MBA in healthcare management: All you need to know

A Master of Business Administration degree trains students with professional work experience to become leaders in different areas of business.. If you want to excel, pick the proper program with the right specialization. There are numerous specialty areas in MBA programs, but choosing the appropriate one will open up chances with decent pay and security. Most graduate-level degrees in the area are only concerned with the demands of today’s healthcare organizations and how those needs will evolve. Clinical human resources, medical group administration, pharmaceutical firms, hospital and health system management, care management organizations, and other graduate job options are available. So, if you’re considering completing an MBA in Healthcare Management, we’ve crafted a guide with all the information you’ll need to get into a good university.

What exactly is an MBA in Healthcare Management? 

An MBA in healthcare management covers the plan and systems involved in growing and operating a healthcare business. Students in this program learn how to strengthen internal and external collective systems. This degree allows you to be eligible for careers in hospital management, hospital administration, and even top positions in hospitals and pharmaceutical firms. 

Eligibility for an MBA in healthcare management 

To acquire a degree in Healthcare Management, students must meet the eligibility criteria. The admission requirements and eligibility criteria for an MBA in hospital management are as follows- 

• Two to three years of work experience with a four-year bachelor’s degree 
• English Language Proficiency Test (IELTS or TOEFL) 
• A Student Visa 

These are some prerequisites that an overseas student must meet to get admitted to the best colleges.

Top MBA colleges in Healthcare Management 

The best way to acquire the skills required for healthcare management is to pursue a graduate degree in the field and learn the regulations and commanding management styles that will keep healthcare organizations within their budgets while meeting customer care standards and producing excellent results. Here is the list of the top universities offering an MBA in healthcare management:

Boston University

Boston University is one of the best and largest universities in the United States. The program combines a solid education in health sector management with the flexibility to improve understanding and skill sets in the student’s area of interest. In addition, through their broad Health Sector Mentoring Program, students can engage with health sector executives and programs dispersed across the sector and the country.

Duration: 2 years

Program Fee: 58,560 USD/ year

Clarkson University 

Clarkson University is a national research university, and the MBA in Healthcare Management is a degree that will propel international students forward. The MBA in Healthcare Management is one of only 28 programs in the country that offer both AACSB(Association to Advance Collegiate Schools of Business) and CAHME(Commission on the Accreditation of Healthcare Management Education)  certification. The curriculum is designed to help students grasp the complexities of the healthcare system and succeed in health and health-related facilities easily.

Duration: 1 to 2 years

Program Fee: 37,568 USD/ year

Salem University 

The Higher Learning Commission has accredited Salem University. The online MBA, with a focus on the Healthcare Management curriculum, prepares international students for advanced business positions with healthcare providers and healthcare-related enterprises. 

MBA courses are included in the curriculum to assist students in making decisions based on a grasp of the healthcare monitoring environment, financial demands, and patient service goals.

Duration: 1-year

Program Fee: 14,160 USD/year

Yale University–New Haven, Connecticut

A premier healthcare MBA program is available at Yale School of Management. It is planned for working healthcare professionals who want to be leaders and innovators in the industry. Students finish an integrated core curriculum throughout the first year of the program. They also take part in the Colloquium on Healthcare Leadership, which is a series of discussions with industry executives. The second year is spent pursuing advanced business and healthcare courses. It concludes with a capstone course that ties everything together.

Duration: 2 years

Program Fee: $21,050 per year 

Cornell University 

The Executive MBA/MS in Healthcare Leadership dual degree program at Cornell University’s SC Johnson College of Business, is our top pick for a healthcare MBA. It is an Ivy League university’s only program of its kind. Students graduate with an MBA as well as an MS in healthcare leadership.

Duration: 2 years

Program fee: $29,500/year

Scope of MBA in healthcare management

In the coming ten years, analysts projected an average of 51,800 opportunities for medical and health services managers.. Many jobs are created due to workers who move jobs or leave the workforce.

Employers will employ roughly 429,800 medical and health services managers in 2020. 

The following companies hired the most medical and health services managers 

• State, local, and private hospitals: 33% 
• Physicians’ offices: 12% 
• Nursing and residential care facilities: 10% 
• Government: 9%
• Outpatient care facilities: 7%

Key takeaways

• MBA in Healthcare Management is a two-year post-graduate management degree program that prepares students to manage various activities in hospitals, pharmaceutical businesses, and other healthcare systems.
• An MBA in healthcare qualifies you for top positions in hospitals and healthcare organizations.
• It provides the ability to take on positions as a consultant, giving you a lot of freedom and the chance to make contacts.

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FAQs

Q1. Why get an MBA in Healthcare Management?

Answer: An MBA in Healthcare Management provides professional expertise in the industry. It teaches candidates how to deal with diverse divisions of the industry. In today’s world, joining a healthcare firm does not require a clinical or medical degree.

Q2. What are the employment options for someone with an MBA in healthcare management?

Answer: MBA Healthcare Management students have numerous employment options, including positions in industries such as health insurance, healthcare information technology, hospital administration, consulting, data analytics, pharmaceuticals, medical devices, and diagnostics.

Q3. Can I get a Healthcare Management Graduate Degree if I have a Bachelor’s Degree in a non-related field?

Answer: A bachelor’s degree in business, nursing, or the liberal arts may enable you to apply to graduate programs in healthcare management.