Chief Operating Officer |
Career OverviewThe responsibilities of the chief operating officer include the day-to-day management of the hospital or healthcare facility. This means that the chief operating officer is monitors staff performance, systems effectiveness as well as design and evaluation of the various components of a hospital or healthcare facility.
The chief operating officer is consider to be one of the most senior management positions and usually only has to report to the chief executive officer or possibly the board of directors or management team, depending on the type of hospital or healthcare facility that the chief operating officer is working at.
The chief operating officer must have an excellent knowledge of how the hospital or healthcare facility operates on a daily basis. They will need to have a clear picture of how patients should be moved through the hospital from admissions to discharge. In long term care facilities the chief operating officer will have to ensure that daily patient care is as effective and professional as possible.
The chief operating officer in a hospital or healthcare facility may provide in-services for staff or may recommend or oversee training and orientations of new and existing staff. The chief operating officer works closely with middle management to help with troubleshooting or problem solving within the various departments of the facility. The chief operating officer is very involved with the planning and development departments of the facility and often works closely with human resources and the financial department.
A chief operating officer must have above average organizational skills and should be able to troubleshoot and problem solve. Creative thinking and remaining calm, even under pressure is an essential skill for a chief operating officer. A chief operating officer should be able to communicate effectively and should be familiar with all software and other technology used in the hospital or healthcare facility.
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Career RequirementsSome of the currently chief operating officers have worked their way up through the management ranks with a Bachelor’s degree in business, accounting or a related field. Most new chief operating officers have a Master’s degree in business administration or healthcare administration as well as having a strong background in accounting, financial management, computers and other related fields.
Since the chief operating officer is a senior management position most hospitals or healthcare facilities require at least 7 to 10 years experience working in a middle level management position within a similar facility.
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Job OutlookIt is predicted by the United States Department of Labor that at least until the year 2014 there will be an average rate of increase in job opportunities for chief operating officers. This is largely due to those currently employed moving into other positions or retiring.
New hospitals and long term care facilities will need to hire some chief operating officers although they will usually try to hire from those already employed, but this in turn will create new openings.
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Career TrackIndividuals in the position of chief operating officer may have the opportunity to move into chief executive officer positions or move to other areas of the management teams as a managing director. In addition some chief operating officers choose to work as consultant to other hospitals or healthcare facilities and may provide services as a consultant to several hospitals at one time.
Large private healthcare corporations may hire experienced chief operating officers as troubleshooters and systems analysts for hospitals and facilities that they own.
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CompensationThe average salary for a chief operating officer is considerable higher in private facilities than it is in government run hospitals and healthcare systems. Generally a chief operating officer will earn between $300,000 and $500,000 depending on the size of the facility and the location.
Some chief operating officers acting as consultants may earn in excessive of this amount, while other chief operating officers may have a lower average pay but a much higher bonus per year.
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