An MBA with a concentration in healthcare management can give you several advantages, including credentials to move into leadership roles, greater earning potential, and entry into a growing industry. In fact, the Bureau of Labor Statistics (BLS) projects that the number of medical and health service manager jobs will grow by 20% through 2026. Furthermore, salaries for professionals in the healthcare management field often reach up to six figures.
Earning an MBA with a concentration in healthcare management opens up multiple job opportunities. To those aiming to become the director of a hospital should consider getting their MBA in healthcare management. That said, professionals who graduated with this degree also go on to work for nonprofit and for-profit health organizations as financial managers, consultants, and administrators.
Other colleges and universities offer similar programs; however, CIU’s missional focus coupled with strong core values, a strong online study, student recruitment and support team, a robust yet intuitive Learning Management System, a commitment to meeting the unique needs of the working adult learner, a competitive price point and a compelling vision for the future give CIU a competitive advantage.
- Accepted into Columbia International University's MBA program.
The first job that most people think of in regards to healthcare management MBA degrees is a hospital administrator. They work in all types of medical facilities, including substance abuse centers, physical rehabilitation centers, hospitals and doctors' offices. Administrators are the ones responsible for hiring new doctors, nurses and other types of workers. They place ads online and in other places, screen applications that come in and meet with workers to find those who are best suited for the job. Other duties of an administrator include creating budgets, instituting new policies and following any state of federal laws.
Medical Facility CFO
If you have a strong background in finance and accounting, you might find employment as the Chief Financial Officer of a medical facility. A CFO is someone responsible for looking at the budget of a medical facility and its operating costs to determine if the organization has a surplus of funds or if it needs to cut back on costs. They maintain the financial records of the facility and meet with managers, executives and any directors to update them on the financial details of the facility.
According to the Bureau of Labor Statistics, medical managers earn a median hourly wage of $42.59 or a median annual wage of $88,580. The BLS also estimates that the need for medical managers will increase by 23 percent in the future, which indicates an increase of approximately 73,300 new healthcare management jobs. As one of the more popular types of jobs available with MBA in Healthcare Management, students can better prepare for working in this field with internships at the undergraduate and graduate levels. Managers often run and maintain a specific department in a hospital, but they may be responsible for all departments. They handle duties relating to budget, scheduling and keeping workers informed of any new changes.
Health Information Manager
One of the jobs available with MBA in Healthcare Management that might interest you is the job of health information manager. Those working in this field have one primary goal in mind: the spread of information. You'll often find these positions available in large hospitals and in organizations that own multiple medical facilities. Managers take the information presented by the board of directors and shares that information with each department in the facility. They make sure that everyone knows when the board institutes a hiring freeze, a wage freeze or any other policy.
Decision-Making in Health Care Delivery Systems
This course will focus on the application of advanced organizational principles in complex health care delivery environments. Organizational issues, administrative processes and applications are explored. The managerial perspectives of a mid-to senior healthcare administrator are emphasized.
This course provides the foundation for integrating health care finance and managerial accounting. Opportunities for analyzing current and emerging health care financing trends are provided. Practical cost-benefit strategies used in planning, controlling and preparing internal and external reports are emphasized.
Healthcare Legal and Regulatory Climates
This course provides the student with working knowledge of the principal laws, statutes, rules and regulations governing and impacting the delivery of modern health care. Specific attention is given to debating the rationale and effectiveness of certain aspects of modern health care regulation and law, both nationally and on a state and local level.
Accreditation, Quality and Compliance
This course acquaints students with securing and maintaining accreditation of health care providers, the standards and practices to ensure quality, and the methodologies and standards to ensure compliance with accreditation, legal and quality standards. This course will cover the standards imposed on a health care provider by accrediting institutions, government agencies, and other licensing organizations.