Healthcare professionals with an eye toward boosting their careers would do well to consider an advanced degree in healthcare management.
With a median yearly salary in 2018 of $99,730, according to the U.S. Bureau of Labor Statistics Occupational Outlook Handbook, and a healthy job outlook, an administrative career in healthcare management can provide both fulfillment and financial security.
Fitchburg State University’s online Master of Business Administration in Healthcare Management provides degree seekers with the skills and knowledge necessary for leadership roles in healthcare administration.
Important Skills for Healthcare Leaders
So what skills do potential healthcare leaders need to master? A PeopleFluent article calls the ability to effectively lead people and teams critical for success in any healthcare company.
“A highly variable skill, great leadership requires self-awareness and a particular savvy with interpersonal communication and relationship building,” the article says. “A great leader of people knows how to build teams of talented employees, act with fairness when dealing with direct reports, delegate decision making to develop employee skills and confidence, and coach employees and foster their professional development and career opportunities.”
A true leader uses these skills to create a can-do culture that motivates employee engagement and retention, resulting in patient satisfaction and positive health trends.
The Center for Creative Leadership says healthcare leaders need other important strengths as well:
- An ability to adapt to rapidly changing circumstances in the healthcare industry to meet business objectives
- The willingness to “do whatever it takes” to obtain objectives
- The capacity to be a fast learner who is resourceful, straightforward and composed
Master’s Degree Key to Advancement
A Monster.com article asserts that a master’s degree is needed to move into many healthcare administrative positions. One of the most popular choices is the Master of Business Administration. The article says coursework is lighter on healthcare, with the main concentration on business, including micro- and macroeconomics, strategic planning and human resources.
The article adds, however, that experience is crucial to landing a job. “You need some firsthand knowledge of the daily grind in a hospital or healthcare facility,” says Susan Odegaard Turner, founder of the healthcare consultancy Turner Healthcare Associates.
So you’re eager for advancement. But is the commitment it takes to achieve an MBA in healthcare management for you? Another Monster.com article says you should search deeply for the answers to many questions:
- Are you looking to advance in your current career? Change careers? Decide where an advanced degree will take you.
- How will a graduate degree benefit you? What jobs will it qualify you for? How many graduates of the program really begin employment in those jobs? The article also suggests asking potential employers how they would value a degree program you may be considering.
Can you afford lost income, tuition and fees and possibly student loans needed to attend a brick-and-mortar institution? The answer for many potential candidates is no.
But a much more affordable and practical solution for working professionals may be an advanced degree program such as the Fitchburg State University online Master of Business Administration in Healthcare Management. The 30-credit-hour coursework can be completed in as few as 12 months, and at $12,510 tuition, the program is much more affordable than most two-year, on-campus programs.