One popular area for MBA specialization is the field of healthcare management. MBA students who pursue this track emerge from business school as skilled and knowledgeable professionals in the healthcare industry. They study theoretical frameworks in the field of healthcare, but are also exposed to real-world scenarios and pragmatic problem solving methodologies. If you decide to pursue an MBA in healthcare management, you will build your expertise in areas such as public and private health services management, healthcare administration, policy, and financing.
Why earn an MBA in healthcare management?
Over the past two decades, the medical field has experiences dramatic transformation. Complex infrastructures and frequently changing policies have created new challenges, and cutting-edge innovations in the biotech industry have changed the face of patient care. Most importantly for aspiring MBA students, medicine is now seen by some as big business. In fact, this description is accurate; according to the Centers for Medicare and Medicaid services (CMS), the U.S. spent approximately $3.3 trillion on healthcare in 2016, with costs going up each year. In addition, the medical industry recently became the nation’s largest employer, surpassing manufacturing and retail for the first time in history.
Where there is change, there is opportunity. With an MBA in healthcare management, you will be trained to manage a range of healthcare agencies that present their own unique challenges. These include hospitals, pharmaceutical agencies, biotech firms, insurance companies, and managed care organizations. All of these settings are under pressure to manage costs and create efficiencies, so the value of your MBA skill set will be greater than ever.
What will you study with an MBA in healthcare management?
As a healthcare management major, here is a sampling of the coursework you may expect to pursue:
- Business Law
- Human Behavior in Organizations
- Leading in an Organization
- Finance and Economics
- Operations Management
- Healthcare Informatics
- Health Administration
- Social Issues in Healthcare
Is an MBA in healthcare management in your future?
Should you earn a healthcare management MBA? Whether you aspire to be a hospital CEO, run a biotech firm, work as a consultant, or lead a medical device firm, an MBA in this exciting field will position you to enter a booming industry with high growth, high need, and high job stability. While the decision is yours to make, aspiring healthcare leaders will not be disappointed with this specialization.
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