Should You Get An MBA In Healthcare Management? Here’s What To Know Before You Enroll
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Should You Get An MBA In Healthcare Management? Here’s What To Know Before You Enroll

If you’re preparing for a career in the growing healthcare industry or for a leadership role in healthcare management, you can choose from multiple academic pathways. A master of business administration (MBA) in healthcare management is a versatile degree that equips students with practical skills and knowledge in healthcare management and business. These skills can transfer to many industries.

Admission Requirements for an MBA in Healthcare Management

Admission requirements for an MBA in healthcare management vary depending on the school and program. Generally speaking, applicants should hold a bachelor’s degree in a related field such as biology, health science or healthcare administration. They should also meet a minimum GPA and submit transcripts from any prior postsecondary coursework.

Additionally, students may be required to submit letters of recommendation, GRE or GMAT scores, a letter of intent, an admissions essay and a resume or CV.

MBA in Healthcare Management vs. a Master’s in Health Administration

An MBA in healthcare management teaches students general business skills while preparing them to become leaders in healthcare settings. A master’s in health administration (MHA) prepares students for specialized health administration roles in healthcare management, clinical settings and the public health and health policy sectors.

MBA in Healthcare Management Courses

Financial Management

In financial management courses, students learn about capital market theory, long-term investment management concepts and legal and regulatory requirements. Courses typically cover working capital management, investment opportunities analysis, government regulations, financial planning and long-term financing.

Ethical Leadership

Ethical leadership courses provide a framework for assessing management-related ethical matters, along with the decision-making skills required to resolve those issues.

Students examine fundamental ethical theories and concepts, components of ethical leadership, codes of ethics and relevant legal and regulatory requirements. Students develop policies, procedures and practices that cultivate organizational ethics and socially responsible behavior.

Operations Management

Courses in operations management analyze the relationship between operations management, operational efficiency and overall performance. Students learn about the principles of supply chain management and its impact on various business operations. Course topics may include management methods, work systems design and inventory management.

Marketing

Marketing courses explore marketing principles such as marketing research, segmentation and consumer behavior. Students learn about marketing strategies related to products and services, promotions, sales, pricing and distribution channels. They discuss customer relationship management practices, learning to launch effective campaigns and build customer loyalty.

Career Options for an MBA in Healthcare Management Graduate

Medical and Health Services Managers

Median Annual Salary: $101,340

Projected Job Growth (2020-2030): +32%

Job Description: Health service managers plan, coordinate and supervise the delivery of facility-wide or department-wide healthcare. They plan and manage the operations of health clinics and programs. These professionals also supervise clinical teams; remain informed about relevant laws, policies and regulations governing clinical operations; and develop departmental plans to address operational challenges.

Healthcare Sales/Marketing Manager

Average Annual Salary: Around $60,000

Job Description: Healthcare sales/marketing managers direct all sales and marketing activities for healthcare organizations. They use data-driven insight to develop marketing strategies and campaigns, increasing community awareness, enhancing the organization’s brand and meeting organizational goals.

Pharmaceutical Project Manager

Average Annual Salary: Around $95,000

Job Description: Pharmaceutical project managers oversee assigned projects and new medicine research and development processes. They manage the engineers, researchers, doctors and other experts to deliver on-time and on-budget results. Their responsibilities include creating status reports, managing timelines, evaluating project risks and ensuring compliance with regulatory requirements.

Health Insurance Operations Director

Median Annual Salary: $101,340

Projected Job Growth (2020-2030): +32%

Job Description: Health insurance operations directors oversee health insurance programs across multiple service areas. These areas include account installation and implementation; contract administration, enrollment and eligibility; billing, client support; and claim processing. Health insurance operations directors resolve issues within each area and develop policies, procedures and budgets to support the functional infrastructure.

Frequently Asked Questions About an MBA in Healthcare Management

What can you do with an MBA in healthcare management?

An MBA in healthcare management can lead to leadership positions across the healthcare industry. Graduates may work in medical services, manufacturing medical equipment or drugs and healthcare insurance.

Which is better, an MBA or an MHA?

This depends on your interests, skills and professional goals. An MBA is more versatile and equips students with skills relevant to medicine, nonclinical settings and fields outside of healthcare. An MHA prepares students for specialized health administration roles in healthcare management, clinical settings, public health and health policy.

Can you increase your salary with an MBA in healthcare management?

Yes, earning an MBA in healthcare management can lead to a salary increase. Keep in mind that several factors impact salary, including specialization, professional work experience, education and geographical location.

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