5 Reasons Why Healthcare is a Hot Career Field
Healthcare occupations are considered among the best jobs for 2019 and beyond. Recently, Business Insider listed healthcare as one of the top industries for job security based on information from the Bureau of Labor Statistics (BLS).
What makes healthcare such a hot career field? There are a variety of factors, but for one, healthcare is among the fastest-growing occupational fields today, with 1.9 million new jobs expected by 2028, according to the BLS.
If you’re contemplating your next career move, consider these reasons to pursue a job in healthcare:
1. Employment in healthcare is booming
While the number of manufacturing jobs in the U.S. has declined – due in part to the rise of automation – healthcare and social assistance jobs have nearly doubled over the last two decades. In 2018, healthcare surpassed nearly every other major sector of the economy in job growth, including food services, construction, manufacturing, and retail, according to an analysis of BLS data. More than 16 million people worked in the healthcare sector at the end of 2018, accounting for almost 11% of all jobs.
2. Demand for healthcare services is on the rise
As the baby boomer population ages, there are significantly more elderly Americans in need of medical care and health services. Healthcare organizations are striving to accommodate a growing number of patients, and this is creating new opportunities for healthcare professionals in a variety of roles, including medical assisting and physical therapy assisting.
Many organizations are also incorporating new technologies to streamline their billing processes and keep track of patient information. As a result, there is also a growing demand for health information management and health administration professionals, such as medical coders, insurance billing specialists and more.
3. Many older healthcare workers are nearing retirement
Many baby boomers will retire in the coming years from the healthcare workforce, creating a wave of new job openings in the next decade. Younger, but experienced healthcare workers will have the opportunity to step into higher-paying leadership and management roles as older leaders retire.
According to a 2018 survey by the National Council of State Boards of Nursing and The Forum of State Nursing Workforce Centers, more than half of the registered nurse (RN) workforce is age 50 or older. The Health Resources and Services Administration has estimated that more than 1 million RNs will retire from the workforce by 2025. Workforce shortages in other healthcare sectors, such as physical therapy and dental assisting, also have been projected to create job growth in the next several years.
4. Healthcare workers earn a higher than average salary
A career in healthcare offers the opportunity to earn a higher salary than what’s offered in some other industries. According to the BLS, the median annual wage for healthcare practitioners and technical healthcare occupations was $66,440 in May 2018, significantly higher than the median annual wage for all occupations in the economy, which was $38,640.
An advanced degree is one way that healthcare professionals can continue to increase their earning power throughout their careers. For example, many registered nurses are returning to school to earn their bachelor’s degree in nursing (BSN) or master’s degree (MSN). By doing so, they can increase their employment prospects, earning potential and opportunities for advancement.
5. There are a variety of healthcare career paths to choose from
While doctors or nurses might be the first healthcare job titles that come to mind, there are many other healthcare-related occupations that are experiencing significant employment growth. Whether you’re interested in caring for patients directly, or working behind the scenes to improve the patient experience, there is a healthcare-related career for you.
Not all healthcare careers require a four-year degree either. For those looking to enter the field and begin earning quickly, there are many healthcare degrees you can earn in two years or less.
If you’re looking for a stable, secure career, healthcare is the place to start. Learn more about Herzing’s healthcare degree programs and explore the career opportunities that could be a good fit for you.