In 2008, there were more than 615,000 management positions throughout the nation in America’s healthcare industry according to the American College of Healthcare Executives. And, people in these positions were carrying the credentials of obtaining a master’s degree since it has always been highly recommended for job seekers looking for senior, challenging positions in this field. The MBA that focuses on healthcare is the authority credential accepted in this industry. Basically, it is a standard MBA course of study concentrating on business aspects of running any organization but does focus on healthcare issues through inclusion of elective courses.
What To Expect From A Healthcare MBA Program
Individuals interested in seeking advanced management careers in healthcare industry should seek an MBA in healthcare program that offers core training in the facility and business management human resources, information systems management (IT), accounting, finance, marketing, public relations and more. Then students will concentrate on taking courses that particular apply to the healthcare industry. These would include everything from health law, economics, health care delivery systems, insurance and other specifically focused health-oriented subject matter. Some universities also offer a specific pharmaceutical/MBA program that is geared toward preparing professionals tend to the ever-changing management world of the pharmaceutical segment of the healthcare industry.
Manager Employment Is Expected To Grow Rapidly
Middle and upper level management positions are expected to grow rapidly and much faster than what is taking place in the past few years. Therefore, opportunities will abound for the ambitious individual seeking to propel a healthcare management career into the near future. Although some of this expected job growth will actually be in hospitals, a trend has already started for filling the need for management positions in the anticipated growing outpatient care segment that would include physician group practices as well as many home health care businesses. Keep in mind that there also exists in many different sectors related to healthcare an opportunity for an MBA recipient to fill a management position. Look to government agencies and pharmaceutical businesses as distinct areas where this growth will be realized. Furthermore, challenging positions will also need to be filled in areas of managed care support as well as insurance services. The ever-growing and always rapidly changing area of health information systems will also be a place where MBA candidates can turn to finding available employment.
Managers Work In Rapidly Changing And Dynamic Environments
Healthcare industry changes will be driven by new technologies, additional government regulations, financial pressures and an evolving and complex healthcare institutional environment. Therefore, management candidates need to possess a wide range of different and variable competencies. So, professionals seeking advanced education leading to a healthcare MBA should turn to business schools since they traditionally provide greater advantages in core management competencies and can arguably prepare students much better for careers in healthcare finance marketing and information systems. Although an alternative to obtaining an MBA has been the MHA (Masters of Health Administration), a recent trend has been seen toward a greater focus on the MBA course of study since it provides this. more in-depth business administration development. The MHA has been a popular choice for candidates seeking greater training in the culture and operations of healthcare facilities. These types of programs also provide a perspective leaning toward population-based subject matter including epidemiology and public health, subjects that are important for management of HMOs and other businesses strictly dedicated to managed healthcare.
A Shift In Healthcare Management Training
According to the American College of Healthcare Executives (ACHE), job share held by professionals trained in business, health science and other settings has been shifting since 2010. This back in the 1990s, graduates of business programs gained a greater market share of positions according to the ACHE. It had remained relatively steady in the past 20 years. But, individuals with a graduate business degree only accounted for approximately 24 percent of the new members joining this organization in 2010. New members with graduate degrees in health and hospital administration accounted for about 47 percent of new members. Also, members with an MBA also holding an M.D. or an MHA or other events clinical degree have also been on the rise pointing to the age of specialization as being a permanent focus now and in years to come.
Healthcare Management Has Been A Natural Experiment
Pure business science has been competing with health science and both have been evolving since the mid-20th century. Although obtaining MHA has produced some comic qualifications and credentials for higher-level healthcare management positions, this evolution has not produced a clear verdict that a Healthcare MBA program would not be the preferable route to take. Although the argument can be for business schools having the greater resources, and quality ones at that, many of these same business schools are starting to realize the “gold” that can be found offering focused study in healthcare management issues since this is by far the largest and fastest growing employment sector in the country to date.
Healthcare professionals seeking to enter into upper-level management should consider their career requirements and goals and they just realized that an MBA Healthcare degree will eventually get them where they intend to go.