How Much Do Healthcare Administrators Make?
The average annual salary for healthcare administrators, as reported by the Bureau of Labor Statistics, stands at $116,380. This figure is more than double the average salary for all jobs in the United States.
In the field of healthcare administration, you can start your career with an associate or bachelor’s degree. However, those who hold advanced degrees like an MSN or MBA tend to earn higher incomes.
Struggling to meet your deadline?
Get your assignment on How Much Do Healthcare Administrators Make? done by certified MDs and PhDs in the USA. ORDER NOW!
How to Become a Medical Assistant: Step-by-Step Guide
Salary Averages for Healthcare Administrators
Salaries in healthcare administration can vary based on the level of education and experience:
– Associate Degree: $46,000
– Bachelor’s Degree: $63,610
– Master’s Degree: $77,760
– Doctorate Degree: $95,340
Source: Data from PayScale and CareerOneStop (a part of the U.S. Department of Labor)
Impact of COVID-19 on Healthcare Administration Salaries and Jobs
The COVID-19 pandemic shed light on the challenges within the U.S. healthcare system, leading to increased stress and burnout among healthcare professionals. While much attention has been given to the struggles of clinicians like doctors and nurses, all healthcare staff, including administrators, have been affected. As a result, healthcare administration salaries may rise due to the growing demands on staffing and administration.
Top-Paying and Bottom-Paying States for Healthcare Administrators in 2020, by Educational Degree
In Washington, D.C., there is a high demand for healthcare administrators, coupled with a high cost of living, which results in higher average salaries for these professionals. On the other hand, Arkansas has lower demand for healthcare administrators, and in most areas, a lower cost of living, leading to lower salary ranges.
Comparing Salaries for Healthcare Administrators Based on Role and Degree
The level of your degree can have a significant impact on your healthcare administration salary. The chart below outlines the minimum degree necessary for various healthcare administration careers. Having an advanced healthcare degree or an MBA in healthcare administration typically results in a higher salary compared to having only an associate degree.
| Role | Degree (Associate/Bachelor’s) | Average Salary |
|---|---|---|
| Medical Coders and Billers | Associate | $43,880 |
| Hospital CEO | Bachelor’s | $155,900 |
| Medical Secretary | Bachelor’s | $38,150 |
| Health Office Managers | Bachelor’s | $56,730 |
| Medical Transcriptionists | Associate | $35,180 |
| Degree | Highest Paying State | Lowest Paying State |
|---|---|---|
| Associate/Bachelor’s | Washington, D.C. | Arkansas |
| Graduate | Washington, D.C. | Arkansas |
In many high-level healthcare administration positions, having a master’s degree or even a higher-level degree is a prerequisite for being considered for employment. In the field of healthcare administration, your degree could fall into different categories. It might be a clinical degree like an MSN (Master of Science in Nursing) or an M.D. (Doctor of Medicine), a research-focused degree like a Ph.D. (Doctor of Philosophy), or an administrative degree such as a Master of Business Administration (MBA) or Master of Healthcare Administration (MHA). Obtaining a graduate degree and gaining experience in the healthcare sector can equip you with the qualifications needed for roles in government, hospitals, healthcare systems, healthcare management, or with other healthcare providers and suppliers.
| Role | Degree (Graduate) | Average Salary |
|---|---|---|
| Regulatory Affairs Director | J.D. (law), MBA, MSN, MHA (health administration), other master’s or doctoral | $145,180 |
| Hospital CEO | MBA, Ph.D., M.D., MSN, MHA, DNP | $155,900 |
| Clinical Informatics Manager | MBA, MEng (engineering), MHA, MSN | $95,750 |
| Nursing Home Administrator | MSN, DNP, MBA, MHA | $92,580 |
| Healthcare Consultant | MBA, MSN, MHA | $79,000 |
| Clinical Director | M.D., MSN, MHA, DNP | $79,190 |
There are several ways to boost your income as a healthcare administrator. If you are a nurse or nursing administrator, you can enhance your earnings by assuming more responsibilities or obtaining specific certifications or advanced degrees. Additionally, you can explore higher-paying specializations or seek positions in areas where salaries are higher and the cost of living is lower.
The more you demonstrate your worth to your organization, the better your ability to negotiate for a higher salary.
Here are some frequently asked questions about healthcare administrator salaries:
1. What does a healthcare administrator do daily?
The daily tasks of a healthcare administrator can vary based on their specific role and the setting in which they work. Their responsibilities may include strategic planning and execution, managing operations and functions, budget planning and management, addressing staffing needs and issues, and evaluating and improving organizational performance. Qualified healthcare administrators should possess organizational and collaborative skills, exercise foresight, and be capable of analyzing and acting upon continuously changing information.
2. Can a healthcare administrator become a nurse?
While it is more common for nurses to transition into healthcare administration after gaining experience in a healthcare setting, it is possible to move from healthcare administration to nursing. To become a nurse, you would typically need a minimum of an Associate Degree in Nursing (ADN), although many positions prefer or require a Bachelor of Science in Nursing (BSN). You must also pass the NCLEX-RN examination. Some of your previous education and experience in healthcare administration may be applicable to your nursing degree.
3. How much do entry-level healthcare administrators make?
Entry-level salaries for healthcare administrators can vary depending on their degree and any related experience. According to PayScale, healthcare administrators with less than one year of experience earn an average annual salary of $58,320. However, individuals with a master’s degree or clinical experience can typically expect higher starting salaries.
4. What is the difference between nursing administration and healthcare administration?
Nursing administration is a more specialized field focused on overseeing the performance of nursing teams within a hospital or healthcare setting. Most nurse administrators are licensed nurses with a nursing background. On the other hand, healthcare administration encompasses a broader spectrum of responsibilities, including technology, legal matters, staffing, office functions, regulatory compliance, and more. Healthcare administrators come from diverse backgrounds, which can include nursing, but they are responsible for managing various aspects of healthcare operations.
Dont wait until the last minute.
Provide your requirements and let our native nursing writers deliver your assignments ASAP.