Why Earn an MBA in Healthcare Management?

What are some reasons that motivate the career-minded to consider the healthcare field? Great job prospects. Good earnings. A sense of fulfillment from helping people. If you are looking to advance in the healthcare profession, then an online MBA in healthcare management might be right for you.

This degree prepares students for a career tending the administrative details of hospitals, medical laboratories, physician practices and other healthcare facilities. According to a Chron article, administrator duties will vary by job title and type of facility. For example:

  • Nursing home administrators must be licensed, as they manage the business concerns as well as the residents of nursing homes.
  • Clinical managers oversee specific departments such as surgery or the pharmacy in a hospital or large facility.
  • Health information managers organize, maintain and keep patient records secure.
  • Assistant administrators work under department heads. Their responsibilities typically include collecting and processing medical records.

Job Outlook

The U.S. Bureau of Labor Statistics Occupational Outlook Handbook projects jobs in healthcare management will grow 18% from 2018 to 2028, much faster than the average for all occupations. It places the median annual salary for medical and health services managers at $99,730. Contributing to the growing demand for healthcare managers is an aging Baby Boomer population.

Programs like Fitchburg State University’s online Master of Business Administration in Healthcare Management are becoming increasingly popular for their ability to equip degree seekers with managerial and leadership skills required for the healthcare space.

Benefits of an MBA

Graduates of the Fitchburg State program are prepared for the high-growth healthcare management market found in hospitals, healthcare practices and even biotech firms by being armed with a strong background in healthcare marketing, finance and legal issues.

An MBA in healthcare management prepares graduates for senior-level jobs in the public and private sectors. Hospitals, clinics and medical colleges are examples of healthcare facilities and institutions with these opportunities.

A key advantage of a healthcare management MBA is that core skills offer flexibility in career paths.

“In a down market, companies are always looking for workers that can perform multiple duties as the market demand shifts,” says a HealthcareAdministration.com article. “Healthcare MBA programs expand your knowledge of business in healthcare, finance, strategy, management, ethics, global business and much more.”

The best thing about an online advanced degree like the Fitchburg State University MBA is that it enables those with family and job responsibilities to earn the degree while working full time. The program is much more flexible and affordable than similar degrees at brick-and-mortar institutions and can be completed in as few as 12 months. MBA programs at Fitchburg State University are accredited by the International Accreditation Council for Business Education (IACBE).

Learn more about Fitchburg State University’s online Master of Business Administration in Healthcare Management.


Sources:

Chron: What Are the Duties of a Health Care Manager & Administrator

U.S. Bureau of Labor Statistics: Occupational Outlook Handbook – Medical and Health Services Managers

Online MBA Page: Masters in Healthcare Administration Vs MBA

HealthcareAdministration.com: 7 Reasons to Pursue a Healthcare MBA

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