How Much Can You Make as a Healthcare Analyst?
Collecting data has become an essential part of how businesses operate—especially in the healthcare sector. The business and technology sides of the healthcare industry have to understand how to provide patients the care they need in a cost-effective manner. This takes healthcare data analysts—those who analyze large swaths of data and assess trends, with the goal being improved operations.
To put simply, the role of healthcare analysts is an essential component to hospitals and healthcare operations.
If you’re considering a career in healthcare data analytics and wondering how much you can make in the field, this guide will outline everything you need to know. Keep reading to learn more about healthcare analyst salary averages.
What Do Healthcare Analysts Do?
So, what exactly do healthcare analysts do? The duties of a healthcare data analyst are largely based around statistics. As a healthcare analyst, you are responsible for researching, collecting, managing, and analyzing information, identifying trends within the data, and then using your findings to come up with ways to lower costs and improve services within the healthcare system you work in.
Another part of the job is creating executive summaries, graphs, and other reports, and then presenting them to your workplace’s management team, and sometimes also to the multiple locations where you sourced your data.
Looking to learn more about healthcare analytics? Get started today at Alliant University.
The Job Market
Like most industries in today’s society, the healthcare industry has quickly become reliant on digital systems—and will continue to do so with each newly available technological advancement. With the expanding digital side of business, jobs in healthcare data are growing as well, with no end in sight.
While the Bureau of Labor Statistics (BLS) doesn’t collect data specifically on healthcare data analysts, the duties of the position are a mixture of two departments they do track:
- Medical records and health information technicians (who collect and input data) – Their job outlook from 2018-2028 is a predicted 11% increase, according to the BLS.
- Operations research analysts (who do research and statistical analysis, problem-solve, and give presentations) – Over the same period of time, 2018-2028, their job market is expected to have a 26% increase, according to the BLS.
Considering the overall growth rate for all occupations in the United States is just 5% on average, collecting and analyzing healthcare data is an area of work with significant job security.
Healthcare Data Analyst Average Salary
Making a difference with your work and having great job security in your field are obvious benefits to choosing a career in healthcare analytics, but another big advantage is the pay.
The average healthcare data analyst salary is $63,150, with an overall salary range of $47,000 to $82,000, according to Payscale.
This range of salary is for healthcare analysts who work in a typical position and are employed by the following healthcare facilities and organizations:
- Hospitals (state, local, or private)
- Physicians’ offices
- Nursing home facilities
- Insurance companies
- Government agencies (state or federal)
- Non-governmental organizations
While the healthcare data analyst salary is substantial, certain credentials will increase your pay even more—such as the time you’ve spent working in the position, your level of education, and your certifications in the field.
Average Salaries Based on Credentials
Finding ways to increase your salary as a healthcare data analyst is simple: the more credentials you have, the better pay you’ll qualify for. Some credentials are as easy as staying in the business for a long time, while others are based on education.
Amount of Work Experience
As a healthcare analyst, when your time in the industry increases, your pay increases with it. Here is the average healthcare data analyst salary according to work experience, as reported by Payscale:
- 1 year or less – $59,000
- 1-4 years – $63,000
- 5-9 years – $71,000
- 10-19 years – $73,000
- 20 years or more – $75,000
These averages are impressive considering it’s possible to get a job as a healthcare data analyst with only an associate’s degree or bachelor’s degree—assuming you completed the necessary supplemental coursework through a healthcare analytics certificate program.
With a graduate degree, you’ll have more opportunities for even better pay.
Ready to start your journey to higher education? Earn your bachelor’s degree at Alliant today!
Jobs with a Master’s Degree
Having a degree, such as a Master’s in Healthcare Analytics, will help you in the following ways:
- Higher likelihood of being chosen for a job
- Potential of receiving higher pay within typical jobs
- Qualifying for additional, higher-paying positions
Some of the higher-paying data jobs you’ll be able to consider with a master’s degree (and some experience in the field) include the following, with average salaries taken from The Balance Careers:
- Data architect – $113,078
- Data scientist – $108,000
- Data engineer – $106,000
Becoming a Certified Healthcare Analyst
Not to be confused with healthcare analytics certification programs, advanced certifications that come after mastering the subject, such as becoming a Certified Health Data Analyst (CHDA), are a useful way to have a higher salary.
While the average healthcare data analyst salary is $63,150, the average salary for a CHDA is $72,208, according to a report by Payscale. This higher salary shows that a CHDA has greater earning potential and career opportunities within their field.
Become a Healthcare Analyst with Alliant
At Alliant International University, you can receive your Master of Science in Healthcare Analytics in as little as one year, graduating with work experience and feeling prepared for your CDHA exam. Becoming a healthcare data analyst is a career choice you can feel confident in—contact Alliant today to learn how to get started.
- Bureau of Labor Statistics. Medical Records and Health Information Technicians. https://www.bls.gov/ooh/healthcare/medical-records-and-health-informati…
- Bureau of Labor Statistics. Operations Research Analysts. https://www.bls.gov/ooh/math/operations-research-analysts.htm#tab-1
- Payscale. Average Health Data Analyst Salary. https://www.payscale.com/research/US/Job=Health_Data_Analyst/Salary
- The Balance Careers. Top 7 Big Data Jobs. https://www.thebalancecareers.com/top-7-big-data-jobs-4588947
- Payscale. Salary for Certification: Certified Health Data Analyst (CHDA). https://www.payscale.com/research/US/Certification=Certified_Health_Dat…