How to become a chief medical officer

According to the American Association of Physician Leadership (AAPL), the role of chief medical officer was historically a relatively minor, a part-time position, and usually filled by a senior physician whose main objective was to engage with medical staff and get them to perform at a high level and follow administrative policies.

As the delivery of health care has grown more complex, the role of the CMO has also grown. Acting as a liaison between medical staff and administration is still an integral part of the job. However, today’s CMOs also have greater strategic and operational responsibilities and generally bring a more business-minded approach to the role. These executives are tasked with not only improving the quality of care but also curtailing costs and maximizing resources, identifying and coaching future leaders, and helping develop and implement organizational strategy and policy.

Looking beyond health care, businesses in other sectors are also hiring CMOs at a greater rate, as those organizations increasingly recognize the value of protecting the health and welfare of employees, customers, and communities.

Ultimately, chief medical officers have an outsized role in ensuring the success of organizations through the many hats they wear.

Whereas physicians can primarily be described as patient advocates, CMOs divide their advocacy equally between patients and staff. One of the most important roles of a chief medical officer is to navigate the dynamic between the hospital or health system administration and the medical staff. It’s up to CMOs to bring both parties into alignment with organizational goals and strategies, with the overarching purpose of providing high-quality health care at a lower cost.

In acting as an intermediary, CMOs inject a clinical point of view into the organization’s overall vision and strategy, while at the same time communicating administrative direction to medical staff. CMOs lead any necessary changes in the organization’s culture, ensuring that physicians and other hospital staff understand and are on board with any new policies or practices.

Effective CMOs should provide strong support to medical leadership, such as the chief physician and chief nursing officer, as well as be able to identify and nurture future leaders through coaching and mentoring. They must also demonstrate to administrators that investing in leadership development is critical for the organization’s ability to provide consistent and high-quality health care.

Tied into their role as staff liaisons, CMOs are responsible for overseeing health care delivery and ensuring that it’s of the highest quality and safety. They do this by engaging with staff and identifying and implementing performance improvement metrics. Using data from various sources, including electronic health records (EHRs), CMOs identify areas of improvement and work with physicians and other medical staff to reduce variations in care and enhance the patient experience.

In addition to the day-to-day operation of a health system, CMOs are heavily involved in organizational strategy and planning. They bring a clinical perspective to planning discussions and inform other executives of areas of concern and industry trends. CMOs are also heavily involved in budgetary discussions.

CMOs are generally found in public and private health care. However, the position of chief medical officer is becoming more common in other business sectors, from food and beverage production to sports and entertainment. This shift was brought on, in part, by the onset of the COVID-19 pandemic, which challenged business leaders in unexpected and unprecedented ways.

Businesses have begun recruiting CMOs to lend their medical expertise and help them sift through the mountain of (sometimes conflicting) data about COVID-19 and its attendant health and safety guidelines. In addition to making sure that companies comply with varying health regulations — including those unrelated to COVID-19 — chief medical officers promote employees’ physical and mental health and customer safety.

In addition to looking after the health and welfare of patients and staff, CMOs must concern themselves with budgetary matters. As CMO, you’ll have to find creative, cost-effective solutions to organizational issues and use your clinical background to offer insight on technology and equipment purchases, along with other acquisitions and investments.

A CMO should have a strong grasp of metrics and medical analytics, which are often critical in developing and implementing an organization’s vision and strategy. Working knowledge of digital health devices and health information technology is also valuable.

Hospitals and health systems are subject to a large number of federal and state regulations, which a CMO must be familiar with to ensure compliance and protect the organization. You’ll need to be knowledgeable about the Health Insurance Portability and Accountability Act (HIPAA) and the Health Care Quality Improvement Act (HCQIA), among many other statutes, and assist the organization in avoiding any potential legal issues.

Given the demands of the job and the responsibilities that come with it, CMOs generally command a generous salary. The chief medical officer salary is similar to that of other C-suite positions, such as CEO and chief financial officer (CFO).

The U.S. Bureau of Labor Statistics (BLS) reports that the median annual salary for chief executives across all industries was $184,460 in 2019, with chief executives in the field of health care earning $166,410.

According to PayScale — based on an analysis of nearly 400 salary profiles — the pay range for chief medical officers is about $198,000 to $398,000. Factors such as the location and type of the medical facility where the CMO is employed influence salary. Additionally, employers consider a CMO’s background and experience level when determining compensation.

Job growth in the field of medical and health services is exceptionally promising. As the baby boom generation ages and people remain active later in life, there’ll likely be an increased need for health care services. Greater demand for physicians, nurses, and other health care workers will also lead to an increased demand for managers and leaders in the health care industry, including chief medical officers.

The BLS projects that employment in medical and health service management will increase by 32% (139,600 new jobs) from 2020 to 2030 — four times faster than the projected average for all occupations — while employment of top executives will increase by 8%.

If you’re exploring how to become a chief medical officer, first know that CMOs typically need many years of education and on-the-job experience, as well as a diverse skill set, to be successful.

The educational requirements for a CMO position are quite extensive, encompassing several years of medical and administrative studies in pursuit of both undergraduate and graduate degrees.

After earning an undergraduate degree, aspiring chief medical officers will need to earn a degree in medicine. A medical school degree typically involves two years of classroom study and two years of experience in a clinical setting, followed by a residency program. Working in these settings can provide an opportunity to learn valuable clinical skills and exposure to managerial and leadership behaviors that can aid in future pursuits.

Additionally, some CMOs obtain graduate degrees such as a Master of Health Administration (MHA) or Master of Business Administration (MBA). These degrees demonstrate expertise in medicine and administration, and a mastery of both is critical to succeed as a chief medical officer. Some employers require that applicants for CMO positions hold a master’s degree.

Aspiring CMOs must also be board certified in one or more specializations and licensed to practice medicine. Though not typically required, a number of additional medical and business certifications are available to bolster your credentials and distinguish you from other applicants.

For example, the Association of American Medical Colleges (AAMC) offers a 15-month executive training program designed specifically for newly appointed or aspiring chief medical officers. The program dives into the role and responsibilities of a CMO, employing a blended approach of peer learning, mentorship, and independent project work, as well as a mix of in-person and virtual meetings.

As a senior leader in a hospital or health system — making high-level decisions and managing medical staff — a chief medical officer must have significant clinical experience in addition to education. This will allow for gaining the knowledge and skills required to run an organization and demonstrate the ability to make informed decisions in an administrative role.

CMOs must have experience in a managerial role as well. This will provide you with an opportunity to gain vital experience managing staff and tackling various nonclinical issues that can help you hone the administrative skills required of a chief medical officer. Most employers require applicants to have several years of managerial experience.