orm_february-2024 - 16

Salary/Career Survey
Takeaways
* Perioperative business managers can make significant contributions to a hospital's financial health, but more than half of
hospitals do not have this role.
* Business managers' earnings have increased in the past 5 years, while the number of direct reports has risen slightly.
* The bachelor's degree has consistently been the most commonly required degree for business managers, although many
have master's level preparation.
Business manager, Saver
Continued from page 1
Lydia Casteel,
MSN, RN,
CCRN
Paulding Hospital in Hiram, Georgia, budget
constraints have made it challenging to allocate
resources for a business manager when
clinical roles are a priority, says Lydia Casteel,
MSN, RN, CCRN, director of nursing, surgical
services. " Some healthcare facilities rely
on the existing administrative staff to handle
financial aspects, which may be seen as a
cost-saving measure, " she says.
And yet, business managers
are well-positioned to help their organizations
financially. " Hospitals without an OR
business manager just don't realize they need
one, " says Matt Ruby, MHA, director of surgical
services for Northwestern Medicine Lake
Forest Hospital and Northwestern Medicine
Grayslake Surgical Center in Lake Forest, Illinois.
Given that the OR should be every organization's
top contributor of revenue, seasoned perioperative
business managers " can justify their salaries many times
over every year, " he says. Business managers also can free
perioperative nurse directors to focus more on the clinical
aspects of their work.
Matt Ruby,
MHA
Here is a closer look at how the role has evolved during
the past 5 years. (Percentages may not add up to 100% due
to rounding.)
Financial gain
The biggest change in the past 5 years has been the increase
in business manager salaries.
Does your OR have a business manager?
2023
Yes
No
37%
63%
2022
43%
57%
2021
38%
62%
2020
36%
64%
2019
43%
57%
In 2019, only 27% earned an annual salary of $100,000
or more (compared to 21% in 2014), but by 2023, the percentage
had jumped to 42%. Factoring in the $90,000-to$99,999
range increases these percentages to 35% in 2014,
40% in 2019, and 56% in 2023.
16
OR Manager | February 2024
<$60K
$60K-$69,999
$70K-$79,999
$80K-$89,999
$90K-$99,999
$100K+
Don't know
What is the current annual salary for the business manager?
2023
(N=85)
2%
5%
2022
(N=114)
1%
12%
4%
14%
42%
21%
11%
15%
8%
11%
37%
18%
2021
(N=89)
1%
3%
7%
9%
12%
40%
27%
2020
(N=79)
6%
11%
13%
8%
9%
27%
27%
7%
11%
17%
13%
27%
22%
On the other side of the spectrum, 12% of business managers
earned less than $60,000 in 2014. In contrast, the
same figure climbed above 2% in only 1 of the past 5 years of
survey data (6% in 2020).
Responsibilities
The number of direct reports for business mangers has increased
slightly in recent years. The proportion of those with
three to nine direct reports rose from 51% in 2021 to 68%
in 2022 and 69% in the most recent survey. Only 9% had no
direct reports in 2023, compared to 14% in 2019 and 23% in
2014.
Business managers' responsibilities have
been fairly consistent throughout the past 5
years. In 2023, financial analysis and reporting
was the most commonly cited responsibility
at 76%, followed by the annual budget
at 72%. Such figures reflect the increasing
importance of the business manager role
amid mounting financial pressures for healthcare
organizations. " It's not just about the
numbers, but the strategy and how we ensure
our health systems grow market share while ensuring fantasAlexandre
Warman,
MBA
None
1-2
3-4
5-9
How
many direct reports does the business manager have?
2023
(N=85)
9%
2022
(N=114)
8%
10 or more
11%
31%
38%
12%
17%
33%
35%
7%
2021
(N=89)
12%
13%
22%
29%
22%
2020
(N=79)
15%
10%
18%
37%
11%
2019
(N=139)
14%
21%
26%
32%
6%
www.ormanager.com
2019
(N=139)
4%
http://www.ormanager.com

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https://www.nxtbook.com/accessintelligence/ORManager/orm_november-2023
https://www.nxtbook.com/accessintelligence/ORManager/orm_october-2023
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https://www.nxtbook.com/accessintelligence/ORManager/orm-february-2023
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https://www.nxtbook.com/accessintelligence/ORManager/or-manager-november-december-2022
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