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The demand for healthcare managers is steadily increasing day by day and now is the right time for starting a career in healthcare management. Here are the top 5 reasons to study healthcare management degree.
The healthcare industry is growing by leaps and bounds over the past few years. Higher life expectancy, more treatment affordability, increasing lifestyle problems, and anxiety are all contributing to the rapid growth of the healthcare sector.
The sudden onset of the COVID-19 pandemic has put healthcare in the spotlight. Healthcare professionals continue to play a critical role in controlling the disease’s spread and ensuring timely care for patients.
The growth of the medical tourism industry is another reason for the rapid expansion of the Healthcare management market. The number of medical tourists who travel abroad for treatments is increasing every year.
Hospitals and health clinics are investing in newer technologies and management tools to manage their day-to-day operations and improve efficiency. Healthcare managers oversee all activities and help these organizations stay competitive in their field.
From global career prospects and higher annual salaries to community service and higher levels of job satisfaction, the reasons to study healthcare management or healthcare administration are many.
1. Fast growing industry with many job opportunities
According to the U.S Bureau of Labor Statistics, the Employment of medical and health services managers is projected to grow 32% from 2020 to 2030, much faster than the average for all occupations.
Working in a fast-growing industry like healthcare promises you a stable and highly rewarding career. With a growing number of healthcare facilities, pharma companies, and specialty clinics, the healthcare industry is flourishing at a faster pace.
Every organization is in need of skilled healthcare managers who can make better decisions, oversee operations and control the cost. Healthcare education allows you to find lucrative job opportunities across the globe. A degree in healthcare management will help you understand more about how the industry functions and various health authority regulations.
2. Promising career with a competitive salary
Healthcare managers are highly paid professionals with an average median annual salary of up to $116,380. The highest 10% of healthcare managers earned more than $205,620, while the lowest 10% earned around $60,780 per year.
The salary will vary depending on your level of education and work experience. A Masters’s degree in healthcare management and some relevant work experience can increase your chances of earning a higher income.
3. A way to serve the community
Studying healthcare management prepares you to be a community leader and make a difference in the world. It is a highly impactful career as it involves community service and interaction with hundreds of patients from different backgrounds.
Working in healthcare services will not only offer you great monetary benefits but also mental satisfaction. As a healthcare manager, you will work for various public health causes and work along with many eminent doctors and scholars.
If you wish to make valuable contributions to society and find a secure career position, a healthcare management degree is the best choice for you. A bachelor’s degree followed by an MBA or master’s degree can lead you to a highly successful career in healthcare management.
4. Availability of diverse job roles
Healthcare managers have a variety of job roles and workplace options to choose from. Working as a healthcare manager will provide you with many exciting job opportunities across the world. It is an interesting profession offering varied job positions such as:
- Healthcare manager
- Medical Director
- Healthcare administrator
- Healthcare supervisor
- Clinical director
- Nursing home facilitator
- Health coordinator
Depending on your preference you can choose to work in any of the following workplaces.
Healthcare managers can work in various institutions:
- Public health centers
- Nursing homes
- Private clinics
- Educational institutions
- Insurance companies
- Pharmaceutical companies
5. Better career growth with leadership opportunities
Healthcare management is gaining a lot of importance nowadays and it is easy to find top-level leadership roles in this field. Healthcare managers can experience quick career progression in their professions, unlike other business management roles.
After completing your degree, you can explore potential career opportunities in world-class hospitals, pharmaceutical companies, and medical firms. Healthcare management is a career that lets you enhance your personal as well as professional skills.
Getting started with healthcare management
A globally accredited degree in healthcare is recognized by employers worldwide and it shows your commitment to your career. While employers prefer an MBA or master’s degree for managerial roles, you need at least a bachelor’s degree to get started in healthcare management.
If you have already completed your bachelor’s degree in science or business administration, you can consider pursuing a master’s or an MBA in healthcare management. A masters degree will help you gain a better understanding of the healthcare sector and also teaches you the basics of business management.
Some of the universities also offer one-year Executive MBA programs tailor-made for working professionals. Executive MBA programs allow you to pursue your degree while continuing your full-time job.
If you are keen to work in healthcare but do not wish to be a doctor or a caregiver, studying healthcare management is the apt choice for you.
This is the right time to join EMBA in healthcare management.