A medical administrator is a professional that’s responsible for the management and supervision of daily activities in a medical facility. These experts tend to deal with a vast range of administrative duties like working with staff members, billing, patient record management and daily task organisation.
The salaries of medical administrators vary vastly. They depend on the size of the facility, the responsibilities of the professional and their experience.
If you’re considering a profession in the field, it will be important to get a better idea about what medical administrators earn. Here are some of the details that will make it easier for you to decide whether to pursue employment as a medical administrator.
Medical Administrator Salaries in the US
There are significant differences between the median medical administrator salaries quoted by different sources of information.
According to PayScale.com, medical administrators in the country earn a median annual salary of 52,674 dollars. The best-paid professionals in the field can expect to earn up to 77,233 dollars. The national average is 41,000 dollars and late-career medical administrators can expect to earn the impressive 49 per cent higher salaries.
The median annual medical records administrator salary according to Salary.com is 78,680 dollars (the website quotes 2015 data). The best-paid professionals in the field can expect to earn up to 103,080 dollars per year.
Medical Administrator Salaries in Canada
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According to the website, the median annual salary in the country is 35,253 Canadian dollars. The best-paid and most experienced medical administrators can expect to earn up to 49,405 Canadian dollars per year.
The national average is 33,000 dollars. Entry-level medical administrators earn slightly less – four per cent below the national average. Late-career medical administrators are logically the ones that enjoy the highest salaries – 43 per cent above the national average.
In terms of hourly payments, the national median is 15 Canadian dollars. The most experienced administrators can expect to earn 22 dollars per hour and up to 34 dollars per hour for overtime work.
Salary Differences by Sectors
The industry and the sector that a medical administrator’s employer represents will affect the salary.
The best-paid medical administrators are employed by specialty hospitals, the Bureau of Labour Statistics reports. These professionals earn annual income of 107,000 dollars per year. Other well-paid professionals in this field are employed by surgical hospitals (102,040 dollars per year).
More than one third of all medical administrators are employed by hospitals and physician offices. These professionals earn slightly less than the ones that enjoy the highest salaries in the field. The worst-paid medical administrators are employed by nursing care facilities (80,000 dollars per year) and home health care services (86,000 dollars per year).
Does Size of the Practice Affect the Income of Medical Administrators?
As already mentioned in the beginning of the article, the size of the practice is yet another factor that has a profound impact on the amount that medical administrators earn.
The number of staff that medical administrators oversee has a proportional impact on their salaries. The administrators that work in a facility having six or fewer physicians earn an average of 86,459 dollars per year.
The medical administrators that work in facilities having anywhere from seven to 25 physicians earn an average of 115,000 dollars per year. Obviously, medical administrators employed in institutions that have more than 25 physicians are the best-paid ones. These professionals earn 150,756 dollars per year and they can also expect to have an administrative assistant.
According to BLS, the demand for medical administrators will increase much more rapidly than the demand for other professionals. In the period until 2022, the need for professionals in the field will increase by 23 per cent. There were 315,500 available medical administrator positions in 2012 and by 2022, the number of new workplaces will reach 73,300.
The professional opportunities and the salaries will continue being affected by the experience and qualifications of candidates. The absolute minimum for building a successful career in the field is a bachelor’s degree in either healthcare administration or business administration. Professionals that go ahead to acquire a higher level of education will obviously be the ones that will get opportunities to work for better facilities and thus, to earn higher income.