Are you searching for healthcare executive jobs? Do you have the relevant requirements to work as a healthcare executive in a reputable healthcare sector? Here are top senior healthcare executive jobs near you that you. Also, see the application requirements and guidelines and how to apply here.
What is Healthcare Executive?
A healthcare executive is a broad term for senior-level management officials with ultimate decision-making authority over clinical delivery systems. These executives, also known as C-Suite executives, plan continuous quality improvement initiatives to keep their healthcare facilities growing.
The Chief Executive Officers (CEOs) hold the highest-ranking position and are responsible for overseeing all strategic aspects of their organization. Chief Financial Officers (CFOs) are in charge of the financial affairs of medical institutions. While, Chief Operating Officers (COOs) oversee clinical operations on a daily basis, from the bedside to the boardroom.
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More so, Chief Nursing Officer (CNO), Chief Information Officer (CIO), and Chief Human Resources Officer are other common healthcare executive titles (CHRO). Sifting through the alphabet soup, it becomes clear that healthcare executives are critical for transforming facilities into welcoming communities on which patients can rely.
Healthcare Executive Jobs Salary
The highest-paid professionals in the healthcare industry in the United States are not doctors. Becker Hospital Review reports that the average base salary for CEOs is $752,800. Chief Financial Officers earn an average base salary of $416,200 per year. Chief Experience Officers earn $221,000 on average, while CIOs earn $173,941 on average. Since 2013, pay has increased by 0.9 percent, while bonuses have increased by 29.6 percent.
Starting Salary
Newly hired healthcare executives with less than 10 years of experience typically earn around $140,864 per year in the bottom quarter percentile. Senior healthcare executives, on the other hand, have the potential to earn $751,764 or more. There is clearly no ceiling because Ascension CEO Anthony Tersigni is paid $7.1 million. Patrick Fry, CEO of Sutter Health, is also paid $3.8 million.
Key Responsibilities Of Healthcare Executive Jobs
Responsibilities vary greatly depending on the executive title, but they all share the overarching goal of coordinating resources for the healthcare organization to provide high-quality treatment.
Other key responsibilities include:
- Healthcare executives are frequently public figures who represent the facility to legislators, regulatory boards, physicians, and the general public.
- Executives devote a significant amount of time to leadership meetings in order to communicate how the organization is performing.
- They will use their creativity to create strategic policy changes that will benefit patients.
- Healthcare executives could hire appropriately licensed clinicians, manage supply vendor relationships, oversee facility accreditation, raise funds for building expansion, and much more.
- Typically, executives only report to the Board of Trustees.
Necessary Skills Required for Healthcare Executive Jobs
Healthcare executives are visionary leaders with the strategic planning skills necessary to develop and achieve actionable, measurable goals.
- Executives must have 360-degree critical thinking skills in order to make sound decisions for their organizations.
- Mental agility is required to transition policies from traditional behaviors into the rapidly changing twenty-first century.
- To direct facility relations, healthcare executives must be skilled communicators who are capable of public speaking, listening, and writing.
- Analytical abilities are required to determine whether patient-centric experiences benefit or harm business.
- Executives in health care should be risk management experts capable of thwarting any issues that jeopardize organizational goals. It is also important to be energetic, diligent, empathetic, and culturally competent.
Degree and Educational Requirements
The Joint Commission does not require licensed healthcare executives, but they must be highly educated. However, the vast majority of healthcare executives have completed graduate school for a master’s degree, such as a:
- Master of Health Administration (MHA) or an MBA in Healthcare Management.
- Health Services Management Master of Public Health (MPH) tracks would also be acceptable.
- Any bachelor’s degree that allows you to enroll in CAHME-accredited universities is a good place to start.
- Few healthcare executives are physicians; however, pursuing a Doctor of Medicine (M.D.) degree may broaden one’s options.
- Some executives have a Doctor of Health Administration (DHA) on their resumes as well.
Pros and Cons of the Healthcare Executive Jobs
Pros
Many MHA students aspire to be healthcare executives, but landing in the C-Suite can be both advantageous and disappointing.
On the bright side,
- healthcare executives are arguably the highest-paid employees in the industry, with salaries exceeding $1 million. Not to mention the bonuses, benefits, and investment options available.
- There is no need to be concerned about a recession because executives are always in high demand in this field.
- Healthcare executives can be proud that they have a positive impact on the lives of thousands of patients by ensuring that certified clinicians provide safe care.
Cons
- healthcare executives are unable to interact with the patients who often draw them into medicine out of generosity.
- They work long days that exceed eight hours and are on-call in case of an emergency.
- Executives are under increasing pressure to maintain profits as insurance reimbursements fall.
- Healthcare executives must also invest in additional education and leadership experience in other to be up-to-date and relevant in their job.
Where Can a Healthcare Executive Jobs Be Found?
Healthcare executives can find positions with the following:
- Hospitals,
- Medical insurers,
- Managed care organizations,
- Nursing homes,
- Pharmaceuticals,
- Medical universities,
- Public health agencies,
- Long-term clinics,
- And more.
Top Healthcare Executive jobs Currently Available
Here are websites that you can search and apply for healthcare jobs near you:
Eligibility Criteria
It is estimated that over 2,000 students graduate with a health administration degree each year. As a result, education alone is insufficient to compete for advanced healthcare executive jobs. Because 10+ years of leadership experience is expected, most healthcare executives do not reach the C-suite until they are in their 40s or later. Begin honing your managerial skills during your studies by participating in:
- Internships,
- fellowships, and
- administrative residencies.
- Hands-on consulting projects with local health organizations could help you get your foot in the door.
- Pay your dues while expanding your industry knowledge with periodicals like Frontiers of Health Services Management.
- Another excellent option is to become Board Certified by the American College of Healthcare Executives (ACHE).
- Accepted fellows must pass a 230-question exam and pay a $200 registration fee for FACHE credentialing.
However, don’t be discouraged if you have to start in an entry-level management position like a medical secretary or an assistant administrator.