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Business Manager - Career Profile |
Career OverviewThe role of a business manager varies from facility to facility based on the actual needs of the hospital or healthcare center. Overall the business manager works to keep the daily operation of the facility on track. This includes monitoring or managing staffing, coordinating outreach activities or activities within the healthcare facility, overseeing the budget compliance as well as ensuring that all applicable regulations, guidelines and laws are being followed on a consistent basis.
The billing manager usually works a standard work schedule with little demands for overtime or weekend work. They are very involved in the planning of the operation of the hospital or facility so therefore are involved with staff, medical support people, department heads as well as direct involvement with patients complaints if required. The business manager is often the liaison between the upper or senior management teams and the frontline workers so they must have excellent communication and interpersonal skills, as well as understanding hospital or facility protocols and procedures.
The business manager may also be responsible for managing aspects of the physical plant of the hospital or facility, working with outside contractors or vendors when required. Often the business manager oversees work projects and works closely with contractors to ensure that work is completed on schedule and within budgets.
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Career RequirementsOften hospital business managers are promoted from within the existing workforce of the hospital. This ensures that the successful candidate has experience within the facility and is aware of the types of services that are provided as well as some of the challenges that the agency or facility may face.
Most business managers have a background in healthcare management or administration, and may have their Masters in a related field. Most job posting require a minimum of a Bachelor’s degree in a related field. Additional training on computer programs, business management, or human resources related areas are considered to be advantageous to the business manager.
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Job OutlookAs more and more computerized systems are used within hospitals and healthcare facilities the need for business managers will decrease slightly over the next 10 years. This decrease will be somewhat offset with the movement of existing business managers into other areas of management within the hospital or facility. It is anticipated that hiring will become more selective and only those business managers with strong education and experiential backgrounds will be considered for these positions.
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Career TrackA business manager with a Masters degree in business administration or healthcare management has options to move into other more senior management positions within the hospital. Those business managers with strong interpersonal skills may find that working in the human resources department in a management position may be a very good match for their skills and interests.
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CompensationMost individuals employed as business managers in medical facilities in the United States earn an average of $31,000 and $53,000 per year. The top 10% of the business managers earn in excess of $68,000, and these are business managers with higher levels of education or significant experience in hospital and healthcare settings.
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