Career Outlook
Overview
Health administrators/managers plan, direct, and coordinate delivery of health care services in a variety of settings, such as hospitals, physician practices, insurance companies, long-term care facilities, adult day care, medical equipment companies, home health care agencies, and similar organizations. They can manage the entire facility, a specific department, or an area of service within a specific department or work as consultants.
What They Do
Duties of healthcare administrators may include, but are not limited to the following:
- Work to improve efficiency and quality in delivering healthcare services
- Keep up to date on new laws and regulations so the facility complies with them
- Prepare materials and follow due-diligence processes for physicians' recruitment and privileges granting
- Hire, supervise, and fire other personnel
- Manage finances and supervise utilization and procurement management efforts
- Represent the facility at investor meetings or on governing boards
- Communicate with members of the medical staff and department heads
- Develop and implement marketing and outreach strategies
- Research and create development and improvement strategies
How Much They Get Paid
Based on recent data for 2024, healthcare administrators in Chicago, IL have a range of salaries depending on experience and specific job title. Here's a detailed overview of the salaries for this role in Chicago:
- Median and Average Salaries:
- The average salary for healthcare administrators in Chicago is approximately $83,926 per year
(Salary.com).
- Salaries typically range from $72,252 to $95,764 annually, with some variation depending on the specific employer and role
(Salary.com).
- Lowest Salary Being Offered::
- The lowest reported salary for healthcare administrators in Chicago is around $71,649 annually(Salary.com).
Job Outlook
According to the U.S. Bureau of Statistics, "Employment of medical and healthcare administrators is projected to grow 28 percent from 2022 to 2032, much faster than the average for all occupations. About 54,700 openings for medical and healthcare administrators are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire." Source -U.S. Bureau of Statistics.
Should I Get a Master's Degree?
While a master's degree is not required, getting a master's degree can place you at the higher end of the salary range due to the advanced knowledge and capabilities you bring to the role.
For healthcare administrators in higher-level positions such as senior management roles or specialized administrative roles in larger healthcare facilities, salaries can be quite high.
- High-earning Potential: Positions such as Senior Healthcare Administrators or Executives, especially those involved in larger hospital systems or advanced healthcare networks, can see salaries ranging well into six figures. Top executives might earn between $120,000 to over $200,000 annually or more, depending on the responsibilities and the size of the organization they manage.
- Specific Advanced Roles: For roles like Healthcare Facility Administrator or similar positions that typically require advanced degrees, the salaries can range from around $125,000 to $144,000 annually in markets like Chicago, IL. Sources PayScale.com | Salary.com
If you are interested in pursuing a Master's Degree, GovState's Master of Health Administration program is a perfect option to help you pursue a fulfilling career in healthcare!