What is an MBA in Care Management?

Abstract illustration of healthcare data.

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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.

when asking “Which MBA Should I Get?” it helps to investigate differently MBA concentrations† An MBA emphasizes general management knowledge, but MBA Concentrations Focus on Careers in certain industries.

Healthcare management MBAs can lead to positions as hospital administrators, health information managers, medical practice managers, and project management specialists.

Healthcare management MBAs are offered as in-person and online programs. Online study offers flexibility in scheduling. Interaction with classmates and instructions is virtual rather than face-to-face.

It depends on the program structure and method of course delivery.

Many MBA programs suggest that students have two years of previous work experience. Others need only a bachelor’s degree.

Online and on-campus weekend/evening programs allow enrollees to continue working. Part-time study can add time to a degree. Still, it can suit you well if you have work or life responsibilities during your studies.

Some specialized MBA programs, such as healthcare management, can be completed in as little as 12 months. These may suit you if you can study full-time and want to start working soon.

Online education can take place synchronously, with students having to log in at fixed times, asynchronously according to their own schedule or via a hybrid format. Two to three day residencies on campus are not uncommon, even for asynchronous programs.

MBA health management programs typically last two years. Tuition rates per credit range from $430 to $1,700 for both online and on-campus programs. The annual tuition is $7,800-$66,500.

Full-time options are offered on campus and online. Part-time options happen online or in person during evening or weekend hours.

Employers can help you with all or part of your tuition costs if earning the degree benefits your job performance or advancement.

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

  • Billing and Budgeting
  • Patient care and customer service
  • Project management
  • Quality Assurance and Control
  • Personnel management and supervision

People skills you learn

  • Change management
  • Communication
  • Emotional intelligence
  • Professional and ethical integrity
  • Awareness of diversity in the workplace

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.

Health management MBAs are demanding but attainable for motivated, organized and focused students.

Challenges include returning to the staff classroom, coping with increased reading load, and keeping track of assignments and projects. Working students may find it particularly challenging.

Strategies for success include time management, discipline, self-motivation and keeping an eye on the finish line. Setting aside study time, creating a calendar of deadlines, participating in class discussions, and making time for relaxation and self-care can go a long way in staying organized and engaged.

Building relationships with classmates, scheduling face-to-face conversations with your instructors, and taking advantage of networking opportunities through internships can help you now and when it’s time to apply for a promotion or new job.

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

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.

Place

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.

University Resources

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.

Program duration:

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

Cost

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.

Finally

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

Alexandria Tapia, a blond woman, smiles at the camera

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.

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