An online MBA in healthcare management can lead to a satisfying career for those with a passion for helping others and leading a team. An online MBA can prepare graduates to work in the healthcare industry, tasked with overseeing operations, managing employees, and marketing healthcare.
This guide includes information about obtaining an MBA in healthcare management and the lucrative salary professionals can expect with this career.
What Is an MBA in Healthcare Management? FAQs
An MBA in healthcare management can help graduates stand out among other professionals in the job market. While pursuing an MBA in healthcare management, students learn business skills like marketing, management, and finances.
Graduates often work within healthcare facilities, or the health insurance industry, holding titles like healthcare administrator, insurance coordinator, and hospital associate director. These important careers involve interacting with patients, hospital staff, and insurance providers, while maintaining efficiency and organization on the floor.
An MBA in healthcare management can help graduates stand out among other professionals in the job market.
Earning a master's in healthcare management or an MBA in healthcare equips graduates with a similar skill set, but an MBA offers more benefits. The MBA in healthcare's emphasis in business prepares learners to excel in areas that a master of healthcare management does not provide.
Although students enrolled in a master of healthcare management also learn business practices, the MBA structure allows students to further explore the content area. Business knowledge plays a vital role in this field, and strong management skills are necessary for success. An MBA can impress employers and show the applicant takes pride in strengthening their leadership skills.
Why Should You Get an Online MBA in Healthcare Management?
Returning to school to receive a master's degree poses challenges for certain degree candidates. Some students must continue working or tend to personal responsibilities while studying. Online learning makes returning to school possible and continues to be more common for master's candidates. Finding a strong online MBA in healthcare management allows learners from all backgrounds to obtain a quality degree.
After completing an MBA in healthcare management, graduates enter into a field with positive job prospects. In fact, the U.S. Bureau of Labor Statistics (BLS) shows job growth for managerial, financial, and insurance careers at a faster rate than average.
Degree holders also enjoy lucrative careers with opportunities for promotions and pay raises. In fact, the BLS reports that the median salary for medical and health services managers is at $99,730, while insurance underwriters earn a $69,380 median salary. Continued education often impacts these numbers, which means earning a master's degree may result in higher pay.
Many professionals opt out of higher education. In fact, according to O*Net Online, 65% of medical and health services managers hold only a bachelor's degree. A master's degree can help professionals stand out among other candidates. In addition, earning an MBA in healthcare management also prepares individuals to take on more responsibility with a higher salary. An MBA in healthcare management also equips professionals to lead healthcare management teams.