You have decided you would like to work in a foreign country as a health care financial professional. Choose the country and the type of position within health care finance or health care management. You would like to know how medical education, job duties, and pay in the country of your choice compares to the training and experience received in the United States.
Using the CTU Library and other resources, address the following:
- Provide the education requirements, job functions, and salary for your chosen medical profession in the chosen country.
- Describe how these differ from the education requirements, job functions, and salary in the United States.
Be sure to support your information by citing at least 2 scholarly references using APA format.
deliverable length 2-3 pages
Expert Solution Preview
Introduction:
Working in a foreign country as a healthcare financial professional is an exciting opportunity to explore different cultures and gain valuable experience. In this report, we will compare the education requirements, job functions, and salaries of medical professionals in the United States and Canada, focusing on healthcare finance or healthcare management positions.
Canada: Healthcare Financial Professional
Education Requirements: To become a healthcare financial professional in Canada, one must have a bachelor’s degree in business, accounting, or finance. Additionally, certification from the Canadian Health Services Financial Management Association is preferred.
Job Functions: Healthcare financial professionals in Canada are responsible for financial forecasting, analysis, and reporting. They provide advice and guidance to senior management regarding strategic planning, budgeting, and financial management. They also develop and maintain financial policies and procedures.
Salary: According to Payscale (2021), the median salary for healthcare financial professionals in Canada is CAD 76,364 per year.
Differences with the United States: In the United States, healthcare financial professionals are required to have a bachelor’s degree in healthcare management or a related field. They work in healthcare organizations, insurance companies, or government agencies, managing and organizing the finances of the facility. They are responsible for budgeting, financial forecasting, and providing financial reports. The median salary for healthcare financial professionals in the United States is about $75,000 per year (Payscale, 2021).
Canada: Healthcare Management
Education Requirements: To become a healthcare manager in Canada, one must have a bachelor’s degree in healthcare management, business administration, or a related field. Additionally, certification from the Canadian College of Health Leaders is preferred.
Job Functions: Healthcare managers in Canada oversee the operations of healthcare facilities, including managing budgets, human resources, and policies. They develop and implement strategic plans, ensuring that the facility is providing high-quality healthcare services to patients.
Salary: According to Payscale (2021), the median salary for healthcare managers in Canada is CAD 82,842 per year.
Differences with the United States: Healthcare managers in the United States require a bachelor’s degree in healthcare management, business administration, or a related field. They oversee the administrative tasks of a healthcare facility, including staffing, finances, and patient care. The median salary for healthcare managers in the United States is about $84,000 per year (Payscale, 2021).
Conclusion:
Based on the comparison of education requirements, job functions, and salaries of healthcare financial professionals and healthcare managers in Canada and the United States, we can observe several differences. Healthcare financial professionals in Canada prefer business, accounting, or finance degrees, while in the United States, a degree in healthcare management or a related field is required. Healthcare managers in Canada prefer healthcare management or a business administration degree, while in the United States, it is not limited to those degrees. Additionally, the median salary of healthcare financial professionals and healthcare managers in Canada was lower than that of the United States. Overall, the healthcare systems of both countries have several similarities, but the education requirements and salaries may differ significantly.
