Health care is a booming business, and not just for medical practitioners. According to the Bureau of Labor Statistics, health administration professionals are in high demand, with an expected job growth of 32 percent through 2029, greater than the average growth rate for all occupations.
For business-oriented leaders, health administration is a dynamic and lucrative career option. At the management level, the health services industry boasts a median annual salary of more than $100K. And there are so many careers to choose from! Medical and health services administrators work in a range of settings, including hospitals, private clinics, specialty care facilities, public health agencies, laboratories, insurance companies, and more. These high-earning professions allow ample opportunity for career advancement, particularly for those who hold a master’s in Health Services Administration (MS.HSA) or dual master’s degrees in Health Services Administration and Public Health (MS.HSA-MPH).
Are you ready to earn six figures in the health administration industry?
Here are 7 exciting and high-paying careers studying Health Services Administration and Public Health at Barry University can prepare you for.
Hospital Administrator
From managing high-level personnel to overseeing financial investments in surgical equipment, hospital administrators are tasked with all aspects of a hospital’s daily operations. Starting salaries for hospital administration vary, and location can make a big difference, as hospitals in major U.S. cities pay significantly more than those in rural areas.
Average annual salary: $122,460
Medical and Diagnostic Lab Administrator
Overseeing the business operations of a medical lab involves everything from procuring grant funding to establishing systems and processes to investing in critical equipment. Like all health care administration positions, the lab administrator must be a strong leader and collaborator with a keen eye for detail.
Average annual salary: $121,390
Pharmaceutical Product Manager
Applying your health-care administration skills inside a pharmaceutical company is a great way to immerse yourself in the development and advancement of drug therapies. Additionally, management positions typically earn more in this sector of the health care industry, with base salaries starting in the low six figures. So, there is plenty of room to grow!
Average annual salary: $138,434 (As reported by Comparably.com)
Out-Patient Care Administrator
Facilities specializing in out-patient treatments—including chemotherapy, diagnostic procedures and imaging, laparoscopy, weight management, dialysis, and more—require detail-oriented and financially savvy leaders who can oversee everything from budgets to clinical operations. The best administrators provide seamless and quality patient care while following industry, state, and federal regulations.
Average annual salary: $106,590
Specialty Hospital Administrator
For those with an interest in a particular arena of health care, administrative roles at specialty hospitals can be incredibly fulfilling. Specialty hospitals are exclusively focused on the care and treatment of specific conditions. Examples include cardiac, orthopedic, and women’s hospitals.
Average annual salary: $128,010*
*Excludes psychiatric and drug rehabilitation hospitals
Skilled-Nursing and Assisted-Living Facility Administrator
As our senior population ages, they’re investing more in their own health and wellness, increasing the demand for health administrators and executives in this sector. In fact, between 2018 and 2019 assisted-living administrators reported an average boost in salary of 3.6 percent!
Average annual salary: $100,622 (As reported by the Assisted Living Salary & Benefits Report)
Insurance Provider Network Executive
It might be a lesser-known field for advanced degree holders in Health Administration but working with an insurance company offers a competitive salary range and ample opportunity for growth. Whether you’re working with medical facilities to process claims or assessing coverage for customers, a career in the insurance field requires a comprehensive understanding of the health care industry. Salaries for health specialists start around $40K per year, but executives and directors earn well over six figures.
Median annual salary: $146,360 (As reported by PublicHealthOnline.com)
(All salaries sourced through the Bureau of Labor Statistic’s 2020 data unless otherwise noted)