Health Care and the U.S. Economy
Health care today accounts for nearly 18% of the gross domestic product, with estimated annual per capita expenditures for 2015 of $9,403. The nation's 5,564 hospitals alone employ over 5.1 million people. As the population ages, opportunities in long-term care are growing: there are over 15,000 nursing homes, 12,400 home health agencies, 14,500 rehabilitation facilities, and 4,000 hospice programs. Health plans, the pharmaceutical industry, medical groups, and medical equipment and devices are other significant health care industry sectors.
Health Care Administration graduates are involved in the business aspects of health care service delivery. Duties vary and may include planning and coordinating department activities in personnel and staffing, purchasing, public relations, fundraising, accounting, and program evaluation. They develop and implement budgets, analyze all types of data, and assure compliance with regulatory agency requirements. Other health care professionals work in marketing, finance, insurance, and information systems in health care and related organizations. For more information on a career in healthcare administration, check out the following resources:
Hospitals, health plans, insurance companies, nursing homes and other long term care facilities, home health agencies, medical and dental practices, practice management organizations, outpatient care facilities, public health organizations, and medical device/ equipment vendors.
Those with advanced degrees and extensive health-related or specific managerial experience will do well in the growing health care market. Competition for hospital jobs is increasing. Opportunities in marketing, patient accounts management, financial management, information systems, and utilization review are slightly better. Salary varies by experience, size, and type of institution. Please check the Bureau of Labor Statistics for updates in salary and employment outlook in medical and health services manager.
The healthcare industry is to become the largest job sector in the US economy in the next decade. Graduates with healthcare administration degree can work in a variety jobs and work settings. For assistance regarding career exploration and development tailored to your degree, you can visit the CSULB Career Development Center website.