Master of Business (MBA) programs in healthcare management are designed to prepare students to oversee operations and services in healthcare facilities. MBA students pursuing this concentration explore principles of business, marketing, finance, and effective management as they relate to the U.S. healthcare system. They also learn about the relationship between insurance companies, medical professionals, and patients, and they analyze how these relationships impact healthcare facilities. Like most MBA concentrations, a healthcare management specialization may include an internship or other hands-on experience.
In order to apply, students must hold a bachelor's degree and submit GRE or GMAT scores. They must also have relevant work experience.
Master's Degree in Healthcare Management
In these programs, students can expect to take courses in some of the following topics:
- Healthcare planning
- Business management
- Human resources management
- Healthcare systems operations
- Hospital organization
- Accounting and budgeting
- Health economics
- Health information systems and healthcare policy
- Ethical decision-making
Popular Career Options
Graduates of these programs are qualified for leadership positions in hospitals, healthcare agencies, insurance companies, and government agencies. They can also seek opportunities in the pharmaceutical, biotech, or health insurance industries. Some possible job titles include:
- Quality improvement manager
- Healthcare administrator
- Insurance coordinator
- Hospital associate director
- Pharmaceutical sales consultant
Employment Outlook and Salary Information
The Bureau of Labor Statistics (BLS) estimates that employment for medical and health services managers will increase 18% from 2018 to 2028, which is much faster than average (www.bls.gov). The median annual salary for these managers was $99,730 as of May 2018.
Individuals can keep their knowledge up-to-date by completing graduate certificate programs in health care management. Certificate programs can inform graduates of cutting-edge advancements in the healthcare management industry. A graduate interested in focusing on research can pursue a Ph.D. degree in health care management and economics.
In summary, an MBA in healthcare management provides a mix of advanced business training and healthcare-focused studies. Upon graduation, students can pursue leadership positions in the healthcare field or further graduate-level studies.