Healthcare Compliance Manager/Officer Career and Salary Outlook
Last Updated April 2, 2021
Healthcare is one of the most heavily regulated industries, with the dynamic nature of regulations creating high stakes for healthcare organizations.
“Lack of oversight and a failure in compliance can cost an organization millions,” says Dr. Michael Rip, Program Director of the Master of Science in Healthcare Management at Michigan State University. “There’s a huge need in hospital compliance and good, agile leadership is critical.”
With this critical need in mind, many healthcare organizations are investing in their compliance strategy, expanding the career opportunities in healthcare compliance. Healthcare compliance managers and officers are playing an important role in improving overall patient care and helping to safeguard healthcare organizations from the financial losses that can stem from compliance violations.
What is the Job Description of a Healthcare Compliance Manager?
The leadership position of healthcare compliance manager/officer takes the point in developing and overseeing an organization’s compliance program, building out the team or department dedicated to organizational compliance, and ensuring compliance with all governing agencies, acts, guidelines and laws. Among them, the Social Security Act, HIPAA, the HITECH Act, The Fales Claims ACT, The Patient Protection and Affordable Care Act, The Drug Enforcement Administration and the Department of Health and Human Services.
The healthcare compliance manager/officer generally works hand-in-hand with executive leadership to develop the steps and processes that will cultivate a culture of compliance (setting organizational standards, establishing guidelines and enforcing compliance protocols), and then takes the lead in conducting compliance training and education programs for all healthcare staff.
What is the Role of a Healthcare Compliance Manager?
In their day-to-day, a healthcare compliance manager/officer has numerous job responsibilities, including:
- Developing and administering the organization’s compliance program
- Establishing best practices to support compliance
- Communicating compliance information to senior leadership
- Developing and administering compliance training and education throughout the organization
- Overseeing compliance audits and risk assessments and implementing their findings
- Partnering with legal counsel and finance departments to identify and monitor critical risk areas, planning for mitigating risks, and developing action plans
- Coaching, mentoring and driving decision making for the compliance team
- Interacting with government and oversight agencies
- Reporting violations as appropriate or required
Healthcare Compliance Manager Salary and Career Growth
Between the evolving requirements of healthcare regulation and the growing need an aging population is placing on the healthcare system, employment opportunities in all healthcare occupations are slated to increase 15% from 2019 to 2029 with 2.4 million new jobs*, according to the U.S. Bureau of Labor Statistics.1
The career outlook and salary opportunities for the role of healthcare compliance manager/officer reflect this overall growth in the industry, with projected job openings through 2029 topping 74,000 and an annual median salary of $110,6300*, according to the U.S. Department of Labor’s O*NET database.2
A healthcare compliance manager/officer is a high stakes position, often interfacing with organizational executives given the critical nature of the work. In recognition of the impact of compliance across a healthcare organization, the top role of oversight is increasingly being elevated to the C-suite. For the successful healthcare compliance manger/officer, striving towards the executive-level Chief Compliance Officer (COO) role could be the next career goal.
How Do I Become a Healthcare Compliance Manager?
This leadership role is well-suited for seasoned healthcare professionals who are experienced working under the extensive healthcare regulations. With a first-hand understanding of the impact government regulations and compliance practices have on the daily working lives of physicians, nurses, and healthcare staff, experienced healthcare professionals possess a critical knowledge base and competencies that can be invaluable in a compliance leadership role.
For those with less experience in healthcare, a bachelor’s degree with a business-related focus, such as finance or management, can be beneficial. Aspiring compliance managers can build skills and glean experience by starting in entry-to-mid-level compliance positions, such as patient privacy and protection specialist, compliance auditor, and/or compliance analyst.
For the compliance manager, officer or COO leadership role, a graduate degree may be preferred or even required within many organizations. A graduate degree with a specialized focus on healthcare compliance can provide unique knowledge in implementing compliance systems, conducting risk management and assessment and understanding the legal aspects and ramifications of healthcare compliance.
MSU’s M.S. in Healthcare Management – Compliance equips future compliance leaders with a business-based approach to healthcare compliance, while cultivating the critical thinking, strategic decision making and innovation skills needed in visionary healthcare leaders.
*National long-term projections may not reflect local and/or short-term economic or job conditions and do not guarantee actual job growth. Information provided is not intended to represent a complete list of hiring companies or job titles, and degree program options do not guarantee career or salary outcomes. Students should conduct independent research on specific employment information.
1Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Healthcare Occupations. https://www.bls.gov/ooh/healthcare/home.htm (visited October 28, 2020).
2O*NET Online, Summary Report for Compliance Managers, Bureau of Labor Statistics 2019 Wage Data. https://www.onetonline.org/link/summary/11-9199.02#WagesEmployment (visited March 30, 2021).
