Executive MBA in Healthcare Management
Why take up MBA in Healthcare Management?
One of the Largest & most flourishing industries globally – The global healthcare market was valued at $8,452 billion in 2018 and is expected to grow at 8.9% every year to nearly $11,908.9 billion by 2022. Millions of healthcare experts will be needed to meet this growing industry demand.
High Demand Post-Pandemic – The need for healthcare, doctors, nurses hospitals, medicines, and all related professions will continue to prevail, especially in the new post-pandemic world order. Hence the everlasting demand for management leaders in the healthcare sector will also continue.
Global Mobility, Migration & PR – The acute shortage of healthcare innovators in the developed countries with aging populations, has resulted in immigration-friendly policies, competitive career opportunities, and Permanent Residency pathways.
Job Satisfaction & Noble Profession – Positively impacting the lives of people and giving back to society while earning the respect of the masses and getting paid handsomely, leaves one with a true sense of accomplishment.
The Competitive Advantage – Despite the hard economic downturn in the last decade, one thing still holds – those who pursue higher education have an easier time obtaining employment than those who don’t. GMAC, the Graduate Management Admissions Council, says that 88% of 2010 MBA class members report they have a job after graduation and three-quarters of them consider their graduate business degree essential to finding that job. It’s no surprise that more than 95% of students reported that the MBA degree is an “outstanding value addition” and an investment that more than pays for itself.
Impressive Income Potential – The salary potential for a person with an MBA in Healthcare Management is relatively large. According to the USA Bureau of Labor Statistics, the average medical and health services manager’s salary is $88,580, and it can reach more than $150,560. Employees with a master’s degree can expect to earn as much as 25 percent more than employees with a bachelor’s degree.
Various career options for MBA in Healthcare Management
Graduates of MBA in Health Care Management would have transitioned from clinical practice to administrative roles, been promoted to a management or supervisory position in their current department, or moved to a larger department. Some of the incredible opportunities that will then present themselves would be: Opportunities – Health Care Administrator, Health Care Manager, Program Director, CEO, COO, Director of Development, Medical Compliance Officer, Patient Safety Manager, Insurance Claims Manager, Medical Inventory Manager, Document Control Officer, IT Systems Manager, and Quality Assurance Officer
Interesting alternatives of sub-sectors to pick from – Hospitals, clinics, or medical offices, Pharmaceutical companies or laboratories, Biotech health services, Insurance organizations, Health care consulting firms, Government agencies, and health maintenance organizations
The Industry – oriented curriculum is designed to enable the application of legal & economic aspects in healthcare, basics of medical terminologies, anatomy & physiology. It helps achieve critical thinking, planning, and leadership skills for managing operations, assuring quality, and working with policies and regulations in the healthcare establishment.
Essentially, the health care sector is characterized by constant reforms aimed at the efficient delivery of safe, effective, and high-quality care. Effective leaders and reformers will always remain central to driving changes at all health system levels to actualize the goals of the ongoing reforms in health care institutions.