Managed Care Manager Salary
Approximately half of Managed Care Managers in the United States have been in the field for more than 10 years. Pay can fall anywhere from $42K to $93K per year, but median earnings come to around $67K per year. Work is enjoyable for Managed Care Managers, who typically claim high levels of job satisfaction. A large number report receiving medical coverage from their employers and most collect dental insurance. There are far more female Managed Care Managers who answered the questionnaire than men, making up 83 percent. The data for this snapshot was collected from individuals who took PayScale's salary survey.
Job Description for Managed Care Manager
Managed care managers are in charge of managed care contracting, negotiating, and activity-managing for the health facility in which they work. They implement managed care contracts for the health care system in which they are designated and ensure coding and claims are in compliance with professional standards and state and/or federal requirements. They often interact with multiple departments within their facilities.Read More...
Managed care managers supervise staff and are in charge of the selection, training and development of managed care workers. A Bachelor’s degree in Business Administration, Health Care Administration or a related field is required. Master’s degrees in these same fields, or at least 5-7 years of managed care managing experience, are preferred by many companies.
Managed care managers are often required to travel extensively (25-30% of the time) for payer meetings, company meetings, health care center visits, and other endeavors. They are also responsible for contributing to strategic planning, maintaining and developing relationships with health plans, and directing negotiations, as well as managed care agreements with current and prospective purchasers and/or healthcare providers. They must monitor the budgets within their department, use resources effectively, and stay up-to-date on all regulatory- and insurance-related information. They must also maintain relationships with administrative management and managed care companies, such as HMO’s, PPO’s, EPO’s, and workers compensation carriers.
This job takes place mainly indoors, excluding the extensive travel responsibilities. Due to the traveling, this job often takes place outside of normal business hours. Above all, managed care managers must be organized, efficient, and good at dealing with all kinds of people to thrive in the workplace.
Managed Care Manager Tasks
- Monitor budget and utilize operational resources.
- Ensure coding and claims are in compliance with professional standards, state and federal regulatory requirements.
- Supervise staff, including the selection, training and development of managed care staff.
- Analyze manage care reimbursement methods.
- Participate in the manage care contracting activities.
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Pay by Experience Level for Managed Care Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Relatively untried employees who have less than five years' experience have a median salary of $64K. Those who have been around for five to 10 years can expect to take home more — $67K on average. Managed Care Managers see a median salary of $70K after reaching one to two decades on the job. Managed Care Managers who have stuck around for more than two decades see earnings that are no higher than those of folks who have worked for 10 to 20 years.
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Key Stats for Managed Care Manager
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