Healthcare Management Degree and Career

Health care management graduates manage medical institutions including health insurance companies, entire medical facilities, a specific hospital department or a group of medical doctors.

Health care management is somewhat different from healthcare administration. These two professions’ names are mostly used interchangeably, but the difference is in the duties; administrator will handle the medical staff and manager will run the healthcare organization.

What is the Difference between Healthcare Administration and Healthcare Management?

Although these two professions in healthcare may sound the same and their names may be used interchangeably, there are some differences between duties and tasks that professionals in the field of healthcare perform.

Some of the similar duties that they have are:

  • Work environment – Both healthcare administrators and healthcare managers work in medical centers such as hospitals and physician offices.
  • Administrative tasks – Both job positions may require managing hospital finances and the patients’ billing accounts as well as hospital records and maintaining staff schedules on a daily basis.
  • Skills requirement – In order to work as either a healthcare administrator or a healthcare manager, a person has to have strong organizational, analytical and communication skills. Also, both healthcare professions include a role of a leader within a medical institution.

Since they have different training on colleges, their duties vary in some aspects of healthcare systems.

While healthcare administrators coordinate and manage medical staff and their needs within a health institution, healthcare managers manage the entire medical facility.

Healthcare managers also work as a part of a human resources sector; they oversee the budget on a daily basis, manage demographic statistics and organize every level of a healthcare facility. In other words, the healthcare managers have more duties on their work place and are responsible for the overall performance of a medical institution whether it’s a hospital, clinic or a physician’s office.

What Are the Duties of a Health Care Manager?

Professionals in this medical area are also called healthcare administrators and healthcare executives. Their duties are to execute, plan, coordinate and direct health and medical services within a medical institution.

Health care managers’ responsibilities are to:

  • control the entire organization within a clinic or a hospital
  • manage the service operations
  • work closely with the HR (human resources) sector of the medical institution
  • oversee how the personnel functions

Healthcare executives also work on marketing and strategic plans together with the marketing department within a hospital.

Why Should a Student Choose a Program in Healthcare Management?

Healthcare Management Programs mostly offer education in theoretical knowledge, but some also offer practical knowledge that can be gained by joining professionals in the field of health management. Practical courses cover different areas of healthcare such as management of medical staff, deciding on administrative issues, providing the highest quality of medical services to a large number of patients and other.

These programs include courses in finance, research, project management, human resource management etc. Students will develop skills in leadership, management and analytics and will get training required for a leadership role in a healthcare institution.

They will be prepared to work in the healthcare system, to manage medical facilities and identify problems that can occur there as well as to find the solutions to the problems.

Students can obtain both undergraduate and graduate degrees by studying on colleges listed below:

Master of Health Science in Health Management

These programs include courses in finance, research, project management, human resource management etc. Students will develop skills in leadership, management and analytics and will get training required for a lead role in a healthcare institution.

They will be prepared to work in the healthcare system, to manage medical facilities and identify problems that can occur there as well as to find the solutions to the problems.

How High is the Cost of the Study?

When it comes to choosing a degree program that suits the interests of a student, one of the factors that can affect the choice is an annual tuition fee.

Annual cost of attendance varies on universities and colleges mentioned above. The lowest average annual tuition is $13,050 and the highest is $46,960.

Some colleges’ tuition fees vary depending on whether it’s an in state or out-of-state tuition fee. The average annual in state fees go from $5,351 to $10,100. When it comes to out-of-state students, the lowest tuition fee for them is $16,924 and the highest average tuition is $21,575.

There is also an option of applying for a scholarship that can help students pay the entire cost of study or a part of it.

What Jobs Can You Seek After You Graduate?

The level of demand for professionals in healthcare management is high. Healthcare Managers run hospitals’ finances, keep records of financial plans and billing, develop budgets, hire medical doctors and staff, analyze investments and market data and other. 

Some of the top careers and annual salaries in Healthcare Management are:

  • Hospital CEO (a Chief Executive Officer) $106,000
  • Hospital Administrator $82,000
  • Pharmaceutical Product Manager $90,000
  • Medical Practice Manager $79,000
  • Hospital CFO (a Chief Financial Officer) $106,000

Students that are interested in this medical field should keep in mind that the salaries depend on their responsibilities within the medical institution, their degree level as well as the level of their experience in healthcare management and the sector they work in (whether it’s private sector or one that is run by government).