Administration in healthcare services is an evolving trade to maintain the modern standard of the medical facilities. If you want to gain your ground in this industry, you need to abreast with the latest development and clear fundamental knowledge. If you elevate yourself above the basic degree of bachelor’s studies, you can secure a promising career in this profession. A master’s degree with a year of experience can give you a clear stretch for smooth takeoff of your career move. Master’s degree in healthcare management can give you enough resources to plan your strategic moves of your profession. The master’s program will take 2 years to 3 years of your time.
Positive projection ahead
As the projected job growth is healthy with 23% projected escalation of job by the year 2022, you can safely invest your time and money to earn the master program in healthcare administration. With your degree in master health administration, salary you can expect at the entry level will be approximately $53,940 annually. However, as you advance yourself to the higher limit, you can earn up to $150,560 annually. Nevertheless, the average annual salary in this profession is $88,580. You can count on the present industry report, where it clearly states that, owing to the growth of this profession, over 300,000 medical professionals have opted for the medical administrative services.
Navigating career earning
While plotting your career map, you may target certain areas in this profession, to yield the maximum out of it. For instance, if you join as the hospital manager, there will be a fair chance of being absorbed. At least 39% movements are indicated to the hospital section of public private, and government authorities. In doctors’ offices, there is 9% of chances, nursing home holds 7% chances, healthcare facilities 6% and outpatient centers hold 5% of room to career through. In addition, you can earn based on the number of doctors you are practicing with. As per the Medical Group Management Association, if it is 6 doctors or fewer, annual healthcare administration salary will be $87,862, in case of 7 to25 doctors, it will be $126,478 annually, and if you practice with 26 or more doctors, your salary will be $148,604 annually.