Degree Overview: Master of Business Administration (MBA) Degree in Healthcare Systems
Majors Overview May 17, 2015Get information about Master of Business Administration (M.B.A.) degree programs in Healthcare Systems and their education requirements, coursework, career choices, job and wage outlook, and continuing education choices.
Master of Business Administration (M.B.A.) Programs in Healthcare Systems
Professionals currently working in the medical industry could benefit by enrolling in MBA programs specializing in the healthcare system. The curricula in these programs typically include traditional MBA courses in healthcare-related subjects. Students are exposed to traditional business concepts, like finance and operations, in addition to the regulatory, political, cultural and ethical aspects of healthcare.
Students usually take two years to complete these programs wherein applicants for admission are expected to have undergraduate education. These programs may feature a combination of classroom and online formats. Some programs may supplement faculty teaching with instruction from established leaders of the industry. Apart from coursework, independent research and capstone projects may also have to be completed.
Education Requirements
Admission criteria typically require incoming students to hold a business-related bachelor’s degree. Applicants may also be expected to have professional work experience and may have to submit GMAT or GRE test scores and letters of recommendation. Sponsorship letters from the student’s employer may be a requirement at some schools.
Coursework
Core coursework imparts broad knowledge to equip students with management skills and decision-making models. Students use electives to tailor the curriculum according to their career requirements. Thus, they acquire the decision-making tools, problem-solving skills and knowledge necessary for healthcare leadership. Core coursework may include topic areas such as:
•Probability modeling
•Economics
•Statistics
•Accounting
•Hospital management
•Healthcare policy and law
Career Choices
Students enrolled in MBA degree programs specializing in the healthcare system are prepared to assume business management roles in the healthcare industry. Aspiring professionals seek to have the practical skills they would need for the management of the business facets of healthcare organizations, such as health insurance companies, nursing facilities and hospitals. They could choose from common job titles such as:
•Strategic director
•Financial operations director
•Medical director
•Healthcare management auditor
Job and Wage Outlook
Over the 2012 – 2022 decade, a job growth of 23% has been predicted for medical and health services managers (U.S. Bureau of Labor Statistics). In May 2012, managers working for hospitals brought in an average annual wage of $97,330 while those working in nursing care facilities earned $82,240 (BLS).
Continuing Education Choices
Schools offer doctoral-level degree programs in the healthcare field – typically culminating in a Doctor of Health Administration (D.H.A.) or a Ph.D. – for those seeking careers as healthcare policy makers, senior healthcare business leaders, and in university-level teaching roles.
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