The top 10 highest paying healthcare jobs in the US
As the number of technology companies continues to rise, healthcare focused IT roles have grown exponentially. Following on from a published report by Glassdoor, we take a look at the highest paying healthcare roles in 2018.
10. Software Architect
With popular cities such as San Diego, New York, Boston and Chicago attracting a hotbed of talent, the demand for Software Architects is no exception.
Providing a base salary of $105,329, the number of job openings exceeded 1,300 in 2018, highlighting the increased need for those with significant experience working with a multitude of clients, management teams and developers to provide exceptional technical support in developing new projects within an innovative new system architecture.
9. Nurse Practitioner
A global shortage of nurse practitioners, particularly in cities such as San Francisco, Seattle and Austin, Texas led to 14,931 new job openings in 2018
Gaining a median base salary of $106,962, Nurse Practitioners traditionally work in family practices, with specialisms in areas such as paediatric care, adult care, midwifery and more.
Upon completing a Master of Science in Nursing (MSN), Nurse Practitioners are able to and advise and prescribe medications, diagnose minor injuries and undertake diagnostic tests such as x-rays, providing a central role.
8. Software Engineering Manager
A niche market which is gaining momentum, job openings for Software Engineering Managers exceeded 1,000 in 2018, with a median base salary of $107,479 on offer.
Supporting and directing engineering staff in developing new and existing software applications, it is imperative for Software Engineering Managers to ensure all milestones are reached within required budgets and deliver a seamless project delivery.
7. Physician Assistant
Similarly to Nurse Practitioners, Physician Assistants (PA’s) fulfil a number of roles on the front line, working directly under physicians to effectively diagnose and treat patients, prescribing medications and undergoing diagnostic tests where required.
Gaining a median base salary of $108,761 and with 8,616 job openings in 2018, this figure is set to increase in the upcoming years as a result of ageing populations and new technologies which will further impact the role.
6. Software Development Manager
Responsible for providing technical expertise and delivering a technical roadmap for clients, Software Development Managers have gained a median base salary of $108,879, with 1,064 new job openings this year.
Leading and mentoring various teams, the role requires individuals to successfully work in partnership with various engineers, project developers and management teams, whilst becoming involved in all outcomes, adhering to robust standards and processes.
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5. Corporate Counsel
Healthcare is becoming increasingly complex, leading to a steady surge in roles within the legal sector. Corporate counsel roles have become in demand, working for a singular organisation and catering its services to that particular client, providing legal representation where necessary.
Those in the role can gain a median base salary of $115,580, with up to 693 job openings this year.
4. Enterprise Architect
Delivering a robust framework and effectively working with management teams, Enterprise Architects are growing in popularity.
Implementating a robust digital architecture, EA’s work alongside domain architects to ensure compliancy across all corporate activities, working effectively with stakeholders to achieve essential business goals.
EA’s gain a median base salary of $115,944, with up to 1,097 roles posted this year.
Globally renowned for providing high quality, appropriate medicines and prescriptions to patients, pharmacists are responsible for providing high quality, customer-focused patient care, gaining a median base salary of $127,120.
Delivering essential advice regarding all medications and services available, pharmacists are responsible for monitoring the drug supply chain, noting any potential shortages, with 2,534 job openings in 2018.
2. Pharmacy Manager
Overseeing the everyday functions of pharmacies, Pharmacy Managers remain responsible for providing medications to patients, effectively managing stock supply, maintaining and ordering essential drugs whilst keeping an eye on the budget, well as providing immunisations to patients.
Adhering to all healthcare requirements, all medication given must be high quality, leading Pharmacy Manager’s to mentor, train and monitor staff. Individuals must also have significant knowledge in dealing with customer concerns or complaints, and regularly engage with other health professionals.
Pharmacy Managers can gain a median base Salary of $146,412, where 2,009 jobs became available in 2018.
Amassing a median base salary of $195,842, 3,038 new physician roles came onto the US market in 2018, highlighting that physicians will continue to be integral to the delivery of patient-centered care.
Global ageing populations, complex long-term health conditions and rising healthcare costs will further transform traditional physician roles of Medical Doctors and Doctors of Osteopathic Medicine.
It will be imperative for physicians to examine patients, diagnose and treat illnesses, prescribe medications and operate where required (for those with specialisms in areas such as dermatology, cardiology, ophthalmology and radiology.
Top 10 healthcare innovations for 2019
We take a look at some of the top 10 healthcare innovations which are transforming the sector
The telehealth market is booming. Consumers are leading increasingly busy lifestyles, with up to 60% favouring digitally-led services. Providing clinical care at a distance, increasing accessibility and eradicating potential delays has given patients greater control, boosting patient satisfaction and overall engagement. Such is its exponential growth, The Centers for Medicare and Medicaid Services in the US has recently released its proposed Physician Fee Schedule and Qualified Payment Programme updates for 2019, where telehealth services has been heavily featured, in order to deliver ‘different access points’ for patients.
9. Mobile technology
Consumers have become accustomed to accessing their data through the use of various digital tools, where the use of mobile and tablet health apps has tripled from 13% in 2014 to 48% today. Catering to this growing market, British based start-up Babylon Health is making waves on a global scale. Partnering with the National Health Service (NHS) and private health provider, Bupa, it has also cemented its presence across the flourishing Chinese market, with a membership base exceeding 1.4mn citizens across Europe, Asia and Africa. By partnering with global juggernaut Tencent, Babylon’s artificial intelligence system has enabled both parties to interact directly with users, identify specific illnesses, deliver health status assessments, and triage necessary actions. The mobile app is available to over a billion users and linked to more than 38,000 medical facilities in China alone.
8. Artificial intelligence
Artificial intelligence (AI) applications, such as predictive analytics for patient monitoring has provided significant financial savings. Applications that target hospitals and medical institutions include patient monitoring and transcribing notes for electronic health records (EHRs). The European Union is set to invest $24bn into artificial intelligence (AI) by 2020 in a bid to catch up with Asia and the US, who have invested heavily in AI and cloud services. This year, Google revealed its plans to harness AI and machine learning across a multitude of consumer technologies, particularly in healthcare. “If AI can shape healthcare, it has to work through the regulations of healthcare. In fact, I see that as one of the biggest areas where the benefits will play out for the next 10-20 years,” Google CEO Sundar Pichai has previously stated.
Blockchain is estimated to reach over $5.61bn by the end of 2025, even though it remains dependent on the ability to record and store information conveniently, economically and securely amongst different applications and systems. Providing transparency and eliminating third-party intermediaries, processes are streamlined, reducing healthcare costs exponentially. Unlocking the ability for providers to deliver a value-based healthcare system and enhance patient engagement, blockchain could save the industry up to $100-$150bn per year by 2025 in data breach-related costs, IT costs, operations costs, support function costs and personnel costs, according to BIS Research. Partnering with pharmaceutical giant GlaxoSmithKline (GSK), Ethereum blockchain-based supply chain platform, Viant sought to accelerate the pace of blockchain-based supply chain systems. Accenture and supply chain giant DHL have also developed a blockchain-based serialisation prototype which tracks pharmaceuticals from the point of origin to the consumer.
6. Health wearables
With the rise of lifestyle diseases, such as diabetes, more consumers are turning to health wearables that monitor glucose, heart rate, physical activity and sleep to gain a greater understanding of their health conditions. Following on from the release of the first Bluetooth headset back in 2000, the growing interest in wearables has seen monitoring our health and data become standardised. This data can be analysed by sophisticated algorithms to drive long-term diagnosis and support. Partnering with Google, health wearables company Fitbit is exploring the development of consumer and enterprise health solutions. Its acquisition of HIPAA-compliant health platform, Twine Health has seen the business enhance its clinical services by bringing on board a coaching platform, empowering people to seek better health outcomes.
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5. Electronic health records tools
From 2018-2022, the electronic health records (EHR) market is expected to grow at a compound average rate of 6% per year Providers and organisations continue to house fragmented technologies which create barriers towards collaboration and data sharing opportunities. This is further exacerbated if a patient straddles both public and private healthcare. Technology giant Apple has integrated patients’ medical records into its Health App as part of its iOS 11.3 beta. The data is encrypted and protected with the user’s iPhone passcode. Partnering with hospital providers and clinics, patients are now able to view their medical records from multiple providers within one platform. Johns Hopkins Medicine, Cedars-Sinai, Penn Medicine, UC San Diego Health and even the Cleveland Clinic have implemented this technology.
4. Healthcare transportation
Non-emergency health transportation remains a key issue worldwide, preventing patients from getting to or from a doctor’s appointment. 25% of lower-income patients have missed or rescheduled appointments due to lack of transportation, costing US health systems up to $150bn each year. Transportation companies such as Lyft and Uber have therefore entered the market by partnering with state governments to reduce these costs and deliver personalised patient care.
3. 3D Printing
Healthcare providers are set to represent the second largest industry sector in 3D manufacturing. The Food & Drug Administration’s decision to release its first comprehensive framework advising manufacturers of 3D medical products highlights its growing impact where more than 100,000 knee replacement surgeries are completed each year using 3D-printed, patient-matched surgical guides, for example. Through this process, surfaces and structures can be optimised for strength, weight and material use. Consultation between surgeons and patients has also been bolstered, where patients can better understand the complexity of his or her specific needs.
As consumers get more involved in the management of their health, consumer genetics and research companies have grown in popularity and scale. People want to further understand their genetic makeup, leading personal genomics and biotech company 23andMe to become one of the largest consumer-based organisations worldwide. Interestingly, this year, the company has entered a four-year collaboration with GSK to develop new treatments, but using human genetics as the basis for discovery.
Not only looking to develop treatments by analysing human genetics, pharmaceutical companies are looking to even remove hereditary genes which pass diseases down generations. In 2017, human embryos were successfully ‘edited’ through gene editing tool, CRISPR (Clustered, Regularly Interspaced, Short Palindromic Repeats), eradicating hypertrophic cardiomyopathy within 42 embryos.
1. Vertical integrations
As healthcare providers aim to provide greater transparency, promote collaboration and lower escalating patient costs, 2018 has been the year for a significant number of vertical integrations. CVS Health’s $68mn takeover of health insurer Aetna is a case in point. By influencing more of the supply chain, it will gain significant negotiating power to reduce costs for payers and patients, develop personalised solutions and improve overall outcomes. It will also promote the eradication of delays in process by removing any third parties within traditional business models. Other notable integrations are Optum’s acquisition of the DaVita Medical Group, Humana and Kindred Healthcare and Cigna and Express Scripts.
Reports have indicated that not only has the number of healthcare deals more than doubled in the last five years, the size of deals has also grown as a result of repeat investor interest, highlighting that this trend is here to stay.