Emerging Job Opportunities in Healthcare Administration Can Be a Lucrative Career Destination for Hospital Management Professionals
On the surface, healthcare industry seems to be driven by doctors, nurses, and a specialized team of clinical technical experts. However, with a deeper look one can see that this industry needs much more to deliver quality care to the patients as well as function as a profitable business enterprise. In fact, a recent survey by KPMG/CIO (2016), on the healthcare industry trends, reveals that the companies are prioritizing optimization of business processes and increasing organizational efficiencies to keep pace with the growing challenges of the industry.
Today, some of the foremost challenges of running a healthcare organization are to strike a balance between value-based care and volume based care, manage rising expenditures and address dire shortage of trained talent. In fact, value-based patient care is not possible without quality workforce talent both in the clinical as well as in the administrative and operational spheres.
With the extraordinary technological advancements, each and every industry is relying on data driven intelligence for gaining customer behaviour insights to provide quality customer care. Against this backdrop, talent proficiency is measured based on the employees’ in-depth understanding of technology, emotional intelligence, communication skill, business dynamics over and above their core functional role and specialization area. Considering all these critical factors for shaping a successful organizational ecosystem be it for hospitals, nursing homes or clinics, healthcare administration is evolving as a distinct and specialized field in this sector.
This need is creating tremendous career opportunities in the healthcare industry even in the non-clinical fields like, management, marketing, customer care, operations, finance, systems, HR, Public Relations and many more functional areas and responsibilities. One of the recent surveys reports, that the demand for health services managers will shoot up to 22% by 2020. Let us explore some of the most prominent roles that are evolving in the healthcare sector in the light of these current industry trends.
Appointing CEOs for hospital governance was driven by the need to establish policies, make strategic decisions, people management, profit and loss accountability, and oversee overall organizational activities among other things. Previously this role was predominantly managed by the top-level doctors in the organization. Soon this leadership role demanded laser focus along with other ancillary competencies for living up to the challenges of the organization and the industry. Even in India, this is an extremely highly paid role with a staggering earning potential that can amount to crores per anum.
What goes on behind the scenes for an efficient hospital administration is generally not very apparent to the general public. Doctors, nurses and the clinical team takes the centre stage with relation to delivering quality patient care. However, the role of a hospital administrator/manager includes overall planning, coordination, and management of key services across departments for ensuring efficient execution of healthcare facilities for all-round patient care. He may also need to work on budgets, billing, hiring, legal compliance documentation, managing schedules and inventory supply chain management.
Hospital Marketing Manager
Every hospital needs a brand vision, marketing communication strategy and direction. That’s why every hospital needs an efficient marketing manager to set strategic and tactical direction of the organization with a sound marketing research, plan, its execution, communication, monitoring and evaluation. Be it exploring new markets, studying product feasibility and publishing the right content and information in relevant channels, networking, building corporate partnerships, conducting effective ground events, a marketing manager is at the helm of all activities for generating awareness, response and revenue for the organization.
Health Finance Manager
The healthcare financial managers are generally responsible for managing day-to-day financial operations for the organization. Other responsibilities include cash management, providing direction for investment activities, review contracts, budgeting, accounting, financial reporting and analysis, budgeting and compensation evaluation, maintaining compliance with legal and tax regulations among others. The finance manager also ensures a seamless workflow and communication to support interdepartmental activities that involves cash flow. Generally, candidates with professional healthcare management degree and finance specializations are preferred for such roles.
Hospital HR Manager
To support quality talent acquisition, development, and management, the role of a hospital HR is extremely critical to the organization. An efficient HR manager deftly organizes and conducts recruitment selection and staffing process to hire and retain the right people in the right seat. The HR personnel is responsible for addressing employee concerns, settle disputes, talent development, talent transfer, engagement and ensures that each and every employee participates and imbibes the organizational culture and works as a cohesive team to support larger objectives of the organization.
In order to achieve long term branding mileage, a healthcare organization needs to invest in sustainable communication of their vision, programmes, achievements, social responsibility initiatives in the right forums to gain visibility, confidence of the stakeholders and brand goodwill. Hospital PR in today’s context needs creativity, communication skill, tactical understanding of conventional as well as new media, and media liaising. An industry relevant healthcare management course gives special emphasis on this core area of hospital administration.
Health Information Managers
The role of a specialized health information manager is to acquire, analyze, and protect data from all sources to give insights and information about the patients that facilitates a holistic and quality care. Data helps the organization derive intelligence. Managing information flow is integral to the operational efficiency of a hospital and it is fully achieved only when all the hardware and software components of an organizational IT is functioning optimally and properly processing data at all times.
This is not all! Healthcare management professionals also have a huge scope in the government and public-sector organizations. Government is undertaking numerous new projects to bridge the gap between the volume of patients and more healthcare institutions for providing them with adequate treatment support. Moreover, healthcare is among the fastest growing industries and going for massive expansion of services nowadays. This colossal growth needs a herculean workforce strength. Trained healthcare management professionals can also enjoy wider employment opportunities to work for in the allied healthcare industries. For instance, Pharmaceutical, Health Insurance sectors, Diagnostic centres/Clinics also employ hospital management qualified professionals. That’s how specialized roles like pharmaceutical product managers, medical transcriptionists, administrative executives or even health insurance managers evolved to provide specialized and scalable services for futuristic organizational advancement.A Blog Initiative by Future School of Hospital Management (FSHM)