What Are the Highest-Paying Jobs in Healthcare Management?

As in many other fields, healthcare employers and employees rely on human resources (HR) professionals to help manage their people, resources, and institutional priorities. They recruit, hire, and train employees and implement policies around compensation and benefits.

HR managers are excellent communicators and decision-makers. These specialists typically have at least a bachelor’s degree in HR, business, or a related field. For healthcare employers, a bachelor’s in healthcare management could help you stand out. Employers may prefer to hire those with certification from a professional organization such as the Society for Human Resource Management.

Median Annual Salary: $114,830

Medical office managers ensure that hospitals, medical practices, clinics, and other healthcare facilities run as safely and smoothly as possible. These professionals sometimes manage various day-to-day tasks, including implementing policies and procedures, managing supply inventories, and ensuring that equipment and technology are functional and up to date.

Many medical office managers have a bachelor’s degree in business, healthcare, or a related field. Employers expect these managers to have strong analytical, communication, and leadership skills.

Median Annual Salary: $110,950

Medical and health services managers oversee operations and services provided at hospitals and other healthcare facilities. They understand the inner workings of healthcare systems but do not provide direct patient care.

Rather, their duties involve developing budgets, leading staff, and ensuring compliance with complex healthcare laws and regulations. Medical and health services managers need a bachelor’s degree for entry-level positions, although they often need a more advanced degree for senior-level positions.

Median Annual Salary: $110,680

Management analysts, or management consultants, help healthcare organizations optimize business operations, reduce costs, and enhance patient care. They use financial data and other institutional information to identify areas for improvement. Management analysts may have a particular focus area such as healthcare operations, clinical operations, or health information technology.

Those specializing in healthcare have at least a bachelor’s degree in healthcare administration, business administration, business, or a related field. The job demands highly advanced analytical, communication, computer, and problem-solving skills. While they are not required to hold certification, some management analysts may enhance their qualifications with certification from the Institute of Management Consultants.

Median Annual Salary: $99,410

Nursing home administrators are just one kind of nursing administrator, all of whom have unique duties, workplace settings, and professional requirements. Nursing home administrators manage the day-to-day operations of long-term care facilities and similar institutions. Depending on the size of the facility and other factors, these administrators may perform clinical as well as administrative duties. Nursing home administrators may have a nursing degree in addition to a degree in healthcare management or a similar subject.

Nursing home administrators’ specific duties can include developing and managing budgets, managing staff, implementing programs, interacting with residents and families, and ensuring the facility is in compliance with laws and regulations. The National Association of Long Term Care Administrator Boards administers certifying exams for this profession.

Median Annual Salary: $97,490

Healthcare chief executive officers (CEOs) lead and manage the overall operations of hospitals and other healthcare facilities. Their responsibilities include strategic planning, financial management, and the appointment of senior executives.

A healthcare CEO usually has a graduate degree such as a master’s degree in healthcare management, as well as substantial experience in the worlds of business and healthcare. This leader may also be a trained physician or other healthcare professional. CEOs and other top healthcare executives must demonstrate excellent leadership, problem-solving, and decision-making skills to succeed.

Some CEOs move up from mid-level managerial positions within their organization, while others are recruited from outside of the organization.

Median Annual Salary: $258,900

The chief nursing officer (CNO) leads nursing departments in hospitals, health systems, and other healthcare facilities. As a senior executive, the CNO manages and directs the nursing staff, ensures high-quality patient care, implements policies and procedures to maximize performance, and manages and allocates financial and other resources.

Requirements to become a CNO can include a graduate-level degree in nursing, such as a master of science in nursing or a doctorate of nursing practice degree. Many of these programs have specialized leadership tracks that prepare nurses for senior roles.

Median Annual Salary: $155,833

Chief financial officers (CFOs) are responsible for managing a company’s finances and maintaining its fiscal health. CFOs oversee the organization’s income and expenses, prepare financial statements and forecasts, ensure adherence to laws and regulations, and develop a company’s investment strategy.

Financial managers often have a master’s degree in finance, economics, accounting, or a related field, and at least five years of experience. Those working in healthcare management will likely have experience in this sector, though it may not be required.

Financial managers have strong analytical and communication skills. Many hold certification from professional organizations such as the Healthcare Financial Management Association or a more general organization like the CFA Institute.

Median Annual Salary: $123,586

Health services administrators, also known as healthcare administrators or health services managers, play a critical role in healthcare delivery. They design and develop policies, initiatives, budget priorities, and more, all with the goal of optimizing patient care and the patient experience.

These professionals understand the complex world of healthcare laws and regulations and work to ensure their institution remains responsive and compliant.

Median Annual Salary: $109,274

Operations managers oversee the day-to-day operations of healthcare facilities. These specialists manage budgets and other resources, including staff, supplies, and equipment. They often implement initiatives like quality improvement procedures for effective healthcare delivery.

Operations managers must have excellent skills in areas such as budgeting and resource management, planning, and organization. Some operations managers may have only a bachelor’s degree, but a more advanced degree can make a difference if you’re looking to reach the top levels of the profession.

Median Annual Salary: $129,330