Why Healthcare Managers are Leading Industry Change
The healthcare system as we know it is facing a pivotal change, and with it comes new leadership and growth opportunities for healthcare managers.
The healthcare system as we know it is facing a pivotal change, and with it comes new leadership and growth opportunities for healthcare managers. Hospitals and other healthcare facilities are focused on containing costs and integrating technology to deliver high-quality, yet efficient care, and are relying on managers to drive these changes.
According to the Bureau of Labor Statistics, the need for healthcare managers has increased, with job growth estimated at 17 percent in the next decade. Most healthcare managers work in hospitals or medical facilities, planning and directing health services for a department or group of physicians.
Healthcare managers must help their organizations adapt to changes in healthcare policy and new technology. Here are a few ways in which healthcare managers are planning for the future of the industry:
Reinventing the patient experience: In the past, patients were expected to listen to their healthcare provider and follow directions with little question or thought into their treatment. According to the Beryl Institute, are starting the view their patients as customers and are responding to their needs in a more effective way. Many of today’s healthcare managers believe the patient experience should be defined by quality, safety and service, regardless of the ailment or illness at hand. Creating a positive patient experience could mean a more personal, attentive approach to treatment and continued care. Healthcare managers must be vigilant in communicating new standards for patient care as well as making sure that physicians and other healthcare workers uphold the facility’s organizational mission and values.
Fixing the revenue cycle: As with any business, the revenue cycle is a vital component of organizational health. The current healthcare system is facing high costs and quality issues. In addition, fraud and abuse, medical errors, practice guidelines, and the timing of government payments all affect the revenue cycle of an organization. Some healthcare managers are moving their organizations toward a patient-centered system, changing the complex revenue cycle to one of value-based care.
Technology and innovation: Every year, there are many new technologies on the market for healthcare managers and providers to consider. Innovation in medical technology can help healthcare organizations improve existing practices and reduce costs. New technology does come with a hefty price tag, so healthcare managers need to consider current and future needs to determine which new products and systems will be best for the organization in the long run.
What do healthcare managers do?
Healthcare managers are responsible for planning and overseeing health services for a medical facility. Roles can fall into leadership or managed care, with an emphasis on the business side of healthcare. Learn more about how to become a healthcare manager.
A career in healthcare management: what you can do with a degree
There are many potential paths to a career in healthcare management. It’s a deep and growing field, and there are job opportunities across the spectrum for applicants with diverse educational qualifications. Potential job titles include:
Patient Service Representative
Health Insurance Manager
...among many others.
How much do healthcare managers make?
How much you can make depends on the specific roles and responsibilities within the medical facility, your education, prior experience and state where you work. According the 2018 data from the Bureau of Labor Statistics the average salary for healthcare managers was $113,730 per year ($54.68 per hour) across the United States. Discover the average healthcare management salary in your state.
Staying ahead of the curve
As the healthcare industry transforms, so must the leaders within the field. Healthcare managers need to be focused on the future, looking to see trends and upcoming changes within the healthcare system.
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* Bureau of Labor Statistics (BLS), U.S. Department of Labor, Occupational Outlook Handbook 2020. BLS estimates do not represent entry-level wages and/or salaries. Multiple factors, including prior experience, age, geography market in which you want to work and degree field, will affect career outcomes and earnings. Herzing neither represents that its graduates will earn the average salaries calculated by BLS for a particular job nor guarantees that graduation from its program will result in a job, promotion, salary increase or other career growth.