According to the Bureau of Labor Statistics, MBA-prepared healthcare management professionals often work in government agencies, hospitals, physician offices, long-term care facilities, and private practices. These management-focused individuals can also find work in administrative roles outside the healthcare industry.
To determine if an online MBA in healthcare management program is the right fit, consider the following aspects of each program.
Coursework
Whether you enroll in an online MBA program or attend classes on campus, a business degree requires great self-discipline and time management. But pursuing such an advanced degree can pay off in the long run, with professionals at the top of their fields earning much more than their counterparts who do not have MBAs.
As hospitals, healthcare systems, and individual providers navigate a multitrillion-dollar industry landscape, they need skilled leadership to meet emerging business challenges. Obtaining an MBA in healthcare management can give you the tools to lead transformational change.
Before enrolling in an online MBA in hospital management, you should determine whether this credential aligns with your career goals and research the specific requirements for admission. For example, some programs prefer applicants with bachelor’s degrees in business, while others allow students with non-business degrees to enroll. Also, consider tuition costs, which vary by program and school. Typically, private schools charge more per credit than public colleges that maintain in-state tuition policies.
Career Opportunities
MBA graduates specializing in healthcare management may find employment in various business settings, including the financial industry. The degree teaches students how to manage and lead in a complex industry where decisions have long-term implications.
The MBA program also includes general business management concepts that can apply to various industries. For this reason, program graduates can find work outside healthcare in fields such as education and technology.
MBA graduates can take on leadership roles in some healthcare environments, including hospitals, clinics, government agencies, and private corporations. They can also choose to focus on a particular area of the healthcare industry, such as human resources or finance. Those who specialize can often earn more than those who are not specialized. Depending on their experience level and the specific job they choose, they can also receive generous benefits packages. For example, many programs offer their employees tuition remission or reimbursement benefits.
Internships
An MBA degree is the key to getting ahead in many professional fields, especially in healthcare management. Those with an MBA often earn tens of thousands more than their counterparts without one, which could be enough to pay off student loans quickly.
Many online MBA programs offer internships at local healthcare facilities. These include university-affiliated medical campuses, hospital systems, and private practices. They also work with a variety of corporate partners.
MBA students take courses on marketing, accounting, and research methodology. Depending on their degree path, they may also take classes specific to the healthcare industry. Some of these include healthcare economics, health finance, and organizational strategies. Most online MBA programs offer the option of enrolling full-time or part-time, making them a great choice for busy working professionals. They also have options for synchronous or asynchronous learning or a combination of both.
Graduation
Whether you are currently working in healthcare management or seeking to change careers, completing an MBA program with a concentration in healthcare management will help you achieve your career goals. MBA graduates typically earn more than those who don’t have a graduate degree.
Admission requirements for online MBA programs vary by college but often include a baccalaureate degree from an accredited institution and GMAT or GRE scores. Many schools also accept applicants from diverse undergraduate backgrounds and require them to complete prerequisite coursework. Many online MBA in healthcare management programs also offer career resources for students and alumni. Some colleges provide information about these on their website, including the types of employers they partner with and what kinds of jobs their graduates obtain. You can also find out more about what kind of professional organizations the college supports and participates in. These may include student chapters, conferences, and other activities that boost your resume when you apply for a job.
