12 Sep MHA Job Highlight – Physician Practice Management
There are many different jobs you can pursue with a Master’s in Healthcare Administration. One of the most popular careers that benefit from an MHA is in physician practice management. A practice manager is also known as a medical manager, medical practice administrator, healthcare administrator, and healthcare executive. This position is responsible for running the business and operations of a physician practice. One day as a practice manager is never the same as the next; it is a career that is never boring and always presents new challenges.
Below, we will explore what the job of a practice manager entails.
What exactly does a practice manager do?
A physician practice manager is responsible for every business aspect of the practice. This includes anything needed to keep things running smoothly in a medical office: managing operations, finances, and security. They are also responsible for ensuring the practice is following all codes and regulations involved in running a medical practice.
Operations: Practice managers make sure that the medical practices they are in charge of have the staffing required to make them run smoothly. For example, a practice manager would decide if the practice needs another nurse or even maintenance staff.
Finances: Practice managers are also in charge of managing the finances. Often they will be expected to suggest ways to make the practice more efficient while decreasing overhead. A practice manager might suggest ways to streamline the check-in paperwork to get clients back to the doctor faster. They could suggest cutting costs by offering a patient portal for scheduling appointments and checking medical records. This would free the front desk staff to focus on other work.
Security and regulations: Practice managers are also responsible for the security procedures of the facility and ensuring that sensitive medical and business records are safe. Practice managers also make sure the practice complies with the many codes and regulations to which physician practices must adhere.
Future employment outlook and salary expectations
According to the Bureau of Labor Statistics, the two industries with the highest level of employment for health service managers are in general medical and surgical hospitals and offices of physicians. The annual mean wages for these industries are $120,540 and $105,810, respectively. Also, the employment of practice managers in the United States is expected to grow 20 percent from 2016 to 2026.
So not only do these careers pay well, but the industry is expected to grow a lot in the next decade, which is something you can’t say about many other job markets in the United States.
Why get an MHA?
Practice managers must have fantastic communication and management skills, and you have to know a lot about healthcare practices and regulations. You must also have strong leadership and analytical skills to succeed. Because of the nuances of this job and the various skill requirements, many practices, especially medium to larger practices and hospitals, require that you have a degree like a Master’s in Healthcare Administration. Long story short, an MHA is highly recommended for those interested in furthering their career as a physician practice manager: a career with a lot of variability and different challenges to tackle each day.
Learn about the MHA program at Auburn University-Montgomery
Whether you’re just finishing an undergraduate degree and looking for a next step, or already well on your way down a career path, the MHA program at Auburn University-Montgomery offers a convenient and affordable way to pursue a valuable degree. You can earn your graduate degree in as few as three semesters. And you have the flexibility to take classes entirely online, in-class or a combination of the two.