Healthcare Risk Management Manager Salary
|Salary||$48,720 - $103,754|
|Bonus||$0.00 - $9,978|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$49,737 - $102,812|
|Hourly Rate||$22.50 - $47.92|
|Bonus||$0.00 - $9,978|
|Total Pay (||$49,737 - $102,812|
Job Description for Healthcare Risk Management Manager
The role of a health care risk manager is vital to medical care facilities. They are responsible for minimizing the risks of accidents and errors that could end up costing the facility a lot of money in insurance and malpractice claims. In order to accomplish this, they must perform a wide variety of tasks, including creating and implementing policies to improve patient care and ensure employee safety. Risk managers may be required to work with the facility's legal team in case a malpractice situation or a workers compensation claim occurs.Read More...
They spend the day working with staff to assess any potential risks and hear complaints from patients. They collect information to identify any weaknesses in the hospital's staff or procedures. They must submit any accident reports in a timely manner. They are also required to train staff about potential risks. They should have a thorough understanding of the hospital's policies and work well with hospital staff. Their usual work environment is an office with a computer, but they will spend a lot of time in staff meetings and training sessions.
They should be well-organized, have excellent planning and coordinating skills, and have the ability to work in teams or independently. They should be able to perform well in tense situations and remain calm under pressure. They will be required to have a bachelor's degree in a related field, such as health care administration, finance, insurance, or law. They must have knowledge of governmental regulations as well. A medical background is also helpful for this position.
Healthcare Risk Management Manager Tasks
- Oversee day-to-day operations of the risk management program.
- Ensure services are in compliance with professional, HIPPA, and JCAHO standards, state and federal regulatory requirements.
- Create and implement educational programs to promote risk management in the organization.
- Examine, analyze and report on risk data to determine potential loss.
- Gather, analyze and retain claims, worker's comp, or any associated risk data.
Pay by Experience Level for Healthcare Risk Management Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For Healthcare Risk Management Managers, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. People who have worked for fewer than five years bring home $69K on average. Median compensation in the five-to-10 year group, however, is higher at approximately $73K. The average pay reported by folks with 10 to 20 years of experience is around $76K. Veterans who have acquired more than 20 years report a median income of $94K, which is generally higher than the pay reported by other tenure groups.
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