High turnover rates and an aging population are just some of the reasons why there is an increase in the number of positions that are available in health care administration. If you are thinking about a career in this field, one of the things that you should take into consideration is the income you will make.
The incomes are higher for those who work in hospitals compared to those who work in residential and nursing care facilities. Some of the factors that play a significant role in determining the salaries include level of education, training, duties you are assigned to and the level of accountability that your position has. The geographical location and size of the facility that you work in will also influence how much you make. A health services manager in a nursing care facility will make an average salary of $66, 730 while one in a surgical or medical hospital makes about $78, 660.
Field specialization also influences the amount you make with some fields paying more than others. In a family practice, you will make about $60,040, $62, 125 in a pediatric facility, $67,222 in obstetrics and gynecology, $70,599 in dermatology and $76, 392 in cardiology.
If you work as a health care administrator in a facility that has many doctors, you will earn more than the manager who supervises and coordinates a few doctors. This is because you will have more responsibilities compared to a smaller facility.
A health care administrator who has less than 1year experience will earn about $ 36,000 but this usually increases as you get more experience. One with 1- 4 years experience gets you $39.836, 5 -9 years experience gets $49,137, 10-19 years experience gets you $56, 641 and more than twenty years will earn you $65, 000.
As an administrator in an outpatient care center, your pay will be about $67, 920 while a hospital will pay you $78,660. Working as an administrator in a rural health facility will not pay as much as an urban one but the daily expenses tend to be fewer in a rural area.