The role of a healthcare operations manager is critical in ensuring that healthcare organizations run efficiently and effectively. Healthcare operations managers are responsible for maintaining daily routine operations of available facilities, they have to manage staff effectively, and make sure that every patient will be treated with high-quality care. Let us know about the ‘Salaries For Healthcare Operations Manager’.
Salaries For Healthcare Operations Manager
The salaries for healthcare operations manager can vary depending on various factors such as the location, the size of the organization, the level of experience and education, and the specific responsibilities of the position.
According to the Bureau of Labor Statistics, in the US the annual salary for health services managers which includes healthcare operations managers was $104,280 as of May 2020, and a 32% increase in opportunities for healthcare operations managers. However, this can range from around $58,680 for the lowest 10 percent to over $195,630 for the highest 10 percent.
The average salary of a healthcare operations manager:
The average salary of a healthcare operations manager can vary based on various factors such as location, experience, education, and the specific responsibilities of the role. According to the BLS, the annual salary for health services managers including healthcare operations managers was $104,280 as of May 2020 in the United States.
Salary of an experienced healthcare operations manager:
The average salary for an experienced healthcare operations manager in the United States is around $140,000-2,00,000 annually. Also, the salary for experienced healthcare operations managers can vary because of the size and type of healthcare organization. Additionally, some healthcare operations managers may be eligible for bonuses or other incentives, which can also impact their overall compensation.
Overall, an experienced healthcare operations manager can expect to earn a salary that is higher than the average salary for healthcare operations managers due to their years of experience and expertise in managing healthcare operations.
Salary for junior healthcare operations manager:
The average salary for a junior healthcare operations manager in the United States is around $85,000 annually. However, the salary for a junior healthcare operations manager can range from around $70,000-85,000 for entry-level positions. Overall, a junior healthcare operations manager can expect to earn a salary that is lower than the average salary for healthcare operations managers due to their lower level of experience and expertise in managing healthcare operations. As a healthcare operation manager, the salary depends on experience, more experience can lead to an increase in salary.
Factors affecting the salary of healthcare operations managers:
The salary of a healthcare operations manager is influenced by a variety of factors, including:
Geographic location:
Different locations have different percentages of demand for healthcare professionals and their salary can vary depending on the location, which can impact the salary of a healthcare operations manager.
Education and experience:
Healthcare operations managers with advanced degrees or many years of experience in the field may command higher salaries due to their expertise and qualifications.
Size of a healthcare organization:
Managers at larger hospitals or healthcare organizations may earn more than those working in smaller facilities.
Level of responsibility:
Healthcare operations managers who are responsible for multiple departments or have a large staff to manage may earn higher salaries than those with smaller teams or fewer responsibilities.
Performance and results:
Healthcare operations managers with a track record of delivering good results and meeting or exceeding performance targets may be rewarded with higher salaries or performance-based bonuses.
Benefits and perks:
Healthcare operations managers may also receive benefits and perks such as health insurance, retirement plans, or bonuses, which can impact their overall compensation package.
Ways of increasing the salary of the healthcare operations manager:
Obtaining additional education:
Healthcare operations managers who have advanced degrees or additional certifications in fields such as healthcare management, finance, or project management may be able to command higher salaries.
Gaining experience:
Healthcare operations managers that are experienced in different areas of healthcare, such as operations, finance, or strategy, may be able to command higher salaries due to their varied expertise.
Negotiating salary:
Healthcare operations managers can negotiate their salary during a job offer or performance review by demonstrating their value to the organization and providing evidence of their performance and results.
Seeking promotions or advancement:
Healthcare operations managers who demonstrate strong leadership skills, deliver results, and take on additional responsibilities may be promoted to higher-level positions with higher salaries.
Relocating:
Healthcare operations managers may consider relocating to areas or organizations that offer higher salaries or better benefits.
Specializing in a particular area of healthcare:
Healthcare operations managers who specialize in a particular area of healthcare, such as data analytics, patient experience, or quality improvement, may be able to command higher salaries due to their expertise.
Staying up-to-date with industry trends and skills:
Healthcare operations managers who stay up-to-date with the latest trends and skills in healthcare management may be more valuable to their organization and may be able to command higher salaries as a result.
Salary according to the year of experience:
- Healthcare operations managers having less than one year of experience can earn around $60,000 to $80,000 annually.
- Healthcare operations managers having 1-4 years of experience can earn $90,000-$110,000 annually.
- Healthcare operations managers having 5-9 years of experience can earn around $120,000-$140,000 annually.
- Healthcare operations managers having 10-19 years of experience can earn $150,000-$170,000 annually.
- Healthcare operations managers having 20 years or more of experience can earn around $170,000-$2,00,000 annually.
Conclusion:
It’s important to note that the salaries for healthcare operations managers can also vary based on the type of healthcare facility they work for, such as hospitals, clinics, or long-term care facilities. In addition, some healthcare operations managers may also be eligible for bonuses or other incentives, which can further impact their overall compensation.
FAQs:
- Is it stressful to operate a healthcare facility?
Healthcare employment has the potential to be stressful at any level of responsibility, even professionals who have been educated to handle pressure would get exhausted by a constant stream of emergencies, hefty workloads, and exposure to illness and death.
- Is healthcare management a lucrative profession in the US?
The answer is yes, earning an MBA in healthcare management in the United States is worthwhile. The average salary for a professional with an MBA who specializes in healthcare administration is 82,938 USD annually.
- Do hospital employers want healthcare managers?
Medical and health services managers’ employment is expected to increase by 28-32% till 2031, also faster than the growth rate average for all occupations in the US.
