Colorado’s healthcare administrators earned an average salary that was 8% higher than the national average for this professional classification according to a 2014 report published by the Colorado Department of Labor and Employment. Healthcare administrators in Colorado earned an average salary of $112,057. Entry-level healthcare administrators in Colorado earned an average salary of $69,096, while those with experience earned an average of $133,538.
Where the Demand is for Healthcare Administrators in Colorado
The Colorado Department of Labor and Employment (CDLE) expects the number of jobs for healthcare administrators in the state to increase rapidly between 2014 and 2024. With a projected growth rate of 34.34%, jobs for Colorado’s healthcare leaders are expected to increase at a rate nearly twice as fast as the national rate of growth for this professional classification. This level of growth should generate 241 healthcare administration jobs in Colorado each year on average during this ten-year projection period.
The major areas of employment for healthcare administrators are expected to experience rapid growth during this ten-year period; another indicator that demand for skilled leaders will continue to rise. The CDLE expects a 43.89% increase in general employment within the ambulatory care setting. Hospital employment should increase by 32.25%, while employment in nursing and residential care facilities is expected to increase 23.55%.
Hospitals are the primary employers of healthcare administrators and tend to pay higher salaries according to the US Bureau of Labor Statistics. A 2015 report from the American Hospital Association found that hospitals in Colorado employed 75,129 people in 2013.
A joint report by the Colorado Hospital Association and Colorado State University from 2011 analyzed employment growth in hospitals throughout the state. Their analysis indicated that the number of jobs in Colorado’s hospitals increased even during the recession. For instance, job growth in hospitals increased 15.2% between 2005 and 2010. Hospitals in Colorado are significant economic drivers for the state and accounted for $9.8 billion of the state’s Gross State Product in 2010.
Salaries for Colorado’s Healthcare Administrators According to Location
Most of Colorado’s healthcare administrators are located in the Denver-Aurora area. Slightly more than half of the 4,112 healthcare administrators who were employed in Colorado in 2014 were located in this metropolitan area.
The US Bureau of Labor Statistics provides a detailed analysis of earnings for healthcare administrators in Colorado as of 2014. The median salary among healthcare administrators in Denver-Aurora-Broomfield was the highest in the state. In addition, healthcare administrators in Colorado Springs and Greeley who were in the 90th percentile (typically experienced) earned salaries that were so high that they exceeded the maximum values reported by this agency:
*Values are equal to or greater than $90 an hour or $187,199 a year. The US Bureau of Labor Statistics does not report salary data higher than these values.