Healthcare administrators are also known as health services managers or healthcare executives (HCE). Factors affecting the salary include the location of a medical facility where the individual works, the skill and experience level, professional reputation, resume quality, overtime availability and promotional potentials. Currently, individuals with at least an Associate’s Degree in Healthcare Administration are actively hired for their skills in medical transcription and medical billing for a salary of $30,000 to $55,000 per year. As per the federal statistics, HCE is among the fastest-expanding disciplines.
Healthcare Administration Salary Job Description
HCE’s typically do not directly undertake work related to patient care. Instead, they assist to ensure that the facility is properly marketed and that the employees working efficiently and are satisfied. Also, they have to ensure that their facility is meeting their projected finances. They are responsible for the medical facility. Their duties can be complex and varied. Handling such tasks requires a mix of knowledge of medical services, knowledge of the regulation that govern this industry and business administration skills. Usually, a HCE works to minimize the costs and maximize efficiency while ensuring that the service provided is the best possible.
How To Become A Healthcare Administration Salary
In order to become a HCE, one must typically have to acquire a minimum of bachelor’s degree. However, most of these managers tend to have a master’s degree or a higher equivalent in a business-related area, possibly with a specialized degree in the healthcare industry. Coursework will usually include management and organization within the health-care field, budgeting and accounting practices, law and ethics, health economics and strategic planning. Also, medical professionals who opt for administrative roles will seek an MBA. The other popular option is to acquire a healthcare administration degree instead of a general business degree. Professional advancement could come with supervisory experience, additional educational qualifications, or a combination of both.
Duties of Healthcare Administration Salary
HCE’s are required to carry out any or all of the below listed tasks on a daily basis:
• Research and understand various healthcare regulations and laws
• Act as a representative of their medical facility while speaking to possible financial backers and with the public
• Communicate new policies and all other changes with their employees
• Financial management of their facility
• Oversee functions related to billing and medical records
• Creating work schedule for the department head as well as other staff members.
How much does a Healthcare Administration Salary make?
The HCE salary median is nearly $84,000 per year. The upper hourly salary is $74.58 and the lower median salary is $26.67. The median comes to $43.72 per hour.
Healthcare Administration Salary in USA
An entry-level professional with an Associate’s Degree in Healthcare Administration can earn around $30,000 per year. A starting professional with a Master’s Degree in Healthcare Administration can make an approximate of $100,000 per year. The hourly rate for an experienced HCE ranges from $15.00 to $50.00 with an hourly overtime rate that ranges from $25 to $40. Currently, individuals with at least an Associate’s Degree in Healthcare Administration are actively hired for their skills in medical transcription and medical billing for a salary of $30,000 to $55,000 per year. Professionals with a bachelor’s degree in this field are in great demand and they enjoy an average salary of nearly $90,970 per year. A master’s degree holder earns salary of up to $156,000 per year
Healthcare Administration Salary by state
A health services manager is responsible for the overall planning, coordination and direction of health and medical services. HCE’s manage specific departments, hospitals or clinical section within a hospital, private medical practices, other medical facilities and medical and diagnostic laboratories.
Alaska – $30,000
Alabama – $41,000
Arkansas – $41,000
Arizona – $33,000
California – $44,000
Colorado – $36,000
Connecticut – $47,000
DC – $51,000
Delaware – $36,000
Florida – $38,000
Georgia – $46,000
Hawaii – $25,000
Iowa – $40,000
Idaho – $27,000
Illinois – $46,000
Indiana – $39,000
Kansas – $37,000
Kentucky – $35,000
Louisiana – $36,000
Massachusetts – $49,000
Maryland – $42,000
Maine – $36,000
Michigan – $41,000
Minnesota – $36,000
Missouri – $40,000
Mississippi – $43,000
Montana – $34,000
North Carolina – $39,000
North Dakota – $36,000
Nebraska – $30,000
New Hampshire – $40,000
New Jersey – $44,000
New Mexico – $35,000
Ohio – $39,000
Oklahoma – $38,000
Oregon – $39,000
Pennsylvania – $39,000
Rhode Island – $37,000
South Carolina – $40,000
South Dakota – $31,000
Tennessee – $38,000
Texas – $39,000
Utah – $32,000
Virginia – $41,000
Vermont – $36,000
Washington – $42,000
Wisconsin – $36,000
West Virginia – $38,000
Wyoming – $34,000
Healthcare Administration Salary in Canada
Salary of a HCE in Canada will range anywhere from C$30,000 to C$115,500 with a median range receiving approximately C$53,000. On the other hand, after including a yearly bonus of approximately C$6,787 and profit sharing of an approximate C$4,067, the HCE’s salary in Canada could range from C$29,898 to C$115,478. Some even receive premiums for their post-secondary education or for working in the evenings or weekends. As per the national average statistics, 10% of entry-level HCE’s in Canada earn around C$30,000 per year and the median figures around C$54,000. Majority of experienced professionals earn anywhere between C$100,000 and C$120,000.
Healthcare Administration Salary in UK
HCE salary in United Kingdom ranges from £15,500 to £21,174. The average HCE salary in UK is around £51,700. HCE in North West can make approximate £17,120 whereas a HCE in South West receives an approximate £16,825, whereas those in Scotland can make around £19,972. Also, those in Wales can earn around £16,721, a HCE in North West can earn around £17,146, Professionals in Yorkshire and the North East area can take home around £15,664 and those in the South East area can make around £19,981. A HCE in Northern Ireland can earn around £18,455 and an administrator in East of England gets around £17,079 and those in London take home around £22,214.
Healthcare Administration Salary in Australia
As per the average national statistical claims, the sector of healthcare and medical has recorded an average income of AU$100,000 for all those professionals who have been holding a medical administration job. The average income for medical record administrator is AU$56,000 per year. The senior professionals are taking home an average salary of about AU$83,322 while the average starting income could be AU$31,700 a year. The top three places to work in are New South Wales, Queensland and Victoria. As a result of an increasing aging population of elderly people as well as their medical requirements, professionals who possess Master’s and Bachelor’s Degree are in high demand.
Healthcare Administration Salary Job Outlook
According to recent reports a HCE can expect an extremely promising job outlook. The available positions in this field are highly competitive, yet a good candidate is also in great demand. There are a number of positions that are expected to rise by over 22% over the next ten years. This is even faster than the expected average projected job rise for this time period. The national aging population in various countries caused by improved life span has fueled the growth of this industry. By 2020, nearly 20% of the overall population will be over the age of 65. This means that the jobs within this field will have a wide variety of entry-level positions ranging from nursing-home administrators to research lab managers.