So you want to work on the business side of healthcare? That’s great! With baby boomers reaching retirement age and having an increase in medical needs the healthcare industry is booming; and it isn’t just the medical side of things that is in need of qualified professionals. Health administration offers a great career path for the business minded.
More Healthcare Shortages?
Many of us have already heard that the US is experiencing a shortage of nurses and other healthcare providers. Experts suggest that over half a million nurses will need to be trained and employed before 2018 in order to meet demands. The less heard story is that health administration is feeling the same pinch.
Healthcare administration is expected to experience a shortage of employees in the coming years as a result of a growing industry. This isn’t surprising given healthcare is one of the largest industries in the nation and that administrators work in a wide variety of fields within it. The Bureau of Labor Statistics estimates a 23 percent growth in this healthcare sector alone before 2022.
Decisions on Education
Perhaps the most difficult decision for many young people that are considering entering the field of health admin is deciding which type of professional degree to pursue in order to make it happen. Many must choose between obtaining a MBA or a MHA (masters in health admin). Often times people struggle with deciding which will be the best long-term choice.
According to RuthAnn Althaus, coordinator of the online MHA degree program at Ohio University, it comes down to long-term career goals. Her suggestions are that if you plan on staying in healthcare administration and moving up the ladder over the next 40 years the MHA is what you want. However, if you might later leave the healthcare industry for something else, it is probably best to go with the less specialized MBA.
The Health Admin Workplace
Healthcare administrations handle a lot of responsibilities related to the day to day operations of hospitals and other healthcare facilities. They are the team managers that employees are dependent upon to coordinate activities, balance budgets, and make sure hospital policies are upheld. Strong leaderships skills are a must.
Although the position isn’t exactly low stress, it is often highly paid. In fact, CNN and ranked the career and number 5 in the top careers in America. The job provides significant means to make an impact on the lives of hundreds of people through decisions regarding hospital policy and staff management. It also offers a great deal of variety, which many people indicate is a significant benefit to their job.
Hospitals generally are not thought of as centers of business. However they make up some of the largest and more profitable businesses in the US thanks in part to administrators that are running them. The business side of hospitals are in need of qualified professionals and choosing such a career path is a great direction.