The Ultimate Guide to becoming a Practice Manager
A career in practice management is an exciting opportunity with a wide range of responsibilities. As a Practice Manager (PM), you are the leader of your team and manage the day-to-day operations of your practice. When looking for a career as a practice manager, there are many pathways available.
To help you learn about this dynamic role, we have created the ultimate guide to becoming a practice manager.
Table of Contents
Healthcare is now Australia’s largest industry by employment. With the increasing demand for healthcare, there is now a real shortage of well-trained practice managers.
A practice manager is responsible for managing and coordinating the day-to-day business operations of a practice, therefore, they are the glue that holds the practice together. The role of a practice manager is constantly changing as they have a wide range of functions, however, this depends on the type and size of the practice.
With their passion for providing high-quality patient care, and creating a strong team culture, practice managers can positively contribute to the health and well-being of others.
What is the job outlook for practice managers?
Demand for practice managers
With more than twenty-four million people in Australia, everyone will require some level of healthcare at some point in their life. To meet these needs, there is now a shortage of well-trained practice mangers. This has caused:
- A strong demand for practice managers.
- A growing healthcare industry, which requires practices to have substantial resources.
- A need to sustain the quality requirements.
According to Industry Employment Projections Report, employment for practice managers has grown by 81% in the past five years and is expected to continue to grow until November 2020.
As a result, over the next five years, the demand for practice managers is expected to grow to 31,300, as shown below.
The role of a Practice Manager
A practice manager is a highly valued team member with a wide range of skills, hence, they are an important part of the development of their practice.
The role of a Practice Manager (PM) includes:
Recruitment and selection
Training and induction
Human resource management
Continuous improvement and development
Ethical and legal compliance
If you would like to find out if you could be suited for a career in practice management, take our Career Path Quiz here.
What are the benefits of working as a Practice Manager?
You are a leader of your workplace, therefore, you can shape the work environment and team culture to reflect your values.
You wear a lot of hats, as you have a wide range of functions. This provides more variety in your role, making the workday more interesting and enjoyable.
You can work across different industries based on your interests, therefore, this allows you to expand your horizons and explore different industries.
You have a positive impact on others. With their passion for providing excellent patient service and care, practice managers can positively contribute to the health and well-being of others.
Where does a Practice Manager work?
A career in practice management provides you with the opportunity to work on-site at a practice in a variety of different industries. These may include, but are not limited to:
Career pathways for Practice Managers
A career as a practice manager provides you with the opportunity for career progression. This can be based on a number of different factors, such as experience and knowledge. These positions may depend on the practice that you work for, and could include:
What are the pay rates for Practice Management?
Practice Management salary in Australia
Source: *Pay Scale Website. The graph shows the average salary for practice managers in Australia.
In Australia, the average pay for a practice manager who is at entry-level is $58,000 per year. For a practice manager who is in their mid-career, the average pay is $62,000 per year, while a practice manager who is in their late-career, the average pay is $64,000 per year.
Furthermore, to find out the pay rate for each state, please check out our blog.
How do you become a Practice Manager?
If you would like to pursue a career in practice management, most employers will require you to have one of the below:
- At least three years of current practice management experience
- A nationally recognised qualification, such as the Diploma of Practice Management.
Training to become a Practice Manager
TalentMed’s Diploma of Practice Management is designed to help provide you with the leadership and management skills needed to advance or change your career in practice management. Qualified trainers are available from the moment you start the course all the way through until course completion. Built on numerous years of experience in training high-quality practice managers, the Diploma of Practice Management helps you quickly gain the knowledge and skills you need to get a job and excel in the workforce.
In conclusion, if you would like more information on how you can pursue a new career in Practice Management, you can request a free information pack below!