How an MBA in Healthcare Management Can Help Professionals in Healthcare Industry?
Have you been thinking of a career change? Maybe you are stuck in a sector that is not particularly interesting or giving you the challenge that you think you deserve. Or maybe, your current educational qualification does not permit a change into another industry. If you have been thinking so, you need to rethink. MBA with suitable specializations is a game-changer. With all those professional experiences amassed, you could still change your career trajectory by pursuing MBA in some smart and unique specializations. We will talk about one such industry and related MBA option today.
A growing industry
The healthcare industry is expected to grow at an estimated $2.26 trillion dollars. Let me clarify one thing at the very outset. Is the healthcare industry restricted to hospitals? Certainly not. It goes beyond hospitals and diverse trajectories include medical devices and equipment, health insurance, health policies, pharmaceuticals, health consulting among others. The digital impact is high and the level of progress in areas such as healthcare technologies, wearables for fitness and health is going at a breakneck speed. So, the ability to combine business insights with technological acumen is important in this industry. Naturally, a skilled workforce closely understanding the nuances of this industry is a major requirement in the reckoning.
Why an MBA in Healthcare Management?
So, even with a host of other choices of MBA, pursuing a specialization in healthcare seems to be a much favorable option. An MBA in healthcare specialization will allow you to do exactly the above. It allows you to look at the healthcare industry from a business perspective – things like how sustainability is important in a community health policy or how marketing theory informs government health campaigns or quality control in healthcare operations and several similar areas. Learning will also relate to organizational structures and behavior that will help in healthcare industry hiring and employment concepts. In addition to this, taking such courses will enable you to also understand by way of case studies and examples, the actual workings of the industry. So well-rounded professionals tuned to the details of healthcare settings are a basic outcome of this specialization.
Further, the range is very broad. You may hail from a paramedical background or allied medical background or other areas. However, MBA in Healthcare management allows you to take leadership roles in a wide variety of scenarios. For organizations, skill levels that will help boost revenue and manage costs are important. Also, vital to them is the reputation and awareness of the brand because nothing matters like consumer trust in healthcare industry. So the demand for trained professionals with competence to tackle the demands of this growing area is on the rise. Remember, there are two statistics that are favorable supports to this trend: – one, medical and health services manager positions are projected to increase 20% by 2026; two, the median annual salary for professionals with MBA in Healthcare Management is $98,350, both as per Bureau of Labor Statistics.
For any MBA course to be relevant to the learner community, it is important to offer the most updated and relevant details. For instance, data – quantitative and qualitative – are highly important in the healthcare industry today. MBA degree which provides exposure to students in Healthcare management and to also suitably understand the relevant data and use quantitative techniques to analyze them is of high importance. Healthcare insights for efficient and cost-effective running of organizations are often a result of such impeccable analysis and interpretation.
What do you need to keep in mind?
When you are out there and checking on a number of options available to you, see whether the curriculum makes such relevant offerings. Because, at the end of the day, to create smart professionals, smart curriculums are a prerequisite. Online MBAs are a great step in this direction. Aided with smart technologies that enable learner-centric modes of education, these MBAs come with the expertise of present-day requirements. We at Eaton Business School strive to provide you with the best of options. Check out our Online One Year European MBA in Healthcare Management at an affordable fee from anywhere in the world without breaking your job. Contact Our Academic Advisor today to get started.