Career Outlook for Master’s in Health Care Administration Graduates
As more jobs become available for doctors, nurses, and other clinicians in the rapidly growing health care industry, the need has also grown for qualified experts to take on leadership roles in a number of health care administrator careers.
Taking on these leadership positions requires a blend of business skills and health care industry knowledge — something students can learn in a quality master’s degree program. Business skills have become more necessary as health care comes under increased economic and regulatory pressures. The industry has also shifted to a “value-based” model that puts the emphasis on both efficiency and improved patient outcomes.
These changes have created an environment where professionals who want a health care administration career have many opportunities. Those with expertise in health care management strategies, as well as the knowledge to apply them in real-world situations, are extremely attractive job candidates.
The Demand for Health Care Administrators
The demand for health care administrators is clear from numbers provided by the federal government. Those numbers project a 20 percent increase in the number of health care administrators by 2026.
An aging U.S. population, along with more awareness of the value of preventive medicine, is partly fueling the need for more administrators, according to the U.S. Bureau of Labor Statistics (BLS).
The annual mean pay for a health care administrator position in May 2018 was $99,730, according to the BLS. In New York, that number is $143,340, second only to the District of Columbia in the entire country. In New York, the projected increase in health care administrators by 2026 is 22.3 percent, higher than the national average, according to Projections Central, which uses BLS data to make state-by-state job growth projections.
What You Learn in a Health Care Master’s Program
At Excelsior College, the Master of Science in Health Care Administration prepares graduates for leadership in many careers. Health Care Administration careers include leading a hospital or doctors’ clinics or leading a large department. It can also include running a health care clinic or becoming a vice president of a large health care operation.
Graduates are prepared to lead a health care facility in a civilian, military or Veterans Administration setting. The program offers graduates expertise in:
- Theory-based communications strategies
- Leadership strategies in the health care environment
- The principles of risk management and quality improvement
- Ethical standards in health care
- Analysis of contemporary issues impacting health care
Graduates learn leadership skills, including strategic planning, leveraging technology in a health care environment, managing conflict, building effective teams, and giving formal presentations.
A Challenging Future
In the 21st century, health care operations face complex challenges. Meeting those challenges requires leaders who understand the health care industry in all its detail. They also need to know the latest strategies, tools, and techniques needed to succeed in health care and how to apply them to real-world situations.
Those who earn a master’s degree prepare themselves to become that type of leader in a range of health care administrator careers. They have both an understanding of the health care industry as well as the business strategies needed to improve financial performance. In addition, graduates demonstrate a commitment to lifelong learning and achieving excellence in leadership within the health care industry.