. Sure it does mean that you too must maintain exceptional professional standards but the same is true in any industry. If you have a background in business and technology you will likely fair better than those who have a medical background. If you have all three and years of experience to boot, then it’s time to start applying to the top C-suite jobs in the industry. Not sure where you would fit in? Take a look at the top 10 highest paying health care management jobs for a closer look.
The Chief technical officer (CTO) healthcare administration is responsible for managing technical services and apply an IT roadmap which support clinical financial and strategic missions of the hospital or healthcare center. As a CTO you will do the following: analyze evaluate and promote security, investigate software and hardware that’s useful and compatible for the healthcare facility, provide leadership for all network related activities including sharing with contractors and vendors who provide services for the healthcare setting. As a CTO you must have a strong knowledge of current business practices as well as interfaces in standard software as well as hardware requirements for medical facilities. The CTO should have an understanding of issues related to healthcare including security, current trends, and management issues. The CTO typically has a background in project management that includes leadership and teambuilding as well as oral and written communication skills and budgeting management skills. To become a CTO most positions require a minimum of five years of applicable experience from a healthcare organization. The average salary for a hospital CTO is $194,639.
- Average Pay: $194639
The hospital CEO oversees the performance in working of every aspect of a hospital. The CEO manages day-to-day operations and broader strategic developments for the long-term success of the hospital. The CEO may hire and retain qualified staff and is responsible for ensuring that the hospital delivers the highest quality in patient care. The CEO of any organization is responsible for the financial performance of an organization and must therefore house a strong background in finance and be able to create a budget that works at any scale for their medical facility. Often times, a CEO has to develop relationships with others outside of the hospital setting including those in the press, referring physicians, and the greater medical community. As a hospital CEO, you should have a Master of Health Administration in hospital management or an MBA of in hospital and healthcare management. Most positions require healthcare administrators to have at least five years of experience before landing a job as a CEO. The salary expectation of a hospital CEO ranges depending on the size of the hospital but starts at about $153,000 and can go much higher.
- Average Pay: $153084
Hospital Chief Financial Officer
The hospital chief financial officer develops a strategic financial plan to operate a medical facility. The CFO is responsible for business development, preparation of financial statements as well as revenue management, and must oversee patient and ministry admissions processes as related to healthcare the healthcare industry patient. TH CFO must engage with financial management techniques in accounting that are relevant to the healthcare industry. Typically, the chief financial officer reports directly to the CEO of the hospital and regularly interacts with top management in the hospital and with affiliated organizations. Many chief financial officer‘s maintain contact with other consultants and government agencies. The prime responsibilities of a chief financial officer are as follows: to create financial reports that are both internal and external, design financial policies,procedures and systems, create reimbursement strategies, design operational capital budgets, file tax returns and plan for taxes, analyze patient financial services, and disperse payments such as payroll and accounts payable. As a chief financial officer you must have excellent verbal and written communication skills as he will regularly consult with upper management. Additionally, you must have highly technical skills as you will be interpreting current financial trends and be required to take appropriate action. Chief financial officer’s must be able to interface with the community as they are regularly required to engage with external professional associations and participate in community service.
- Average Pay: $152106
A Director of Nursing is responsible for supervising and leading an entire nursing unit. Ultimately the director of nursing is responsible for the care that is received by the hospital’s residence. Some of the director of nursing job duties may include: directing the nursing program including updating policy and procedure when necessary, overseeing the nursing staff including hiring and firing as well as developing nursing training. Directors in nursing must also have exemplary oral and written communication skills as a director of nursing communicates with the residence, the families, and physicians as required by their job. Typically as a nursing director you will have a hand in developing the budget for the nursing unit and be in charge of creating a care plan for residents of the hospital as well as ensure that those plans are followed. Finally, a nursing director is always compliant with local state and federal regulations and creates updates to policy as needed. A director of nursing salary ranges depending on experience but it’s typically around $150,000 a year. To land a director of nursing job it is important to have a background as a nurse practitioner as well as at least five years of experience.
- Average Pay: $150724
Health Information Manager
The Health Information Manager manages an entire facility and reviews medical records for accuracy completeness and timeliness. The health information manager also organizes and maintains the databases and assigns clinical coding for insurance purposes. As a health information manager, patient outcomes are a big part of your job. In fact, health information managers track and analyze patient data to ensure that residents are receiving the care they need and furthermore that healthcare has been adequate enough to ensure prolonged safety of the residence. The health information manager ensures that data has been electronically recorded within a secure setting and is always seeking new ways to protect patient privacy. Additionally, the health information manager manages other staff members who are responsible for healthcare informatics. The manager works with the staff to ensure that patient data is accurate and up-to-date. As a health informatics manager you can expect to earn on average $132,000 a year. This position is growing and according to the Bureau of Labor Statistics health informatics managers are on the rise. This position is growing by a rate of 8% which is much faster than the national average.
- Average Pay: $132040
Nursing Home Administrator
A nursing home administrator is responsible for every level of management at a nursing home including patient care and overall budget and mission of the organization. In other words, a nursing home administrator is both responsible for patient care and business decisions. Some of the job duties of a nursing home administrator include hiring and firing staff, keeping an organization on track for long-term goals, providing staff training, lead teams that to include managerial clinical custodial staff members, create the budget, and act as the overall face of an organization communicating between staff families and other residents of the community. Nursing homes are 24/7 in nature. Therefore, nursing home administrators may work non-standard hours including nights, weekends, and holidays. Typically, a nursing home administrator does not engage in clinical work and spends a great deal of time interacting with members of the community, staff, and family members. Because of this, a nursing home administrator must have a pleasant demeanor and have excellent oral and written communication skills. Additionally, a nursing home administrator is organized, punctual, and a great leader. This position has risen in need over the years due to the growing number of individuals in the aging population. The average salary of a nursing home administrator is $117,000 a year.
- Average Pay: $117766
Medical and Health Services Manager
A medical and health services manager is an individual responsible for the overall operation of the health service facility. As such the health services manager manages employees, creates and maintains the facilities budget, while remaining up-to-date on current health service related laws and technology required to operate. As an individual who both manages people and finances, it’s important to have a background in business as well as in health. The health services manager will hire train and supervise all employees. Additionally, the health services manager should have a technology background as they will be in charge of maintaining the facilities records. Finally, health services manager should have knowledge of the medical community as they will be working hand-in-hand with medical professionals as well as patients and our insurance companies. As such, the health service manager position is inter-disciplinary. To become a health service manager one should have at least a bachelors degree in health administration. However a masters degree is typically required. The job outlook for this position is particularly good with an 18% growth rate- much higher than the average job growth. According to the Bureau of Labor Statistics, the median salary for a medical and health service manager is $99,730 a year.
- Average Pay: $99730
Health Care Consultant
As a healthcare consultant you will be required to analyze an organization’s operations and discover inefficiencies within it. In other words, the primary role of a healthcare consultant is to recommend ways to reduce costs and to increase revenue within an organization. When applied to a medical setting, this means working hand-in-hand with the healthcare facilities administrators to identify the exact problem areas than to propose solutions. A healthcare consultant will need to conduct evaluations and then design systems and procedures to improve efficiencies. As such, this career involves a lot of programming analysis and management consulting. As a consultant it is important to have exemplary oral and written communication skills, a pleasant demeanor, and be reliable. Healthcare consultants may work as independent contractors or be hired from within a company as an ongoing consultant and analyst. As a healthcare consultant you may work with C-suite executives as well as nurses and doctors. Therefore, it is beneficial for a healthcare consultant to have a working knowledge of the healthcare industry as well as some previous medical training. However it is not always necessary to have medical training. Many individuals with with a degree such as an MBA do well as healthcare consultants. Some individuals may choose to become certified as a certified management consultant (CMC) to increase their job prospects. As a healthcare consultant,you should be able to engage with critical thinking, have exemplary math skills, and have good judgment. On average, a healthcare consultant earns $95,688 a year.
- Average Pay: $95688
A hospital administrator is responsible for overseeing the health services as well as the activities of a hospital or other healthcare facility. The healthcare administrator job duties are: managing the budget and maintaining the budget, managing staff including hiring and firing as well as training staff, becoming the communicative liaison between departments to ensure quality control and the highest patient care, and working alongside IT technicians to ensure that healthcare technology to ensure that technology safely protects patient privacy. The day-to-day jobs include managing the budget, sterilizing equipment, evaluating personnel, ensuring HIPPA compliance, training personnel, coordinating services with the hospital board and other regulating authorities, completing documentation of patient visits and more. A hospital administrator should have a minimum of a bachelors degree in healthcare administration as well as a CPR certification and a good working knowledge of HIPAA regulations and other coding regulations. To be an excellent healthcare administrator you should have fantastic oral and written communication skills, the ability to multitask, planning skills, the ability to work independently and as part of a team, have critical thinking skills as well as problem-solving skills, and a number of years of experience In management. On average, a hospital administrator earns $87,269 a year.
- Average Pay: $87269
Clinical Practice Manager
A clinical practice manager or just practice manager oversees the business side of a physicians practice. In other words, a practice manager oversees the billing, pay, staff performance as well as recordkeeping in a facility. The practice manager ensures that the business opens and closes on time and that all of the appointments are made and completed. The practice manager is in charge of the budget and ensures that billing is done correctly and to code. The practice manager is also is in charge of staff performance and therefore hires, fires, and train staff appropriately. Overall, practice managers are responsible for the operation of the practice which includes the health and safety of its staff. Additionally, many practice managers are in charge of medical supplies as well as maintaining the equipment and ordering medical supplies. In many instances, a practice manager functions as an HR representative and helps to resolve conflicts in the workplace. Finally a practice manager overseas records and ensures that they are safely stored. Therefore, practice manager will interface with IT professionals. To become a successful practice manager It is important to have a background in business as well as a number of years experience in administration. Practice managers benefit from superior math skills including those in accounting and statistics as well as effective oral and written communication skills. On average, a practice manager can expect to earn $71,076 a year.
- Average Pay: $71076