Healthcare Management Careers: Scope, Jobs & Salaries Unveiled (2024)

Table of Contents

What is Healthcare Management?

Healthcare Management includes managerial roles that direct organisational policies and procedures and improve treatment options. Although they are not directly involved in patient care, Healthcare Management Specialists consider the wider picture to ensure that services benefit patients and give staff more authority.

Healthcare Managers are responsible for maintaining the proper operation and community service of healthcare institutions, including hospitals, clinics, and physician offices. They guarantee that patients receive the finest care possible and that the institution runs efficiently.

The earning potential is very high for careers in Healthcare Management. Healthcare Management offers the chance to positively impact people’s lives if you are interested in the medical industry but prefer to avoid clinical work.

Scope of MBA in Healthcare Management

Opportunities for employment in the Healthcare Insurance, Healthcare IT, and Hospital Administration sectors are abundant for people with an MBA in Healthcare Management.

Over the past ten years, the Healthcare industry has expanded significantly, increasing demand among the country’s youth.

According to a report byIIHMR, when it comes to size, the Indian Healthcare Market ranked sixth in the world in 2014. As per the India Brand Equity Foundation (IBEF), the Healthcare sector in India has a market value of approximately $110 billion as of 2016.

The industry’s incremental growth is anticipated to accelerate at a rate of 22.87% during the next several years. Thanks to the nation’s highly skilled medical workforce, affordable healthcare, and advanced diagnostic services, India’s rapid expansion is expected to augment the range of healthcare services offered there and create favourable prospects for growth in the years to come.

Skills Required for Healthcare Management Job Roles

Technical Skills:

BudgetingQuality Assurance and Control
Staff ManagementProject Management
Financial AnalysisStrategic Planning
Data Analysis and InterpretationDecision Making

Soft Skills:

CommunicationTeamwork and Collaboration
Problem-Solving and Critical ThinkingSelf-Awareness
Resilience and Stress ManagementLeadership
AdaptabilitySocial Awareness

List of Top Jobs after Healthcare Management Degree with Salaries

Sl#Professional ScopeAverage SalaryHighest Salary
1Hospital Administrator₹6,00,000 – ₹12,00,000Up to ₹24,00,000
2Hospital Financial Manager₹13,60,000 – ₹20,40,000Up to ₹36,00,000
3Healthcare Consultant₹4,80,000 – ₹9,60,000Up to ₹18,00,000
4Healthcare Marketing Manager₹4,20,000 – ₹9,00,000Up to ₹21,00,000
5Public Health Administrator₹4,80,000 – ₹9,60,000Up to ₹18,00,000
6Healthcare IT Manager₹4,50,000 – ₹9,00,000Up to ₹15,00,000

Source:Health Management Job Salaries

1. Hospital Administrator

Organising and supervising the medical services and day-to-day operations of a hospital or healthcare facility will be your responsibility as a Hospital Administrator. Among other things, you will oversee proper patient care, manage personnel and finances, and liaise with other departments.

  • Average Salary- ₹6,40,000 Per Year
  • Highest Salary- ₹24,00,000 Per Year

2. Healthcare Financial Manager

The main duties of a Healthcare Financial Manager are to prepare, examine, and present financial statements for either the entire company or just a certain department. They analyse data to provide senior management at the site with recommendations on how to increase income. They supervise the financial aspects of clinical procedures, including insurance payment, and guarantee adherence to legal reporting requirements.

  • Average Salary- ₹20,00,000 Per Year
  • Highest Salary- ₹36,00,000 Per Year

3. Healthcare Consultant

As a Healthcare Consultant, your role would be to assess current procedures, provide expert counsel, and offer direction on how to enhance them while cutting expenses and raising patient standards. A Healthcare Consultant can provide invaluable knowledge and training to address organisational obstacles and enhance service delivery because of their background in the medical field.

  • Average Salary- ₹5,70,000 Per Year
  • Highest Salary- ₹18,00,000 Per Year

4. Healthcare Marketing Manager

Your major responsibilities as a Healthcare Marketer in a medical practice are to draw in new patients and keep existing ones loyal. Public education on modern medicine is one of your duties as an employee of a government agency.

  • Average Salary- ₹4,20,000 Per Year
  • Highest Salary- ₹21,00,000 Per Year

5. Public Health Administrator

As a Public Health Administrator, your responsibilities include supervising other leadership departments within the organisation, managing the organisation’s budget, helping to design and run treatment programmes, and maintaining a high degree of quality health standards.

  • Average Salary- ₹4,20,477 Per Year
  • Highest Salary- ₹20,00,000 Per Year

6. Healthcare IT Manager

Your responsibility as a Healthcare IT Manager is to oversee all day-to-day activities of the information services and technology department, such as the help desk, data centre operations, network and telecommunications operations, daily coordination with application and technology vendors, and end-user computers and devices.

  • Average Salary- ₹6,00,000 Per Year
  • Average Salary- ₹15,00,000 Per Year

Best Institutes for Online MBA in Health Management & Related Programmes

Universities Offering MBA in Healthcare ManagementProgramme Fee
Jain UniversityINR 1,70,000
Centre for Online Learning, D.Y. Patil Deemed To Be UniversityINR 1,70,000
Directorate of Distance Education, Suresh Gyan Vihar UniversityINR 80,000

Conclusion

As you embark on your Healthcare Management journey, remember that you are not just navigating numbers and regulations. You are building a bridge between patients and the finest care, between skilled professionals and efficient operations. The future of healthcare rests in the hands of passionate, decisive, and empathetic leaders like you. So, step into the role of Hospital Administrator, orchestrate the symphony of healthcare, and leave your mark on the world, one life healed at a time.

Healthcare Management Careers: Scope, Jobs & Salaries Unveiled (2024)

FAQs

Why choose healthcare management as a career? ›

Healthcare management is critically important when it comes to keeping healthcare facilities, such as hospitals, running smoothly and safely. Healthcare managers are responsible for keeping the medical industry moving smoothly, and effectively. This means patients receive better and more efficient care.

What is the highest salary in healthcare management? ›

List of Top Jobs after Healthcare Management Degree with Salaries
Sl#Professional ScopeAverage Salary
1Hospital Administrator₹6,00,000 – ₹12,00,000
2Hospital Financial Manager₹13,60,000 – ₹20,40,000
3Healthcare Consultant₹4,80,000 – ₹9,60,000
4Healthcare Marketing Manager₹4,20,000 – ₹9,00,000
2 more rows
Jan 18, 2024

Is a certificate in healthcare management worth it? ›

The Value of Certification

A certification like the CMM that requires both experience and proof of knowledge can ultimately position you for broader job opportunities and a higher salary. “The CMM is well worth having because it can change the trajectory of your career,” Bennett says.

Is a healthcare management degree worth it? ›

Considering the projected job growth, career advancement opportunities, earning potential, and the development of essential skills, pursuing a master's in healthcare administration can be a worthwhile investment.

Why did you choose a career in healthcare answer? ›

Helping Others – Working in healthcare means that you can make a direct impact on people's lives by providing care and support. Working in healthcare is one of the most rewarding professions out there. The opportunity to help others and make a direct impact on their lives is truly special.

What do you learn in healthcare management? ›

A master's degree in Healthcare Management may include course work in healthcare policy and law, marketing, organizational behavior, healthcare financing, human resources, and other healthcare topics and prepares the student for top levels of management.

What is the highest paying job in healthcare management? ›

Top 10 Highest Paying Healthcare Administration Jobs 2024 (Inc Salaries)
  1. Medical Director. ...
  2. Hospital Chief Executive Officer (CEO) ...
  3. Healthcare Chief Information Officer (CIO) ...
  4. Hospital Chief Financial Officer (CFO) ...
  5. Chief Nursing Officer. ...
  6. Clinical Informatics Manager. ...
  7. Ambulatory Care Director. ...
  8. Nursing Home Administrator.

How to make 6 figures in healthcare administration? ›

Are you ready to earn six figures in the health administration industry?
  1. Hospital Administrator. ...
  2. Medical and Diagnostic Lab Administrator. ...
  3. Pharmaceutical Product Manager. ...
  4. Out-Patient Care Administrator. ...
  5. Specialty Hospital Administrator. ...
  6. Skilled-Nursing and Assisted-Living Facility Administrator.
Sep 16, 2020

Do you make a lot of money in healthcare management? ›

The need for effective healthcare management is reflected in current national data. For example, medical and health services managers with a bachelor's degree and less than five years of relevant experience earned an annual median salary of $110,680 as of 2023, according to the Bureau of Labor Statistics (BLS).

What degree is best for healthcare management? ›

Some common undergraduate degrees held by health care management professionals include:
  • Bachelor's of Science (BS) in Health Care Management.
  • BS in Health Care Administration.
  • BS in Health Information Management.
  • BS in Nursing (BSN)
  • BS/BA in Social Work (BSW)
  • BS/BA in Public Health.
Jul 15, 2024

What healthcare certification pays the most? ›

What healthcare certification pays the most? Average salary varies depending on geographic location and other factors, but overall, the highest paying healthcare job that you can land with a certificate is medical billing and coding.

Is healthcare management a hard major? ›

Earning your degree in healthcare administration really isn't any more difficult than any other potential field of study. Just like any other program, you'll run into some elements of healthcare administration that are complex, but you may also find some of it to be relatively intuitive, or even easy.

How do you know if healthcare management is right for you? ›

As a healthcare administrator, you're often managing multiple tasks at once, which requires you to be detail-oriented and a good multitasker. Other important skills to have include problem solving, budgeting, goal development, organization and communication.

Is healthcare management a stressful job? ›

Emergency Situations and Crisis Management

Healthcare is an industry where emergencies are a norm rather than an exception. Healthcare Administrators often find themselves at the helm during crises, which can lead to extended work hours and heightened stress, significantly impacting their personal lives and well-being.

What is the demand for healthcare management in the US? ›

Job Outlook

Employment of medical and health services managers is projected to grow 29 percent from 2023 to 2033, much faster than the average for all occupations. About 61,400 openings for medical and health services managers are projected each year, on average, over the decade.

Why choose health information management as a career? ›

Why Choose Health Information Management as a Career? Health information management professionals work at the intersection of healthcare, technology, and business. While electronic medical record (EMR) systems are no longer novel, the way we collect, use, store, access, share, and protect data continues to evolve.

Why do I want to go into healthcare administration? ›

Make an Impact on Patient Care

Although healthcare administrators may not provide direct patient care, their work significantly impacts patient well-being and patient experience. Many students in our program currently work in patient care and desire to have a greater impact by transitioning to administration.

Why do I want to be a healthcare leader? ›

Healthcare leaders have a sense of social mission; they care deeply about the people they work with and serve. And hospitals and healthcare organizations provide ideal opportunities for those who want to do well by doing good.

Why do I want my masters in healthcare administration? ›

An MHA gives you the opportunity to grow and practice these skills as you gain a deeper understanding of how healthcare organizations operate. Critical problem solving: Every decision a healthcare administrator makes has a real impact on people's lives.

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