Here in this article, we will be taking a deep look at the residual income an health care administrator. How much does he/she make in a day, month or annually.
Funny enough, most of us don’t know the payment schedules of health administrators in the health care sector, but today we will highlights them for you to understand how it’s been carried out.
However, before we move down to the main point of concentration for today, let’s check few facts about an health administrators.
Who is an Health Administrator?
Just like business administrators whose duty are to oversee the daily running of the business’s, an health care administrator is vested with the power to look after the day to day administrative operation of an health care firm. It could be a clinic, pharmacy, Hospital, etc.
Anybody who is position as an health care administrator in the hospital is the one to plan and supervise the health care activities that are to be carried out by any medical staff in the hospital.
In general saying, this set of health workers ordered the operation of health organization and they are hardly found having a direct contact with patients.
They are often find communicating with doctors, nurses, surgeons, and technicians.
Truth be told, this guys have a whole lot of tasks to accomplish and that’s why you will see in some health care organizations that the health administrator manage the entire facility while some have the administrator managing a particular department of the facility.
NOTE: Be it that you are employed as an health administrator to manage the entire facility or focus on a particular department, you need to be conversant with both the state and federal laws, alongside ensuring that HIPAA laws are followed within your area of specialty and expertise.
What are the Responsibilities of an Health Administrator?
Nonetheless, the responsibilities of health administrators includes but not limited to; monitoring of budgets and incurred expenses (spending), as well as keeping upto date all health records of the hospital.
Development of work schedules for staffs and physicians, as well as management of the facility finances.
They manage patients fees and billings, as well as improving the facility efficiency and quality.
Another vital role of an health administrator is to make sure that the health care organizations works inline with all the laws and regulations guiding the health industry.
It’s also the duty of health administrators to Train staffs, as well as presenting investor meetings and meet with governing boards.
They are to have regular interaction with physicians and nurses.
As an health care administrator, you need the posses the following attributes;
1. You need to know how to manage a business properly, especially businesses in the health care industry.
2. You must know the ethics of Effectiveness communication. If you don’t know now, you can learn how to communicate verbally, and orally with people because COMMUNICATION tends to play a vital role in daily task as an health administrator.
3. You need to know how to work with a team and not work alone.
Yes, the position you are handling required that you work with a group of people who are referred to as team members in other to make a health facility a better choice.
4. As an health care administrator, you need to know how to organize things and people together inorder to achieve effective goals, and complete long term projects within a short period of time.
5. Importantly, as an health care administrator, you must know that patients mode doe swing oftentimes.
So, your ability to understand all aspects of patients care will play a great role in the facility.
Understanding matters alot.
6. Knowing how to budget large sum of dollars will definitely help in making profitable returns for the health care organization (Hospital)
7. As an health care admin, you are expected to take the firm to higher level.
So, learn to adapt to new techniques, learn new stuffs, and change goals in order to meet greater standards.
N/B: Get familiar with every necessary healthcare regulations, including the nuances of HIPAA laws, and you you must make the safety of your team members and staff a priority.
How Much Do Health Care Administrators Make?
From the best of our research and with reference to BLS, the average amount of money an health care administrator earns in a year is $104,280.
In further explanation, the highest earning health care administrator make literally $195,630 annually. The Lowest earning health care admin makes about $59,980 annually.
However, the amount of money an health care administrator make is influenced by some factors which includes; The location, years of experience, and industry.
The more experience the health care administrator earns, the more money he/she earns.
In addition to that, the level of qualification you have will also determine how much you will make. For instance, if you enter the industry as an health care administrator using your Bachelor’s degree (Bs.C) your are likely to earn less amount of money compared to someone who comes into the industry as an healthcare admin using his/her Master’s degree.
How to Become an Health Care Administrator
After reading about the juicy amount of dollars an health care administrator makes in a year, I know that most of you will like to become an health care administrator, but before you are opportune to become a working healthcare administrator, you must have a bachelor’s degree in healthcare management. While undergoing studies in this field of specialty, you will be thought business and healthcare fundamentals which will help you to understand the;
1. Daily operations
5. Communication formats.
All the inculcated knowledge are that which will be required for healthcare positions within medical facilities.
However, many employers do seek for candidates with advance qualification such as MBA in healthcare management or master of health leadership. Employers do believe that applicants with advance knowledge that will birth executive strategy, large-scale management, and leadership principles which are seen as the key for administration positions.
Also, most employers seek out for applicant with years of experience in an health care setting which they believe that someone with this experience are qualified to take on more leadership responsibilities in the organization.
If you have any suggestions or questions pertaining to health care administrator job role, do not hesitate to use the comments section below and our team will respond to you as soon as possible.