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Careers & Salary for a Master's in Healthcare Management

Oct 22, 2019

This article discusses various career options available with a master's degree in healthcare management. Read further to find out more details such as median salary, job growth, and job description.

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A master's degree in healthcare management is advantageous for administrative or management careers in hospitals, medical organizations, and federal health departments. Given below are some careers available for graduates with a master's in healthcare administration.

Master's in Healthcare Management: Jobs and Salary

Job Title Average Salary (2018)** Job Growth (2018-28)*
Chief Executive Officer $158,428 6%
Chief Operations Officer $163,890 6%
Healthcare Administrator $65,537 18%
Clinical Operations Manager $82,108 6%
Health Information Manager $54,112 18%

Sources: *U.S. Bureau of Labor Statistics, **PayScale

Careers Related to Master's Degree in Healthcare Management

Chief Executive Officer

Chief Executive Officers (C.E.O) manage the overall functioning of an organization and is responsible for making executive decisions, such as those related to organizational policies and business strategies. The C.E.O commands, monitors, and guides other executive employees in the organization. They are also responsible for building and maintaining excellent and profitable relationships with the organization's stakeholders and other business executives. In short, C.E.O's prime duty is to take initiatives that are geared towards the organization's goals. Students of master's in healthcare management can use their leadership, decision making & policy analysis, and organization management skills in this role.

Chief Operations Officer

A Chief Operations Officer (C.O.O) manages the day to day operations of a hospital or a healthcare organization and makes sure that the standards laid by the organization or other healthcare agencies are followed in every step. The C.O.O is second in ranking only to the C.E.O and carries out the strategies devised by the C.E.O. The C.E.O also develops and implements health care programs or services for the community to build a reputation. The financial management and operations management skills acquired during the master's program can be of great help in this career.

Healthcare Administrator

The primary responsibility of a healthcare administrator is to supervise and lead the nursing staff in hospitals or health care centers. The duties of a health care administrator include hiring and training the nursing staff, assigning roles to them, reviewing their performance at regular intervals, or overseeing all these processes. They may also deal with financial operations management, and implementation and enforcement of hospital policies. In this career, graduates in healthcare administration can use their awareness of health care rules and policies.

Clinical Operations Manager

Clinical Operations Managers will look after the daily activities of a medical department, including sales and payments, staff management, and customer services. They inspect the works of employees like technicians, engineers, and accountants and assign duties and tasks to them. Supervising the clinical trial runs and researches to ensure their cost-efficiency and adherence to quality and medical standards is another typical role of clinical operations manager. The concepts and procedures of health quality management and operations management learned during the master's program can be applied in this job.

Health Information Manager

Health information managers are occupied with the collection and maintenance of information in clinics, hospitals, health insurance organizations, and government health departments. They are responsible for recording, transferring, and storing data by complying with the legal regulations. Their duties are to manage records and transcriptions, file Release of Information, file and retrieve medical registries including those of tumor and trauma, and develop health policies or information related to them. Technology management and healthcare informatics courses taught in the master's degree can be helpful in this role.

A master's degree in healthcare administration leads to leadership careers like Chief Executive Officer, Chief Operations Officer. Also, the management career options like Clinical Operations Manager, Health Information Manager, and Healthcare Administrator are available with this degree.

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