Retired physicians are often very familiar with all of the elements that make a health care facility run smoothly, which is why some look into health care administration.
The job of health care administrators is to manage the facility and oversee staff. They're often responsible for developing the rules and regulations of the facility, as well as managing finance, marketing and human resources issues. We spoke with Thomas Dolan, president and CEO of the American College of Healthcare Executives, who said that knowing how medicine is delivered and having clinical experience helps in becoming an administrator.
Of course, not all retired doctors will be up to the task of becoming an administrator. Although the health care experience will certainly help, it takes a different set of skills to manage a facility than to practice medicine. "The real challenge" for such a transition, says Dolan, "is for those doctors who are not trained in business." Today, many administrators hold specialized degrees in health care administration, nursing administration or business administration. And, if you're interested in nursing home administration, this will require getting licensed.
The good news is that, according to the U.S. Department of Labor, the demand for health care administrators is on the rise [source: BLS.gov].