MBA in Healthcare Administration

Are you interested in becoming a part of the healthcare sector? If you are, then you may think that the only way you can contribute is by becoming a doctor or nurse. However, there are many other healthcare professionals who work in the background and make sure that the sector runs smoothly. These people are critical to running the day-to-day affairs of a healthcare facility, since they make their decisions based on sound financial and legal reasoning.
Does this sound like a possible career option for you? As the healthcare industry grows, the demand for leaders who specialize in healthcare administration will grow too. Therefore, you may want to consider pursuing an MBA in healthcare administration.

  1. What to Expect from the Program
  2. How to Get Admitted into the Program
  3. What to Study in the Program
  4. Career Outlook after the Program



The role of healthcare administration has become crucial off-late for the smooth functioning of health institutions. MBA in health administration programs are designed to prepare students for administrative roles in the medical sector. You will cover all kinds of relevant topics in this program such as research methodology, health policy management and communications to name a few. MBA in health administration degrees can also be earned online.



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What to Expect from the Program

An MBA in healthcare administration allows students to learn how healthcare works as an industry. As a result, graduates may be hired for managerial roles within the administration of a medical practice and propose solutions to real-life situations.
Students may expect the following learning outcomes from the program:

 

  • Understanding the organizational structure of a healthcare system
  • Identifying and dealing with legal, and ethical issues that may come up in the field
  • Managing the daily operations of healthcare facilities
  • Compiling statistical and financial reports based on healthcare databases

Along with the above, students may also learn how to make critical decisions, apply business principles and effectively exercise leadership qualities within the healthcare administration.

How to Get Admitted into the Program

Students who wish to enroll in an MBA program in healthcare administration may find that requirements vary from program to program. They may further vary if the program is online or part-time. Typically though, those who wish to apply may need to submit the following:

 

  • Undergraduate transcripts showing a minimum GPA of 3.0
  • GMAT or GRE scores
  • TOEFL scores for international applicants
  • Letters of recommendation from professors or employers
  • Statement of purpose, detailing how the program is in line with their future goals
  • A resume demonstrating work experience (this may not be required by all programs)

Although usually not required, students may also find taking some pre-requisite courses helpful, such as introduction to business or hospital law and ethics. Finally, remember to apply for a program that is accredited by The Association to Advance Collegiate Schools of Business (AACSB). Receiving degrees accredited by this association will show to future employers that you have received an education that is reputable as well as training that has equipped you to deal with the challenges expected in the healthcare workplace.

What to Study in the Program

A typical MBA in healthcare administration program takes about 2-3 years to complete and may include another year of supervised administrative training for experience in the form of a residency or fellowship. For the program, you may be required to complete at least 51 semester hours worth of courses.
The curriculum for this MBA program will consist of both core as well as specialized courses. Examples of these may include:

 

  • Leadership and management
  • Healthcare systems
  • Healthcare economics and finance
  • Marketing and operations
  • Health policies and regulations

It’s recommended that you contact your program’s advisor after admission in order to plan your schedule and understand the courses you should take which are in line with your future career plans.

Career Outlook after the Program

While the degree may not guarantee a job, an MBA in healthcare administration may prove fruitful for your career after graduation. This is because healthcare administrators are in high demand and are hired by hospitals, nursing homes and group medical practices. For more detailed information, you could consider the following statistics below:

  • 315,500 healthcare administrates were employed as of 2012
  • The average annual salary for such professionals amounted to $88,580 per year. Top-earning professionals earned as much as $150,560
  • The growth rate projected for such jobs is 23% for the decade 2012-2022. This is a much higher figure than average growth rates for all occupations – The U.S. Bureau of Labor Statistics (BLS)

However, it is important to note that the salaries earned by healthcare administrates may vary depending on the kind of facility they work for and their level of administration. For example, according to the Medical Group Management Association’s 2012 report, the average salary for administrates in practices with 6 or less physicians was $87,862; in practices with 7-25 physicians it was $126,478; and in practices with at least 26 physicians it was $148,604. Also, it may depend on whether these professionals work full-time or part-time. Their services may even be required during emergencies, on weekends or overnight.
Working as part of the administration in a healthcare facility may be worthwhile for you in a number of ways. Not only could it be challenging—depending on how sharp your management skills and business acumen is—but it could also be emotionally fulfilling, saving people’s lives as only an efficiently run medical practice can.

Sources

“Online Healthcare MBA Degree - George Washington University - http://healthcaremba.gwu.edu/“
“Health Administration MBA - University of Colorado Denver - http://www.ucdenver.edu/academics/colleges/business/degrees/mba/health-admin-mba/Pages/Degree-Requirements.aspx“
“Medical and Health Services Managers : U.S. Bureau of Labor Statistics - http://www.bls.gov/ooh/management/medical-and-health-services-managers.htm#tab-3“
“Medical and Health Services Managers : U.S. Bureau of Labor Statistics - http://www.bls.gov/ooh/management/medical-and-health-services-managers.htm#tab-5“

 

IMPORTANT:
The salary figures mentioned above are taken from Click Here
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Q:Which scholarships are specific to the MBA in Healthcare Administration degree programs?

A:In the United States, the scholarships that are specific to the MBA in Healthcare Administration degree programs include ones that are offered by National Health Services Corporation, Tylenol, Pfizer, Association of University Programs in Health Administration, Medical Group Management Association, American College of Healthcare Executives and the Institute for Diversity in Health Management.

Q:Are there any universities that accept admissions for the MBA in Healthcare program solely on the basis of GMAT test results?

A:The Graduate Management Admissions Test (GMAT) scores can be quite important in reviewing an applicant for admission in the MBA in Healthcare program. However, the admission decisions can't be made entirely on that basis. Other things like the applicant's professional achievements and past academic record are also considered.

Q:Can you give me a brief outline of the coursework for MBA in Healthcare Administration?

A:The coursework for MBA in Healthcare Administration includes subjects like health policy, management of healthcare organizations, population health, leadership, organizational behavior and healthcare marketing and communications.

Q:What type of jobs can be found after obtaining the MBA in Medical Administration degree?

A:The MBA in Healthcare Administration or Medical Administration program enables students to concentrate of a particular discipline such as: Health Industry Leadership or Health Services Administration. This 2 year degree can add immense value to your resume and enable you to get hands on job positions including Healthcare Facility Manager, Hospital Administrator, Clinic Supervisor and Healthcare Consultant.

Q:What are my career opportunities after getting a Healthcare Administration MBA?

A:As an MBA in Healthcare Administration is a higher education administrative degree, you will be able to find administrative positions in multiple healthcare settings. These positions will put you in charge of handling the administrative procedures and day to day management of hospitals, private clinics, therapy centers, rehabilitation centers or diagnostic centers.

Q:What is the duration of Health Care Administration MBA degree?

A:The MBA in Health Care Administration degree program can be completed in two years, typically. The duration can differ if the program is pursued in a different type of graduate program such as the online, executive, and accelerated programs. If opted in the accelerated program the MBA in Health Care Administration can be completed in 18 months, the executive program takes more than three years, and the online degrees are self paced, hence there is no specified duration for online programs.

Q:Can I get MBA in Healthcare Management Pfizer Epilepsy scholarship?

A:If you are looking for the Pfizer epilepsy scholarship on the basis of MBA in Healthcare Management then the answer is yes. To be eligible for the epilepsy scholarship by the pharmaceutical giant, you need to be suffering from epilepsy and be under medication of the products by Pfizer. You also need to present the doctor's letter of recommendation which needs to be aptly attested and stamped, prior to applying.

Q:Can you please tell me what is taught in the Statistical Analysis course of the best online executive Masters in Healthcare Administration degree program?

A:The best online executive Masters in Healthcare Administration degrees in the United States have a dedicated course on Statistical Analysis. This 5 credits worth course focuses on various contents of stats such as distributions, dispersion, probability distribution, sampling and testing, probability progression as well as hypothesis testing and measures of location.

Q:Do I need to have previous work experience to undertake a MBA in health administration?

A:Before you undertake most MBA programs, it is normally a pre-requisite that you have spent some time working in a business environment. Though, some schools are willing to waive this requirement, it is recommended that you have gained some experience in health administration as it will help you to put the material in context.

Q:I want an interactive learning experience for my MBA health administration. Is distance learning option suitable for me?

A:Most students want to go to on-campus schools for their MBA in health management degrees as they believe that it will hone their communication and leadership skills. This can also be achieved through online programs employing video lectures as a mode of instruction. You can interact with students from around the world through message boards. Many schools now also require that you contribute a minimum number of posts every week on forums. This will greatly enhance your written communication, persuasive and leadership skills.

Q:What is the course structure for MBA healthcare administration?

A:It takes about 2 years to complete an MBA of Healthcare Administration and students are taught the basics of healthcare administration in the first year. This involves teaching them the traditional MBA courses which help them get into jobs pertaining to managerial and decision-making mindset. During the second year coursework is more focused on healthcare administration and technical training in the tools needed in the healthcare sector.

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