Is Healthcare Management a Good Career Choice?
The healthcare industry is one of the most stable industries we have today. The segment has consistently shown stable growth. Across the country, the demand for hospitals, general clinics, urgent clinics, and outpatient surgery centers is at an all-time high. Moreover, we are at a stage where we have to manage the gap that will be left by the baby boomers who will also be entering retirement age soon. In simple words, the needs for healthcare continue to be enormous as disease prevalence increases as does worker shortage.
For those looking into a career that is well paid, offers great incentives, and has job stability, healthcare management should definitely be among the top. However, in order to become part of this growing industry and to be able to make your mark, you must have the necessary knowledge and skills. When you work in healthcare, you are in a position where you can have a significant impact on people’s lives. If you’re good at what you do, you can make their life better, but if you lack the necessary knowledge or skill, you can make their lives much much worse.
That is why acquiring the right qualification is paramount if you want to be successful in the field of healthcare management.
It is definitely a good career choice provided you ensure the following:
- Have a healthcare management degree: For those who are considering a career in healthcare management, the first step is to get a healthcare management degree from an accredited university or college. In general, the degree could be in health sciences that includes courses in healthcare law, healthcare management, administration, leadership, marketing, models of healthcare delivery, and health information systems. In fact, today, many colleges also offer more advanced degrees like business administration, finance, law, and human resource management to complement the Bachelor of Science degree. This also increases your chances of getting an excellent job.
- Internship training: For those who are keen on getting a job right after graduation, it is vital to obtain an internship at a healthcare institution/organization. Most experts recommend spending at least 9-12 months doing an internship in a well-known healthcare institution. This not only provides you with solid practical knowledge about health management and administration, but you will also get to meet people could potentially play a key role in your long-term hiring. There are many different types of healthcare facilities that you could work for as an intern including a hospital, a long-term care facility, a nursing home, a health insurance provider, or at its very basis, a busy multi-specialty clinic.
- Healthcare management jobs: As already mentioned, there is no shortage of jobs within the healthcare sector. Specifically to healthcare management and administration, you have a choice of healthcare management jobs in many subspecialties that include the following:
- Hospital management
- Nursing Management
- Financial management (billing and coding)
- Management of an urgent care facility
- Human Resource Management
- Purchasing and Procurement
- Quality control
Healthcare managers generally make very good money. Even when you’re starting off in this sector, you can start at $35-$40 an hour or an average salary of $96,540. This is an average figure that is dependent on geographic location, size of the healthcare facility, complexity of work as well as your education.
Most healthcare institutions also offer a variety of incentives like health insurance, loan forgiveness, continuing education, sign up bonuses, tuition discounts, and so on. In addition, this is one sector where you can easily progress and attain higher level positions if you prove to be an excellent manager.
Geographical Job Prospects
Healthcare administration jobs can be found all over the country. You don’t even have to make a lot of effort to find job openings as most healthcare management jobs can be found on the hospital/healthcare facility’s website.
The Department of Labor has stated that within the next decade, the need for healthcare managers and administrators will increase by approximately 20%, 70,000 new jobs will be created. Lastly, don’t forget. The demand for healthcare jobs is not limited to your country. The same prospects exist in other parts of the world, including Europe. The Middle East and Asia.
Therefore, if you’re looking for a good career prospect, health management is definitely one segment you should consider if you have the inclination and the interest.
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