A master’s degree is often the end of the line for a lot of healthcare administration positions, but there are PhD programs available. Getting a PhD in Healthcare Administration and Management can open you up to a variety of career opportunities and higher-ranking jobs within the industry. Potential careers include things like CEO, CFO, or administrator of hospitals and medical facilities. Salaries are high with this type of degree and competition is very strong.
Getting a PhD in Healthcare Administration and Management helps professionals obtain leadership positions within their preferred field. Graduates can choose from executive positions like chief executive officer, chief financial officer, vice president, president, and others. Many don’t look at the healthcare industry in a business sense, but these are all necessary positions with a business focus. It takes a lot of training and organization to run healthcare facilities and organizations, and many of the top executives in the world actually work in healthcare.
As the industry continues to grow and change, there will be an increasing need for more professionals at the executive level. CFO’s are responsible for the financial handling of a business at the highest level. They have to work with budgets and understand exactly how money is being spent, where it can be saved, and how to create the best financial plans. CEOs are responsible for the daily operations and everything that goes on. In a hospital setting, that can be a lot which is why their salaries are often much more impressive than others.
Job and Salary Information
There are a lot of administrative and management positions that can be obtained with a PhD in Healthcare Administration and Management, and the outlook and salary varies for each one. As a general rule, those who have a PhD will earn far more than other degree holders in the healthcare industry. Additionally, because of the growing demand, the future outlook for all positions is higher than average and salaries are quite impressive. CEOs tend to earn an average salary of around $167,000 annually while CFOs can earn as much as $200,000 on average, depending on their position, training, and experience.
Other administrative positions such as RN site supervisor, clinical manager, nursing home administrator, department administrator, and surgery center manager are some of the titles that you can expect to find when you are searching for a job with your PhD in Healthcare Administration. There is a lot more than just the CEO and CFO to choose from and it’s going to be up to you to find the position that suits your needs. Regardless of what you choose, there are opportunities for rewarding careers but the competition is fierce so you need to start with the best education. The right PhD from the best program really can make all the difference.