Massachusetts holds the top spot in the nation for number of healthcare facilities and providers according to a health assessment report which states that “The focus includes continuously improving capacity and capabilities to allow Massachusetts public health and health care systems to prevent, protect against, quickly respond to, and recover from a variety of emergencies.”
The report notes these trends in Massachusetts:
- The Bay State has the fewest uninsured residents in the country — 4%.
- Only 7.5% of Massachusetts adults say they have no “usual place” for medical care. The national average is 17.3%.
- Massachusetts residents benefit with the highest number of doctors per 100,000 in the nation.
Overall Healthcare Spending Down
Healthcare spending grew 1.6% in 2016-2017 with costs totaling $61.1 billion in Massachusetts, according to WBUR, citing statistics provided by the state’s Center for Health Information and Analysis.
“In fact, since 2013 the growth in healthcare spending has been, on average, below the benchmark and lower than national growth trends every single year,” Dr. Stuart Altman, Massachusetts Health Policy Commission chairman, says in the article. This has made Massachusetts a beacon for growth in healthcare employment.
WBUR notes that healthcare and computers will dominate the jobs of the future in Massachusetts. “Healthcare is a sweeping sector that includes everyone from surgeons to home health aides,” the article says. “And the job growth is wide-ranging. Almost every occupation in the sector is predicted to add jobs, regardless of its educational qualification or pay.”
To benefit from this employment trend, healthcare professionals seeking management opportunities can pursue an advanced degree such as Fitchburg State University’s online Master of Business Administration in Healthcare Management. The program will prepare you for leadership roles in the high-growth Massachusetts job market, at organizations ranging from hospitals and healthcare practices to biotech firms.
Players in Massachusetts Healthcare
So who are the big employers? Here are five:
- Boston-based Partners HealthCare has 7,280 employees and annual revenue of $5.5 billion.
- Baystate Health serves the Springfield area. It has 12,000 employees and annual revenue of $5.5 billion.
- Children’s Hospital in Boston has 9,993 employees and annual revenue of $5.5 billion.
- UMass Memorial Health Care, based in Worcester, has 8,893 employees and annual revenue of $2.6 billion.
- Waltham-based Alere manufactures point-of-care diagnostic tests. It has 9,700 employees and annual revenue of $2.4 billion.
Typical Salaries for Healthcare Administrators
Salaries for healthcare managers in Massachusetts can be lucrative. Indeed.com lists average annual pay for different kinds of administrators in the Boston area (sourced April 2020):
- Practice manager – $104,350
- Director – $118,280
- Clinic manager – $95,444
- Director of operations – $118,365
- Administrator – $74,318
- Operations manager – $71,793
- Healthcare manager – $80,088
- Regional director – $111,439
- Project manager – $91,299
- Executive director – $96,131
The healthcare industry is booming in Massachusetts, and the job outlook is strong. It may be time to consider that advanced degree in healthcare management to position for a high-paying career.