The healthcare industry is constantly changing, and healthcare administrators are tasked with keeping up with these changes to ensure their organization runs smoothly. One way to demonstrate their competence and stay current in the field is by obtaining certifications in healthcare administration. Not only can certifications enhance an administrator's credibility, but they can also positively impact their salary.
Certification in Healthcare Administration
There are several certifications available in healthcare administration, including the Professional in Healthcare Management (PHM) from the American College of Healthcare Executives (ACHE), the Certified Medical Manager (CMM) from the Professional Association of Health Care Office Management (PAHCOM), and the Certified Healthcare Financial Professional (CHFP) from the Healthcare Financial Management Association (HFMA). Obtaining these certifications requires meeting specific eligibility requirements, passing exams, and completing continuing education requirements.
The benefit of recognition
One of the main benefits of obtaining certifications in healthcare administration is its recognition. It shows that an administrator has the knowledge and skills necessary to lead and manage a healthcare organization. It also sets them apart from others who may have a different level of education or experience. This can increase their credibility and make them more attractive candidates for promotions and higher-paying positions.
The impact on salary
Certifications can also have a direct impact on an administrator's salary. According to a survey by the Healthcare Financial Management Association, certified healthcare financial professionals earn an average of 10% more than those who are not certified. A similar study by the American College of Healthcare Executives found that healthcare administrators with certifications earn an average of $20,000 per year. This salary increase can be especially significant as administrators continue to advance in their careers.
Building a network of professionals
In addition to increasing salaries, certifications also provide healthcare administrators access to a network of professionals in their field. This network can be valuable for obtaining information about industry trends, best practices, and job opportunities. It can also provide opportunities for career advancement and personal growth.
In conclusion, obtaining certifications in healthcare administration can positively impact an administrator's career and salary. By demonstrating their competence and commitment to their field, administrators can increase their credibility, attract higher-paying positions, and access valuable networks of professionals. It is essential to carefully research the various available certifications and determine which is the best fit for their career goals and personal interests.
American College of Healthcare Executives. (n.d.). Professional in Healthcare Management (PHM) Certification. Retrieved from https://www.ache.org/career/credentials
Healthcare Financial Management Association. (n.d.). Certified Healthcare Financial Professional (CHFP). Retrieved from https://www.hfma.org/certification
Professional Association of Health Care Office Management. (n.d.). Certified Medical Manager (CMM). Retrieved from https://www.pahcom.com/certification/
American College of Healthcare Executives. (2017). 2017 ACHE Healthcare Executive Salary Survey. Retrieved from https://www.ache.org/publications/salarysurvey
Healthcare Financial Management Association. (2015). 2015 Compensation and Benefits Survey Report. Retrieved from https://www.hfma.org/research/compensation-and-benefits-survey