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Hospital Risk Manager information

See Baltimore, MD salary details

$51.2K

$110.8K

$168.9K

How much do hospital risk manager jobs pay per year?

As of Aug 24, 2026, the average yearly pay for hospital risk manager in Baltimore, MD is $110,846.00, according to ZipRecruiter salary data. Most workers in this role earn between $89,400.00 and $128,200.00 per year, depending on experience, location, and employer.

What is a hospital risk manager?

Hospital risk managers are professionals responsible for identifying, assessing, and minimizing risks within healthcare facilities to ensure patient safety and protect the hospital from legal and financial liabilities. They analyze incidents, develop policies and procedures, conduct staff training, and collaborate with other departments to address potential risks. Their work helps maintain compliance with regulations, improve patient care quality, and reduce the likelihood of lawsuits or costly errors.

What are some common challenges faced by hospital risk managers?

Hospital Risk Managers often face the challenge of balancing regulatory compliance with patient care needs. They must stay updated on constantly changing healthcare laws and accreditation standards, while also working with clinical and administrative teams to identify and mitigate risks. Coordinating incident investigations and implementing effective risk-reduction strategies requires strong communication and analytical skills. Additionally, managing multiple priorities such as data analysis, staff training, and reporting can be demanding, but these tasks are crucial to maintaining a safe hospital environment.

What are the key skills and qualifications needed to thrive as a hospital risk manager?

To thrive as a Hospital Risk Manager, you need a solid understanding of healthcare regulations, risk assessment, and compliance, typically supported by a degree in healthcare administration or a related field and relevant experience. Familiarity with risk management software, incident reporting systems, and certifications like Certified Professional in Healthcare Risk Management (CPHRM) are commonly required. Strong analytical thinking, attention to detail, and effective communication are crucial soft skills for this role. These competencies are essential for identifying potential risks, ensuring regulatory compliance, and promoting patient and staff safety in a complex healthcare environment.

What is the difference between Hospital Risk Manager vs Hospital Safety Coordinator?

AspectHospital Risk ManagerHospital Safety Coordinator
CertificationsRisk Management Certification, CPR, OSHA trainingOSHA training, Safety certifications
Work EnvironmentAdministrative, strategic planning, policy developmentOn-site safety inspections, staff training
Employer & Industry UsageHospitals, healthcare organizationsHospitals, clinics, healthcare facilities

The Hospital Risk Manager focuses on identifying and mitigating risks across the hospital, including legal and financial risks, while the Hospital Safety Coordinator concentrates on maintaining a safe environment through inspections and safety protocols. Both roles require safety-related certifications and work within healthcare settings, but their primary responsibilities differ in scope and focus.

How to become a hospital risk manager?

To become a hospital risk manager, individuals typically need a bachelor's degree in healthcare administration, nursing, or a related field, along with experience in healthcare or risk management. Many employers prefer candidates with professional certifications such as the Certified Professional in Healthcare Risk Management (CPHRM). Developing skills in risk assessment, compliance, and incident investigation is also important for success in this role.

Is healthcare risk management a good career?

Hospital risk managers play a vital role in identifying and reducing risks within healthcare facilities, ensuring patient safety and compliance with regulations. The field offers opportunities for advancement, requires strong analytical and communication skills, and often involves certifications such as the Certified Professional in Healthcare Risk Management (CPHRM). It is considered a stable and growing career path in healthcare administration.

What does a hospital risk manager do for a hospital?

A hospital risk manager is responsible for identifying, assessing, and minimizing risks to patient safety, staff, and the organization. They develop safety protocols, investigate incidents, ensure compliance with regulations, and implement strategies to reduce liability and improve overall healthcare quality.

What are popular job titles related to Hospital Risk Manager jobs in Baltimore, MD?

For Hospital Risk Manager jobs in Baltimore, MD, the most frequently searched job titles are:

What job categories do people searching Hospital Risk Manager jobs in Baltimore, MD look for?

The top searched job categories for Hospital Risk Manager jobs in Baltimore, MD are:

What cities near Baltimore, MD are hiring for Hospital Risk Manager jobs?

Cities near Baltimore, MD with the most Hospital Risk Manager job openings:

Hospital Risk Manager jobs near you
Infographic showing various Hospital Risk Manager job openings in Baltimore, MD as of August 2026, with employment types broken down into 86% Full Time, 12% Part Time, and 2% Contract. Highlights an 84% Physical, 2% Hybrid, and 14% Remote job distribution, with an average salary of $110,846 per year, or $53.3 per hour.

Financial Coordinator Risk Management

MedStar Health

Columbia, MD • On-site

Full-time

Re-posted 7 days ago

Medstar Health rating

7.8

Company rating: 7.8 out of 10

Based on 240 frontline employees who took The Breakroom Quiz

128th of 893 rated healthcare providers

Job description

About the Job
General Summary of Position
Financial coordinator between MedStar's self-insured claims management program and MedStar's captive insurance company and in that role provides to MedStar's Finance Department detailed financial information regarding expenses associated with the claims management program. Collects from outside defense counsel financial information regarding claims indemnity and expense payments and processes these to reimburse defense counsel for expenses incurred. Provides financial coordination for other insurance programs managed within the Risk Management Department including Workers Compensation. Responsible for managing the financial interface between outside defense counsel Medstar and the Harvard Risk Management claims database to ensure that all expenses and indemnity payments are recorded to the correct claim. Provides administrative support to six professionals within the Corporate Risk Management team. Works under the direction of the Administrative Director Risk Management Services.
Primary Duties and Responsibilities
  • Contributes to the achievement of established department goals and objectives and adheres to department policies procedures quality standards and safety standards. Complies with governmental and accreditation regulations.
  • Manages reconciles and customizes the payment interface process for MedStar's professional medical liability program liaising with Harvard RMF Donegal and MedStar Accounts Payable to ensure a smooth process. MedStar's professional medical liability program includes more than $60 million in expenses and indemnity payments with over 200 claims annually.
  • Tracks processes and follows up on defense counsel invoices both internally and externally.
  • Maintains accurate information regarding all vendors timekeepers and billing rates. Collects W9 forms and prepares invoices for review and approval.
  • Works directly with Finance department to ensure compliance with all Finance Department requirements regarding proper accounting for captive insurance company financial transactions.
  • MedStar maintains a self-insured retention program for workers' compensation with over $1 million in transactions per month. Works with MedStar's outside third-party administrator (Gallagher Bassett) and MedStar's Finance and Accounting departments to ensure accurate processing of all financial transactions for this program. These transactions include maintaining adequate financial resources to enable the TPA to pay expenses and make timely payments to MedStar associates for workers' compensation indemnity payments.
  • Reconciles accounts by identifying errors in posting or omissions.
  • Prepares documentation for wire transfers and ACH transactions and processes wire transfers.
  • Responsible for maintaining with CMS accurate monthly and quarterly Medicare beneficiary information for all professional liability claimants managed through MedStar's captive insurance company claims management program.
  • Responsibility for coordinating and processing all operating expenditures related to the Corporate Risk Management department including office supplies purchased professional services courier services catering expenses travel and education dues and subscriptions licenses mileage reimbursement etc. Works directly with Accounts Payable to ensure accuracy of all such accounts.
  • Supports the claims managers to ensure compliance with the Claims Management Program Billing and Defense Counsel Guidelines; establishes and maintains a working relationship with the billing departments of the multiple law firms retained by MedStar in connection with its professional liability claims management program.
  • Responsible for managing the electronic claims management notification system operated by CT Corp.
  • Provides administrative support to claims managers and risk management team members; coordinates web-based electronic meeting agendas/reports loss prevention tracking and early intervention payments and tracking.
  • Manages trial and mediation calendars provides administrative support including meeting material preparation for key claim management functions including MedStar Professional Liability Claims and Loss Prevention Committee; weekly reserve meetings; quarterly and semi-annual claims review meetings; and pretrial meetings with key stakeholders and defense counsel.
  • Serves as timekeeper for the Corporate Risk Management department.
  • Schedules and provides documentation and support for several monthly and quarterly meetings with corporate and hospital leadership.
  • Coordinates meetings including organizing room reservations catering equipment invitations etc.
  • Schedules conference calls meetings and training/educational sessions.
  • Works directly with the Administrative Director Director of Insurance and Director Claims Operations on various departmental projects.
    • Minimal Qualifications
    Education
    • Associate's degree in accounting or business administration or related field required or
    • Equivalent combination of education/training and experience will be considered required
    Experience
    • Administrative management experience required
    Licenses and Certifications
    • No special certification registration or licensure required
    Knowledge Skills and Abilities
    • Excellent written and verbal skills sound judgment and budgeting and accounting skills with the ability to effectively prioritize and multi-task in a fast-paced work environment.
    • Extremely honest and trustworthy individual of high moral character.
    • Significant aptitude in independent and proactive problem-solving and effective and efficient utilization of resources.
    • Service-oriented approach.
    • Proficient in Microsoft Excel Powerpoint Word Outlook and claims management program billing applications (Donegal and Harvard RMF CMAPS programs).

    This position has a hiring range of
    USD $65,062.00 - USD $117,291.00 /Yr.

    What Medstar Health employees say

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    About Medstar Health

    Sourced by ZipRecruiter

    MedStar Health is dedicated to providing the highest quality care for people in Maryland and the Washington, D.C., region, while advancing the practice of medicine through education, innovation, and research. Our team of 32,000 includes physicians, nurses, residents, fellows, and many other clinical and non-clinical associates working in a variety of settings across our health system, including 10 hospitals and more than 300 community-based locations, the largest home health provider in the region, and highly respected institutes dedicated to research and innovation. As the medical education and clinical partner of Georgetown University for more than 20 years, MedStar Health is dedicated not only to teaching the next generation of doctors, but also to the continuing education, professional development, and personal fulfillment of our whole team. Together, we use the best of our minds and the best of our hearts to serve our patients, those who care for them, and our communities. It's how we treat people.

    Industry

    Health care and social assistance

    Company size

    10,000+ Employees

    Headquarters location

    Columbia, MD, US

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