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Healthcare Business Salary: How Much
To Expect
Healthcare salary is one of the main reasons why it attracts many business graduates. Know the salary in
different states and factors affecting it.
Working as a healthcare administrator has many perks. In addition to offering a handsome annual salary
and other benefits, it also offers some lucrative opportunities. In 2014, there were 333,000 healthcare
administrators. This is expected to increase by 17% from 2014-2024. Interestingly, this growth rate is
higher than that in any other sector. This article gives you an insight of healthcare business salary and
how the salary is affected by location.
Healthcare administrators are also known by other names. For example, medical and health services
managers or healthcare executives.
Who Are Medical and Health Service Managers?
As the name suggests, they are the managers in the health care arena. Meaning, they perform various
managerial tasks. For example, planning, directing and coordinating medical services. While some may
take care of an entire medical facility, some may manage a department or some specific areas of the
facility.
In any case, they should keep themselves updated on the matters related to health services. These
include regulatory aspects of health, healthcare laws, and health technology advancements.
To work as a medical and health services manager, you should have at least a bachelor’s degree in
management. However, having an MBA would give you a better pay. Some healthcare administrators
who are AAPC certified may also get better opportunities.
Types of Medical and Health Service Managers
● Nursing home administrators. They work in nursing homes. Their major duties are to manage
other staffs, admissions, financial activities, and look after the building. Moreover, the nursing
home administrators should take care of all the residents in their facility and ensure the delivery
of high-quality health services. To be eligible for the position, one must fulfill the licensing
requirements. Different states have different criteria for issuing the license.
● Clinical managers. They supervise the activities in a particular department. For example, nursing,
surgery, or physical therapy. Their responsibilities are determined by the specialty. Major
responsibilities include setting goals and policies for the department. In addition, they also
assess their staff’s quality of work. Based on their performance, the clinical managers develop
reports and allocate budgets.
● Health information managers. Their work mainly focuses on maintaining the accuracy and
completeness of patient records and data. Also, they should take proper security measures to
protect patient data. For this reason, they need to stay updated with current trends in data
management. Since data management is a complex process, it is very important that they use
the latest technology. Such a practice helps them ensure that the databases are not accessible
to unauthorized persons such as hackers.
● Assistant administrators. They work under direct supervision of the top level administrators and
participate in day-to-day decision-making processes. Moreover, their other duties include
directing activities in various departments of the facility. In some cases, they may also perform
administrative tasks. For example, keeping a record of the supplies and status of the equipment.
What Are The Duties and Responsibilities of Medical and Health Service Managers?
The major duties and responsibilities of medical and health service managers include:
● Ensuring efficiency at delivering high-qualityhealthcare services.
● Setting both short-term and long-term goals and objectives for the concerned department.
● Updating with the changes in the healthcare lawsand making sure their department or
organization fully comply with the existing laws and regulations.
● Managing the human resources in the organization. This includes selecting the right candidates,
training them, and assessing their performance.
● Managing the organization’s financial activities including patient fees and billing.
● Preparing a detailed work schedule for other staffs in the facility.
● Evaluating the organization’s budget and expenses.
● Participating in investor or board meetings as the representative of the organization.
● Establishing a professional relationship with the staffs and heads of other departments through
an effective communication.
Healthcare Business Salary: Know How Much It
Offers
The median pay for medical and health services managers was $96,540 per year in 2016. (Source: The
US Department of Labor, Bureau of Labor Statistics)
However, reports suggest the healthcare business salary could dip as low as $51,000 per year while the
highest salary could go up to $144,000 per year.
Factors That Determine Healthcare Business Salary
A number of factors determine the salary difference such as experience level and degree of
responsibility. Moreover, if you work in a large facility, you can expect to get paid higher.
According to the Medical Group Management Association (MGMA), working in a facility with 30 or more
employees could give you $150,000 per year on average. Depending on the company policies, you may
also receive bonuses.
Likewise, your salary may be affected by location. Let’s take an example,
California, New York, and Texas are the top three states that employ the most numbers of healthcare
administrators. There are 33,160 administrators in California whereas New York and Texas have 26,010
and 21,840 respectively.
But the highest salary is offered in New York at $135,640 per year. This is followed by California and
Texas with $$122,800 and $104,740 respectively. (Source: The US Department of Labor, Bureau of Labor
Statistics)
As per the industry reports, the following states offer the highest healthcare business salary:
● Washington D.C
● Massachusetts
● Rhode Island
● New Jersey
● New York
Want To Know More?
To learn more about healthcare business salary, visit www.FindaTopDoc.com. Also, gain unlimited
access to a myriad of other benefits. Readers can find evidence-based health information with just a
click. Driven by the aim to provide authentic information about diseases, drugs, supplements, medical
procedures, and lifestyle tips to all its visitors, FindaTopDoc.com and CEO Anthony Casimano allow
visitors to read about the best doctors locally. Readers can choose the doctor that best meets their
unique health needs, and request to schedule an appointment instantly.

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Healthcare business salary

  • 1. Healthcare Business Salary: How Much To Expect Healthcare salary is one of the main reasons why it attracts many business graduates. Know the salary in different states and factors affecting it.
  • 2. Working as a healthcare administrator has many perks. In addition to offering a handsome annual salary and other benefits, it also offers some lucrative opportunities. In 2014, there were 333,000 healthcare administrators. This is expected to increase by 17% from 2014-2024. Interestingly, this growth rate is higher than that in any other sector. This article gives you an insight of healthcare business salary and how the salary is affected by location. Healthcare administrators are also known by other names. For example, medical and health services managers or healthcare executives. Who Are Medical and Health Service Managers? As the name suggests, they are the managers in the health care arena. Meaning, they perform various managerial tasks. For example, planning, directing and coordinating medical services. While some may take care of an entire medical facility, some may manage a department or some specific areas of the facility. In any case, they should keep themselves updated on the matters related to health services. These include regulatory aspects of health, healthcare laws, and health technology advancements. To work as a medical and health services manager, you should have at least a bachelor’s degree in management. However, having an MBA would give you a better pay. Some healthcare administrators who are AAPC certified may also get better opportunities. Types of Medical and Health Service Managers ● Nursing home administrators. They work in nursing homes. Their major duties are to manage other staffs, admissions, financial activities, and look after the building. Moreover, the nursing home administrators should take care of all the residents in their facility and ensure the delivery of high-quality health services. To be eligible for the position, one must fulfill the licensing requirements. Different states have different criteria for issuing the license. ● Clinical managers. They supervise the activities in a particular department. For example, nursing, surgery, or physical therapy. Their responsibilities are determined by the specialty. Major responsibilities include setting goals and policies for the department. In addition, they also assess their staff’s quality of work. Based on their performance, the clinical managers develop reports and allocate budgets. ● Health information managers. Their work mainly focuses on maintaining the accuracy and completeness of patient records and data. Also, they should take proper security measures to protect patient data. For this reason, they need to stay updated with current trends in data management. Since data management is a complex process, it is very important that they use the latest technology. Such a practice helps them ensure that the databases are not accessible to unauthorized persons such as hackers. ● Assistant administrators. They work under direct supervision of the top level administrators and participate in day-to-day decision-making processes. Moreover, their other duties include
  • 3. directing activities in various departments of the facility. In some cases, they may also perform administrative tasks. For example, keeping a record of the supplies and status of the equipment. What Are The Duties and Responsibilities of Medical and Health Service Managers? The major duties and responsibilities of medical and health service managers include: ● Ensuring efficiency at delivering high-qualityhealthcare services. ● Setting both short-term and long-term goals and objectives for the concerned department. ● Updating with the changes in the healthcare lawsand making sure their department or organization fully comply with the existing laws and regulations. ● Managing the human resources in the organization. This includes selecting the right candidates, training them, and assessing their performance. ● Managing the organization’s financial activities including patient fees and billing. ● Preparing a detailed work schedule for other staffs in the facility. ● Evaluating the organization’s budget and expenses. ● Participating in investor or board meetings as the representative of the organization. ● Establishing a professional relationship with the staffs and heads of other departments through an effective communication. Healthcare Business Salary: Know How Much It Offers The median pay for medical and health services managers was $96,540 per year in 2016. (Source: The US Department of Labor, Bureau of Labor Statistics) However, reports suggest the healthcare business salary could dip as low as $51,000 per year while the highest salary could go up to $144,000 per year. Factors That Determine Healthcare Business Salary A number of factors determine the salary difference such as experience level and degree of responsibility. Moreover, if you work in a large facility, you can expect to get paid higher. According to the Medical Group Management Association (MGMA), working in a facility with 30 or more employees could give you $150,000 per year on average. Depending on the company policies, you may also receive bonuses. Likewise, your salary may be affected by location. Let’s take an example,
  • 4. California, New York, and Texas are the top three states that employ the most numbers of healthcare administrators. There are 33,160 administrators in California whereas New York and Texas have 26,010 and 21,840 respectively. But the highest salary is offered in New York at $135,640 per year. This is followed by California and Texas with $$122,800 and $104,740 respectively. (Source: The US Department of Labor, Bureau of Labor Statistics) As per the industry reports, the following states offer the highest healthcare business salary: ● Washington D.C ● Massachusetts ● Rhode Island ● New Jersey ● New York Want To Know More? To learn more about healthcare business salary, visit www.FindaTopDoc.com. Also, gain unlimited access to a myriad of other benefits. Readers can find evidence-based health information with just a click. Driven by the aim to provide authentic information about diseases, drugs, supplements, medical procedures, and lifestyle tips to all its visitors, FindaTopDoc.com and CEO Anthony Casimano allow visitors to read about the best doctors locally. Readers can choose the doctor that best meets their unique health needs, and request to schedule an appointment instantly.