A health care risk management director’s job is to protect the reputation and assets of a hospital or medical center by identifying and addressing issues that could expose the organization to liability. Well-honed business skills and knowledge of the health care industry are essential for success in this field.
The path to a health care risk management director career can begin by enrolling in the online Bachelor of Arts (BA) in Business Administration – Healthcare Management program from Florida Institute of Technology. This comprehensive degree program provides students with the specialized business and health care knowledge needed to succeed as a risk management director.
Job Outlook for Risk Management Directors
The U.S. Bureau of Labor Statistics (BLS) reports that employment of medical and health service managers, including health care risk management directors, will grow by 29% from 2023 to 2033. This rapid job growth places medical and health services directors among the fastest-growing occupations in the country.
Job prospects in health care should be favorable as the industry continues to expand, increasing the demand for management professionals with strong business skills. Health care risk management directors with relevant experience and education should enjoy the best career prospects.
What Does a Director of Risk Management Do in Health Care Settings?
Risk management directors oversee a hospital or medical facility’s risk management program, which involves monitoring, controlling and working to prevent risk exposure. Typical duties include advising management and administration on all potential sources of risk — from theft to hazardous work conditions to lawsuits — and making recommendations to minimize or eliminate exposure. Depending on the size of the facility, these professionals may supervise a team of risk management specialists.
Loss prevention is a key responsibility for health care risk management directors, who often assist in training employees and contractors in this area. When claims occur, the risk management director typically analyzes the situation and reports all findings to management and administration. Risk management directors must also deliver regular summary reports.
Health care risk management directors may also establish policies and procedures for regulatory compliance, quality assurance, and patient and staff safety. Additionally, they ensure that the facility and health care practitioners have the appropriate liability and medical malpractice insurance coverage.
Most risk management directors have an office within a health care facility and put in a 40-hour work week. However, professionals in this field may be on call after hours in the event of emergencies.
Health Care Risk Management Director Salary
According to national salary data from ZipRecruiter, risk management directors earned a median annual salary of $143,185 as of May 2025. The typical salary range for these professionals at that time was $105,500 to $167,500.
Recent bachelor’s degree program graduates will typically start in a risk management specialist or analyst role and move into a director-level position with further experience or education. ZipRecruiter reports that the typical salary range for health care risk management jobs at the analyst, specialist or manager level was $90,000 to $129,000 per year as of May 2025.
For the overarching occupational category of medical and health services managers, BLS reports a median annual salary of $117,960 in 2024, with the highest-paid 10% of workers earning more than $219,080. This broader category can include risk management directors as well as other management roles in health care, such as medical office manager, clinical manager or health information manager.
Risk Management Director Education and Training
According to ZipRecruiter, both risk management director and health care risk manager jobs require a minimum of a bachelor’s degree in a related field, such as business administration or health care management, plus related work experience. Professionals with relevant education and experience can apply for certification as a Certified Professional in Health Care Risk Management (CPHRM), which may provide an advantage when applying for executive-level risk management positions.
The first step to a risk management director career can begin with earning a BA in Business Administration – Healthcare Management degree from Florida Tech. Coursework in this program covers essential business skills and knowledge as well as specialized subjects like health care organizations, medical ethics, management information systems, quality improvement methods in health care, health planning and policy management, and more. Employers can be confident that graduates of Florida Tech’s health care management program are able to do the following:
- Apply the fundamentals of management to health care business issues
- Implement problem-solving processes in a health care setting
- Exercise effective decision-making skills in matters of health care risk management
- Demonstrate an understanding of health care management and leadership
- Leverage advanced skills and knowledge to succeed as a risk management director
Many employers offer opportunities for continuing education. It may be possible to gain an entry-level position with a bachelor’s degree and use tuition assistance to further one’s education.
Pursuing a Health Care Risk Management Director Career
Those considering a health care risk management director career will need strong problem-solving skills, keen attention to detail and the ability to communicate clearly with a wide range of people. An aptitude for numbers, computer systems and data analysis are valuable attributes, too.
Risk management directors have great responsibility and must back all decisions with sound reasoning and data-driven evidence. For those with the essential qualities needed to succeed in a risk management director role, the BA in Business Administration – Healthcare Management online program from Florida Tech can provide the foundation for a successful career.
Learn more about Florida Tech’s online BA in Business Administration – Healthcare Management program.
