The business side of healthcare often goes unseen but is massively important to the proper functioning of the system as a whole. Healthcare administrators work at the intersection of health policy and business. They manage healthcare policy and continually tailor it to improve the patient experience.
Earning an MBA with an emphasis in healthcare administration prepares future healthcare leaders for this growing field. Not only is the market massive, but several career path options open up for individuals who earn an MBA that specializes in healthcare administration.
Below are five diverse careers you can pursue with an MBA degree in healthcare administration:
As demonstrated above, the typical range for an MBA degree in healthcare administration salary varies based on the field, seniority level, years of experience, etc. Those with a bachelor’s degree in healthcare administration earn an average of $65,00 annually. However, individuals with an MBA degree in healthcare administration earn an average of $82,938 annually. Furthermore, as the number of years of experience and expertise increases, so does compensation. To put it simply: investing in your education pays. There are several MBA in healthcare administration degrees to choose from, and in an enormous field such as healthcare, it is important to choose the right degree that aligns with your values and educational needs.
Earning an MBA with an emphasis in healthcare administration equips individuals with advanced knowledge and real-world skills to succeed in the business of healthcare. Not all programs are created equal, and there are certain attributes to look for to ensure a program is the right fit for you.
Earning an MBA degree in healthcare administration will position you to be an effective business leader. You should ensure the curriculum has a strong component for building leadership skills that are transferable to the business world.
Possessing leadership skills in healthcare administration is a vital component to keep operations functioning smoothly. A good leader will encourage and embolden staff to pursue and achieve their goals. A strong leader in healthcare administration is especially needed now, in the aftermath of the COVID-19 pandemic. Healthcare workers are looking to their leaders for direction and stability in such uncertain times.
Individual students often have a set of preferences regarding how they like to learn. Some favor an independent educational course, with asynchronous work and the ability to study independently. Some students favor a more collaborative environment, with hands-on instruction from professors and the ability to regularly interact with classmates.
Regardless of where you fall on this spectrum, it is important to be surrounded by supportive faculty and peers when you need guidance.
At Southern, our faculty supports and cares for our students on a professional and personal level. Each teacher is invested in the education and betterment of each student. Our faculty members take time to invest in each future leader, so that they may become well-rounded and compassionate professionals.
Recent advancements, new technological innovations, and the effects of the COVID-19 pandemic have changed the healthcare realm drastically. Leaders in the healthcare sphere must be equipped with the most recent and relevant knowledge that has been brought about through these changes. That is why a cutting-edge curriculum that addresses the pressing needs and integrates revolutionary innovations in healthcare is essential to a quality program.
Innovations such as electronic healthcare records (EHR) are transforming the way healthcare systems manage patient data. This enables providers to know a patient’s entire medical history, enabling them to make an accurate diagnosis with comprehensive background knowledge. EHRs also improve efficiency in healthcare settings, which is often a major goal for a healthcare administrator. As these systems and others become more sophisticated, educational programs must consistently educate their students on the newest innovations.
Furthermore, many frontline healthcare workers are experiencing burnout as a result of the COVID-19 pandemic. Many are looking to their leaders for encouragement and support. A recent consensus statement published by the Administration for Strategic Preparedness and Response outlines 10 essential leadership imperatives to guide healthcare leaders during the post-emergency stage of the COVID-19 pandemic:
These action items are no small feat and require a strong and compassionate leader to implement them. Choosing a healthcare administration emphasis in a program that is backed by foundational leadership will empower you to achieve the aforementioned objectives as a healthcare leader.
At Southern Adventist University, we structure each of our academic programs to combine your passion with God’s purpose. Grounded in Christian values, our MBA In Healthcare Administration program empowers students to the highest level of servant leadership.
There are many options to consider when selecting an MBA program in healthcare administration. It’s a good idea to talk to an experienced counselor who can guide you and help you find the right program.