A Master of Business Administration (MBA) is an impressive accomplishment that indicates to the world and to prospective employers that you’ve attained a full understanding of all of the intricacies of the facet of business in which your program is focused. It typically takes about two years of full-time study to complete.
What is a Master of Business Administration (MBA) in Healthcare Management?
The field of health and human services is rapidly growing and changing with new ideas and new technologies. Attaining a master’s degree in the management of that field means mastering the skills required to find new and innovative ways to address the challenges of that industry.
It might mean learning the intricacies of the technology in use in the field and the current laws governing it. You might also find that you become skilled in the practices of the industry related to patient liaison, human resources, computer sciences, and more.
The benefits of such a program can be far-reaching. You might improve skills such as decision-making, critical thinking, and organizational dynamics that are helpful in your personal as well as professional life.
The programme aims to produce executives skilled in administration and health economics. More specifically, it covers a wide range of knowledge and skills, necessary for health professionals, dealing with administration and finance, both in design and planning, as well as in the management of health services.
In addition to the expertise and technical skills, the programme teaches the analysis of strategies, measures and actions aimed at developing the health sector, within the wider context of social policy.
The cost of an MBA program can be very different from school to school and region to region. Check with your preferred institution to ascertain its specific pricing.
Careers in the field of healthcare management range from private to government to freelance. You may be qualified for a position in a hospital or healthcare facility in a management capacity, as an operations director or finance manager.
The degree may open doors for you at a federally funded or government-sponsored healthcare provider, or in a branch of government that serves and regulates the healthcare industry, as a controller or quality manager.
Alternatively you might seek employment as a consultant to other businesses, working in the short-term to overcome specific obstacles and set up new processes and procedures.
Schools around the world offer programs like this one, both on campus and online.
How is a Health Administration Degree Different from a Business Management Degree?
When reviewing degree options in the healthcare field, a degree in healthcare administration might sound similar on the surface to one in business administration.
Although they may have similar names and ultimately both lead to some aspect of business management, the two are indeed very different programs. For anyone curious about the differences between the two degree programs, there are several key aspects to be aware of.
The first and most obvious difference between healthcare administration and business administration is the emphasis. The former focuses on the healthcare field, while the latter focuses on general business. Although that difference is glaring, there are a couple of other significant ones to be aware of.
A healthcare administration degree prepares individuals to manage others in a healthcare setting, which can apply to a few different scenarios. It might mean anything from managing a nursing facility populated with CNAs and nurses to managing a hospital wing with seasoned doctors.
In either scenario, as well as any other, there is a great deal of industry-specific knowledge required. Simply possessing management skills isn’t enough, as nearly any healthcare position would require a great deal of specialized training.
Healthcare administration programs also tend to place the emphasis on the management of people, while business administration can be more varied.
Generally speaking, a business administration degree teaches individuals about all aspects of management – economics, accounting, finance, management and technology courses are all part of the curriculum.
The goal is to prepare students for a number of different fields. This is of course more diversified than healthcare administration, but it doesn’t give the same attention to detail that a health care administration program can.
Both are strong options for Masters programs, but a degree in healthcare administration gives more knowledge about healthcare policy. It’s possible to complete an entire business administration program without ever touching on even the basics of the healthcare field.
This makes healthcare administration a strong option for Masters candidates who might have studied business during their undergraduate program. Someone who studied or has worked in the healthcare field, however, wouldn’t want to pursue business administration unless they were planning to exit the healthcare field.
In short, healthcare administration simply gives more direct preparation for working in the field. Business administration takes a more general approach to preparing individuals for their careers, as it can lead to a number of different fields but with less preparedness.
Ultimately, the two degrees can have a bit of overlap in the job market, but they have very different points of emphasis. While business administration gives students a general preparation for managing or helping to manage a company, healthcare administration offers a more tailored program.
If the goal is to enter or continue in the healthcare field, and management is an appealing segment of the industry, then healthcare administration makes the most sense for degree seekers.