4 Trends Driving the Need for Healthcare Administrators
Employers will be looking to fill over 133,000 healthcare administration jobs by the end of the decade.
The future is bright for professionals who hold a degree in healthcare administration. According to the U.S. Bureau of Labor Statistics, job opportunities for healthcare administrators are projected to skyrocket over the next decade. Between 2019 and 2029, the field is expected to grow 32%, adding 133,200 new healthcare administration jobs in the U.S.1
With these types of numbers, healthcare administration is a smart choice if you want a career with good job prospects. An advanced college education in the field, such as a Master of Healthcare Administration (MHA) degree, could put you in demand for leadership roles in hospitals, physician offices, government agencies, nursing and residential care facilities, and other organizations. Leaders in healthcare administration hold rewarding and challenging jobs as hospital administrators, clinical managers, health information managers, nursing home administrators, and other roles in medical and healthcare services management.
The growing need for healthcare administrators means an MHA degree could also lead to a great salary. In 2019, the annual median wage for hospital administrators ranged from $86,820 up to $111,520—that’s a median hourly wage of $48.55—depending on the industry in which they worked.1
Why Is There a Demand for Healthcare Administrators?
Now more than ever, the ever-changing healthcare industry needs professionals who are equipped to lead healthcare teams and manage administration challenges. Here are four trends driving the demand for healthcare administrators:
1. Growing Healthcare Industry
The healthcare industry is one of the largest industries in the U.S., employing about 18 million people.2 It’s also one of the fastest-growing sectors and is expected to add 2.4 million new jobs by the end of the decade.3 As employers look to fill these jobs with new healthcare workers, they need administrators with the skills to manage and supervise growing and increasingly diversified teams.
2. More People in Need of Healthcare
One of the biggest reasons for the growing healthcare industry—and the subsequent demand for healthcare administrators—is the aging population. By 2030, all people in the baby-boom generation will be older than 65. This means that 1 in every 5 residents will be retirement age.4 Plus, the U.S. population is growing by an average of 2.3 million people per year.4 The aging and growing population means more people need healthcare, creating a demand for providers and administrators alike.
3. Changing Regulatory Environment
From the Affordable Care Act to the transition to value-based care, changes in healthcare law and regulation are constant. Hospitals and other medical facilities need administrators who can navigate a U.S. healthcare system that is continually evolving. Healthcare managers and administrators play an increasingly important role in keeping hospitals compliant, while elevating organizational performance.
4. Technology Advancements
Administrators with skills and knowledge in healthcare informatics are in especially high demand as the use of technology across the healthcare industry continues to expand. The U.S. Bureau of Labor and Statistics notes: “Widespread use of electronic health records (EHRs) will continue to create demand for managers with knowledge of health information technology (IT) and informatics systems. Medical and health services managers will be needed to organize, manage, and integrate these records across areas of the healthcare industry.”1
Healthcare administration is a career choice filled with excellent job opportunities in all types of health settings. By earning a master’s in healthcare administration, you can put yourself in demand as a leader in today’s rapidly changing and increasingly complex healthcare climate.
Walden University is an accredited institution offering a Master of Healthcare Administration (MHA) degree program online, including a Tempo Competency-Based Learning™ option that allows you to move through the MHA program at your own pace. Expand your career options and earn your degree in a convenient, flexible format that fits your busy life.
Walden University is accredited by The Higher Learning Commission, www.hlcommission.org.