7 Reasons to Get a Healthcare Administration Degree (ASAP)
March 10, 2021
Just a few of the high-earning healthcare administration jobs out there? Director of operations ($101,000 per year), executive director ($88,000), nursing director ($106,000), and CEO ($171,971).
If you're interested in the organizational and support side of the healthcare industry, a _master's in healthcare administration (MHA degree)_ is a versatile qualification that opens many doors. But before we explain the benefits of an MHA degree, let's start with why the healthcare industry is worth (serious) consideration.
First: There are currently more jobs in healthcare than any other employment sector in the United States. Last year, the number of healthcare jobs officially surpassed both retail and manufacturing—the previous kings of the hill, and as an aging U.S. population requires increasing levels of care, the healthcare job market is only expected to grow.
The Bureau of Labor Statistics predicts that one-third of all new jobs created by 2026 will be in healthcare and social assistance, representing 14 percent of all U.S. employment. Even better? The _average healthcare administration salary is $98,350_ per year, with the highest 10 percent of workers earning upwards of $176,000 annually.
The healthcare job market is rich with opportunity, not only for direct medical care and service providers but also for positions in healthcare administration and management. Healthcare administrators find leadership roles in business strategy, ensuring hospitals and other large healthcare organizations operate efficiently while maintaining the highest possible level of service. With an MHA degree, you’ll develop expertise in key areas of management, preparing you for healthcare administrative jobs with many different kinds of institutions and agencies.
If you’re a natural-born leader with an interest in healthcare, you’re smart to consider a master’s in healthcare. Here are seven big benefits of an MHA degree.
1. You’ll have abundant career options. An MHA degree prepares you for an impressive number of healthcare jobs—like being a quality management director at a hospital, a nursing home administrator, and a medical practice manager, among others. People with their master’s in healthcare administration are qualified for everything from high-profile, C-level positions to technical management roles.
2. The possibilities are endless. While it’s obvious that a master’s in healthcare administration will help you find… healthcare jobs… there are many healthcare administration careers that might surprise you. For example, an MHA degree prepares you to work in healthcare IT and insurance underwriting, or as a patient health advocate, and even overseas with an international public health organization.
3. You’ll land in a variety of work environments. Healthcare administrators work in hospitals, physicians’ offices, nursing and residential care facilities, outpatient care centers, and government agencies, to name just a few. If you’d rather work in an office than a hospital, healthcare administration will allow you that flexibility.
4. The average healthcare administration salary is strong. According to PayScale, people with an MHA degree earn an average salary of $76,000 per year, and the average healthcare administrator salary is $67,000 (ranging from $42,000 to $110,000, depending on where you live and your level of experience). Other high-earning healthcare administration careers include director of operations ($101,000), executive director ($88,000), nursing director ($106,000), and CEO ($171,971).
5. You’ll never have to worry about finding a job. Because the healthcare industry is growing so quickly, there will be no shortage of healthcare administration jobs in the years to come. In fact, the Bureau of Labor Statistics predicts that job prospects for administrative services managers will increase 10 percent through 2026, a higher than average growth rate.
6. Your career will be meaningful. Just because healthcare administrators don’t wear stethoscopes doesn’t mean they don’t play an essential role in saving lives. The medical field would grind to a halt without skilled administrators and managers. Patients depend on these behind-the-scenes professionals to ensure everything runs smoothly towards the best possible care.
7. You’ll be at the center of innovation. The healthcare industry is on the cusp of big change. The digitization of health data is becoming standard practice, and new healthcare IT solutions are coming to market all the time. Innovation is accelerating, and healthcare administrators are leading these cutting-edge developments.
In summary, a master’s in healthcare administration is a growing job market offering incredible earning potential, robust career opportunities, and truly meaningful work. With an MHA degree, you’ll be positioned for serious leadership roles, with a front-row seat to boundary-breaking innovation. Sounds like a win-win-win.
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