The Healthcare MBA is a specialization within the MBA program, designed for students that want to apply a primary field of study to a particular sector of the healthcare industry, such as finance, marketing or IT. When researching MBA schools and programs, there are some important factors to consider:
University of Phoenix – Online Associates, Bachelors, Masters Program. A pioneer in distance learning, University of Phoenix offers a full range of healthcare administration programs with a variety of specializations. University of Phoenix is accredited by The Higher Learning Commission and is a member of the North Central Association. University of Phoenix was placed on Notice by The Higher Learning Commission, effective June 27, 2013. For additional information, contact The Higher Learning Commission, ncahlc.org
Kaplan University – Online Bachelors, M.B.A. Program. As one of the largest online universities with a world-class reputation, Kaplan University offers healthcare administration degree programs geared toward busy individuals. Kaplan University is accredited by the Higher Learning Commission and is a member of the North Central Association of Colleges and Schools.
Surveys show that the number one factor when choosing a business program is its reputation and ranking. And while attending a highly ranked b-school by no means guarantees success, it’s important to know where a program stands so you can be sure you’re receiving a valued, high quality education. Some resources for finding program rankings are:
- Businessweek – A list from Bloomberg Businessweek that ranks and profiles the best part-time and full-time MBA programs.
- US News and World Report – US News analyzes more than 1200 graduate programs across all disciplines, including healthcare.
- Princeton Review – Princeton Review surveys over 19,000 students at 294 business schools to compile a list of the best business schools.
- Financial Times – Financial Times provides a comprehensive list of management program rankings.
It’s important to remember that there are other factors that collectively weigh more than the ranking of a healthcare MBA program. Consider a program’s culture, classroom size and setting, and how the program matches up with your long term career goals.
Accreditation for MBA schools is administered through private groups such as the Association to Advance Collegiate Schools of Business (AACSB), the Accreditation Council for Business Schools and Programs (ACBSP) and the International Assembly for Collegiate Business Education (IACBE). Attending a MBA program from an accredited university is important for students because it increases the value of their business degree and for employers because they get employees that have had a quality education. Some questions to ask when looking at a program’s accreditation are 1) how long has the program been accredited and 2) who are they accredited by?
Graduate programs aren’t cheap, and tuition will vary based on a multitude of factors, such as program length, location and school ranking. Some programs, such as the Baruch/Mt.Sinai Graduate MBA Program, cost $15,000 dollars a year, while others, such as Yale, have an all inclusive, two year cost (In Yale’s case, $142,000). A Healthcare MBA is a major investment, but there are plenty of resources to help you pay your way through school. Below are some of the top resources for healthcare MBA scholarships and loans:
Begin searching for scholarships as soon as possible, and apply to as many as you qualify for. Be sure to visit each university’s site and check for private scholarships, grants and awards.