Hottest Healthcare Management & Administration Fields
Some Of The Hottest Healthcare Management & Administration Fields For 2015
Healthcare is an industry that will continue to grow and thrive even when a country goes through an economic downturn. And, when the economy settles down again, the rate of hiring new professionals is alarming. Added to this is the fact that we have an aging population and the fact that healthcare is advancing and we are seeing unprecedented growth. The baby boomers are getting older, Generation X is having children and children are growing into adults. All of these are leading to a 22% growth in the field of healthcare, equating to 3.2 million new jobs over the next two years. Healthcare management and healthcare administration are two fields that are seeing above average growth, and then particularly so in specific jobs.
Healthcare is always a hot political topic and any new laws impact all of society. Since the Affordable Care Act has been put into place, many things have changed as well. The changes are particularly noticeable for those in health care administration, however, as the new legislation includes a legal framework for how the industry needs to be managed. As such, the hottest fields for healthcare management & administration are mainly in relation to this framework. Let’s take a closer look.
More Coverage Means Higher Demand
We know that the industry is growing. Some 4 million people are employed by hospitals currently and, in 2008, some 135,000 new employees were added. This was at the height of the recession, when most people were worried about their jobs. Additionally, some 30 million more people suddenly have access to healthcare thanks to the Affordable Care Act.
According to The American College of Financial Services, there is going to be a very strong focus on finances in health care. This will also result in better salaries overall. Hence, one of the hottest fields in healthcare management and administration for this year is in the financial field. Nevertheless, higher salaries should be experienced in all fields of the health industry, simply because demand is also on the rise.
Another highly important area is in hospital records. The goal has always been to improve integrated working by making available electronic records across the industry. The new legislation is accelerating how responsible institutions have to be when it comes to maintaining their patient records. Additionally, we are transitioning into a uniform electronic record-keeping method. This will cause some teething problems at first, but will end up creating better working methods overall, particularly for those with healthcare management and administration degrees.
Diversity Will Rise
Healthcare delivery is becoming increasingly complex. The traditional doctor-nurse model has long ceased to exist, and there are now various other types of staff members as well. Those with healthcare management and administration degrees will be ready to manage everybody from housekeeping to technicians. This will also continue to change and become more sophisticated.
The healthcare administrator is the true backbone of the system overall. You will oversee all of the medical personnel, and deal with the structure and financing of the industry itself. You need to be highly adaptable, as your job will change regularly together with the industry. Demand is on the increase as well, so it seems that administrators are not just here to implement the Affordable Care Act, but rather they are here to stay.
The other specific field people with a healthcare management & administration degrees can get to work in is healthcare informatics. This is where you will be responsible for the full electronic records of any patient that comes to the facility for which you work. These records have to be fully organized and they also have to be fully confidential. This is made more difficult due to integrated working, for which online technology is used, leaving the system open for hacking and other forms of abuse. In this field, you can expect to earn up to $51,150 per year and there is set to be a 20% growth over the next two years.
As you can see, there are many hot healthcare management and administration fields out there. The reality is that someone with this specialization, which is generally achieved through an MBA, will be in high demand across the industry as a whole. Furthermore, they are needed across the full spectrum of the healthcare industry.