Why We Know Healthcare IT Salaries Will Rise in 2017

Feb 20, 2017


Why We Know Healthcare IT Salaries Will Rise in 2017

Why We Know Healthcare IT Salaries Will Rise in 2017

The vitality of healthcare organizations is increasingly tied to the health of their IT department. Creating an IT ecosystem where medical devices, EHRs, big data platforms, and network components work in harmony takes skill and expertise that isn’t easy to come by. It’s that shortage of proficient people (along with other factors) that promise to increase healthcare IT salaries to even higher ranges through 2017 and beyond.




Budgets for Healthcare IT Are on the Rise

New ideas don’t become the norm overnight, especially in the healthcare industry. That’s why healthcare IT budgets have long been treated as a secondary consideration (at most). Now, as perspectives shift and healthcare providers see a strong IT department as part of their ancillary support system, IT budgets are getting a healthy bump.

In 2016 alone, 40% of healthcare providers reported that their IT budgets were growing to better leverage cloud capabilities, mobile accessibility, and analytics platforms. This year, 52% of healthcare CIOs are expected to increase their IT spending. Updating infrastructures from stationary relics to intuitive, mobile friendly platforms will only be part of the focus of their expanded budgets. Attracting the talent necessary to keep broadened IT systems running smoothly will increase emphasis.

Healthcare IT salaries are going to increase because more companies will be bidding for a limited talent supply. Securing valuable technical assets will encourage CIOs to offer more desirable compensation. Even though experienced healthcare IT professionals will have first choice, engaged tech pros with transferable skills will see no shortage of offers.

Awareness of Talent Shortages Are Reaching a Tipping Point

The primary focus of healthcare will always be enhancing overall patient experiences. Most minds in the industry only have peripheral awareness of any shortcomings in IT unless it directly affects patients. Quality care and preventative medicine will always be center stage. However, there is a tipping point we’re approaching where enough of the right people know about the healthcare IT talent shortage.

Surveys of healthcare CIOS show they feel they are affected by the IT skills shortage more than the averages reported by other industries. Where are the greatest needs? These skills gaps are pressing on the minds of healthcare CIOs:

  • Big Data/Analytics: 45% of healthcare CIOs feel they suffer from an analytical talent shortage.
  • Project Management: 36% of healthcare CIOs notice a deficiency in IT leadership.
  • Change Management: 30% of healthcare CIOs have difficulty with talent to guide change management.
  • Security & Resilience: 29% of healthcare CIOs have a hard time finding professionals to optimize security and enact best practices.

Beyond those specific disciplines, they’ll also be seeking out specific skills. Project Managers with the PMP Certification will be more highly demanded than those without. As realization of the shortage continues to sweep the market, healthcare IT salaries for candidates with those specific talents will continue to rise.

Higher Turnover Will Lead to Higher Healthcare IT Salaries

Take the pulse of the current talent pool and you will find a workforce that is regularly overworked. At least 55% of healthcare IT professionals are in a constant state of stress. A lack of experienced technical talent stretches the workweek and responsibilities of existing workers and erodes their morale. Take into consideration that half of healthcare professionals want higher salaries, and all the ingredients for even higher turnover are there.

In 2016, significant tech industry turnover surpassed high points in recent memory and odds are good that 2017 will sustain the trend. Healthcare organizations will then be faced with a few options. One, they’ll need to either naturally raise healthcare IT salaries to stem the tide of employee turnover, or react fast with counteroffers when fatigued employees attempt to leave.

Two, healthcare organizations conscious about their employee retention strategies (and who increasingly have the budget to take action) will need to seek healthcare IT talent to supplement their current workforce. In the process, we will see healthcare IT salaries continue to escalate as healthcare providers and payers attempt to prevent losing at this game of musical chairs.

Getting the Best Compensation in Healthcare IT

Because healthcare IT salaries are on track to go even higher this year, many assumptions about competitive compensation and top job benefits no longer hold true. In Michigan, the healthcare industry is seeing considerable growth and job seekers need to stay current with competitive offers to improve their bargaining power.

w3r is connected to businesses throughout the Detroit metropolitan area and beyond, placing numerous professionals in IT and healthcare positions. Check out some of our PM positions.[/fusion_text][fusion_button link=”” color=”blue” size=”” stretch=”” type=”” shape=”” target=”_blank” title=”” gradient_colors=”|” gradient_hover_colors=”|” accent_color=”” accent_hover_color=”” bevel_color=”” border_width=”” icon=”” icon_position=”left” icon_divider=”no” modal=”” animation_type=”0″ animation_direction=”left” animation_speed=”1″ animation_offset=”” alignment=”center” class=”” id=””]Apply For Job[/fusion_button][fusion_text]


Recent Articles

Your Guide to Choose Between Multiple Job Offers in a Hot Job Market

Though big tech companies are downsizing employees and investors are growing cautiously, the job market remains promising for IT professionals. Positive signs like this are reassuring:   The tech unemployment rate in the February jobs report was 2.2%.   Tech companies...

A Reflection on Black History Month: Living the Message

A Reflection on Black History Month: Living the Message Are we doing the work to be better off than we were yesterday? It’s a question any forward-thinking entrepreneur often asks. If we’re staying flexible, seizing opportunities, and paying attention to market...

The Most Valuable Applications of Banking AI in 2023

The Most Valuable Applications of Banking AI in 2023 Automation is finally paying off for banking, financial services, and insurance (BFSI) sector. Think of JP Morgan's COIN program, which saved 360,000 work-hours and countless instances of human error with automated...

2022 in Review: How w3r Gives Back to Our People and the Community

2022 in Review: How w3r Gives Back to Our People and the Community This year is off to an exciting start. With new business and challenges on the horizon, our team hit the ground running to help organizations unlock the power of leading-edge technology and...

How Our Staffing World 2022 Trip Will Make Your Next Hire Easier

How Our Staffing World 2022 Trip Will Make Your Next Hire Easier   The economy is at an interesting juncture. Hiring cooled down in October and there have been massive losses at companies like Amazon and Microsoft. Now, IT layoffs, both proposed and ongoing at...

Share via
Copy link