A healthcare management MBA focuses on preparing graduates to become healthcare leaders in administration, financial management, and project management.
This guide can help you decide if earning a master’s degree in healthcare business administration is right for you. It includes insights into program formats, courses, cost of completing your degree, and skills you will learn.
You will also find a checklist of what to look for in an MBA in healthcare management and return on investment.
Electives in a Healthcare Management MBA Program
Study plans usually start with a year of core MBA courses such as accounting, ethics and law, finance, marketing and business strategy and leadership. You can also study information technology, human resources, management and innovation.
The second year offers opportunities to participate in internships or self-study, complete capstone projects, and choose electives.
Electives can be:
- E-Health Business Models
- Elderly care management
- Global health and the private sector
- Healthcare entrepreneurship
- Medical Device Management and Strategy
- Financial management and performance evaluation in healthcare organizations
Hard skills you learn
People skills you learn
Why Get an MBA in Healthcare Management?
The growth of healthcare organizations and an aging population mean opportunities for graduates of MBA healthcare management concentration. The US Bureau of Labor Statistics (BLS) forecasts a 32% increase in job growth for 2019-2029.
READ THIS: Is an MBA Worth It?
Benefits of taking an MBA in healthcare management include:
- Flexibility: The two-year on-campus MBA is becoming less common in favor of online, evening, and weekend options.
- Skills: MBAs teach key business skills with lectures, projects, and practical internships.
- Return on investment: The average tuition costs for a two-year MBA a total of $72,200 in-state and $98,400 out-of-state. However, the BLS lists a median annual salary for healthcare executives at $104,280.
- Opportunities: Graduates of MBA care management can become clinical managers, consultants, health information managers, hospital administrators, and nursing home administrators.
What should you consider when choosing an MBA in care management program?
When researching and selecting an MBA healthcare management program, consider accreditation, location, cost, and student resources. These factors will help you narrow down your list.
Accreditation means that an MBA in healthcare management program is regularly and rigorously assessed against the curriculum.
Online Business School Accreditation is just as important as it is for on-campus programs.
Location can determine tuition rate, internship opportunities, and commute costs. Consider online MBA programs’ locations too, especially if on-campus intensives require weekend or summer attendance.
MBA students can take advantage of campus resources such as internship placement, access to professional conferences, an alumni network, mentorship, and career services.
Remote students should search for online library and counseling resources.
The typical MBA curriculum spans two years. However, two years of full-time on-campus study gives way to more flexible options. Colleges offer online and hybrid study, weekend or evening classes, and own pace or accelerated learning†
Tuition costs can vary by geographic location, public or private institutional status, and in-state or out-of-state residency. Housing, transport and course material incur costs.
An online program, state university, or rural college can provide savings. Then be sure to apply to MBA Scholarshipsat.
Armed with information, you may be ready to start researching MBA programs.
With so many learning formats, school environments, and flexible class schedule options, you’re sure to find one that fits your academic and professional goals.
This article has been reviewed by Alexandra Tapia, MBA
Alexandra is a driven, cheerful, unashamedly energetic and optimistic person. She is proud of her dedication to becoming a better business leader and person. She has an insatiable appetite for knowledge, asks a million questions and thrives on making change.
She has reached many populations during her career. She has studied recidivism, helped previous criminal offenders reintegrate into society and built trusting relationships while working at a homeless shelter.
Her passion for education is also reflected in her work. She taught younger children for many years, but has since shifted her focus to higher education. She loves working with others to be a disruptor in the education industry, creating and delivering programs that are different from the others – all while building a brighter future for her clients and students.
Tapia is a paid member of the Red Ventures Education Integrity Network.
Unless otherwise noted, job growth and salary data is from the US Labor Statistics Bureau as of June 27, 2022.
Last reviewed on April 26, 2022.