Chief Executive Officer - Career Profile |
Career OverviewA chief executive officer is considered to be upper management in a hospital or healthcare facility. The chief executive officer works to develop and define the goals and outcomes required by the facility, as well as having input on the methods by which these goals will be realized.
They oversee or coordinate all the management teams from the financial planning to the actual completion of the project or item. The chief executive officer may be responsible for the profit or loss of the hospital or healthcare facility or may be required to report to a board of directors for recommendations and finalization of plans.
There may be several chief executive officers within large hospitals or healthcare facilities that work together to coordinate all the business aspects of the facility. They may be designated various specific departments to manage and oversee, and them may work as a team with the other chief executive officers to make the appropriate recommendations for future growth and development of the hospital.
A chief executive officer has a very interesting and high profile job. The chief executive officer is usually the coordinator of committees that may involve staff of various levels as well as citizens from the community. He or she may also be involved in hiring and monitoring of management staff within the facility.
Excellent communication skills and the ability to work with diverse groups are very important for the position of a chief executive officer. Many chief executive officers also take on additional responsibilities of governing and assessing and developing protocols and procedures within the facility.
A strong financial and business background in hospital or healthcare is an asset to a chief executive officer, as well as experience working within care facilities.
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Career RequirementsGenerally a chief executive officer will have at least a Masters level education in business management, healthcare administration or other related field. Very often chief executive officers are promoted from within various mid or upper management positions after working closely with the current chief executive officer on projects and committees. The board of directors may establish specific criteria for a chief executive officer based on the unique aspects of the facility or healthcare agency.
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Job OutlookAs indicated above most chief executive officers are promoted from within or already have extensive experience within the healthcare sector. Those chief executive officers that have participated in trainings within the hospital or agency have a greater tendency to be hired.
It is predicted that there will be a slightly higher than average rate of employment for qualified chief executive officers as new hospitals and long term care facilities open. This trend will continue until the year 2014.
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Career TrackSome chief executive officers choose to go into very specialized management fields within the hospital or care facility. These jobs may be as managers of financial departments, planning or even research. Some chief executive officers move into consulting and working in more of a business analysis, risk management or other specialized consulting field.
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CompensationThe salary for a chief executive officer varies depending on the size of the hospital or healthcare facility that they are working with. Chief executive officers in the non-profit sector or in government run facilities tended to make significantly less than equivalent chief executive officers in private facilities. The average non-profit chief executive officer averaged $88,000 per year whereas private sector chief executive officers may make over $500,000 per year.
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