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Career Definition of a Healthcare Risk Management Director
Healthcare risk management directors often supervise healthcare risk managers as part of their duties and can be involved in overseeing a wide range of tasks that help shape healthcare decisions. Some of these directors participate in creating budgets and help establish policies. Part of their role involves ensuring quality healthcare is provided in accordance with applicable regulations. They may participate in evaluating the healthcare delivery process to determine ways to make it more efficient.
Healthcare risk management directors are also involved with healthcare financing. They may themselves assess information related to insurance or other healthcare funding and use that data to inform recommendations about policies or facility decisions. They may be involved with evaluating information related to any aspect of healthcare services that exposes their facility to risks related to safety issues and financial factors. Their duties may vary depending on where they're employed and the size of the facility.
|Educational Requirements||Bachelor's degree|
|Job Skills||Mathematical skills, attention to detail, leadership skills, organizational abilities, analytical skills, problem-solving strengths, communication skills|
|Median Salary (2017)*||$115,811|
|Job Outlook (2016-2026)**||9% (financial specialists, all other)|
Sources: *Salary.com; **U.S. Bureau of Labor Statistics
The minimum level of education required to become a healthcare risk management director is a bachelor's degree. Those considering this career field can choose to study disciplines such as health administration or business administration. Relevant training in management may be an asset, and those considering this career may opt to continue studies to earn a certificate in business leadership and management or may complete management training, such as Project Management Professional (PMP) certification.
Healthcare risk management directors may work with large volumes of financial or statistical data and may also be involved with producing budgets, so they need to pay attention to details and have strong mathematical skills. They also must have exceptional leadership and organizational abilities in order to effectively direct the staff that they supervise. Analytical skills are important because they must review large amounts of data. Problem-solving skills are essential to develop effective policies and recommendations. These directors must be effective communicators in order to direct the staff that they oversee and for reporting to other managers.
Career Outlook and Salary
A median annual income of $115,811 was reported for healthcare risk management directors by Salary.com in 2017. Healthcare risk management directors are not listed separately by the U.S. Bureau of Labor Statistics (BLS), but are included with the occupational listing for 'financial specialists, all other'. The BLS anticipates that those employed in this career field will see a 9% increase in job opportunities from 2016 to 2026.
There are several occupations that can develop skills to prepare for a career as a healthcare risk management director. Since prior relevant experience may be required for this profession, those considering this career field may wish to use the links here to explore related careers.