How can an MBA in healthcare help you succeed in today’s market?
The healthcare industry is transforming swiftly, expanding career opportunities for both practitioners and business professionals as emphasis on business aspects like sales and marketing increases within the field. Hospitals, health systems and private medical practices need seasoned business professionals who also understand healthcare-related operational issues to help them comply with new regulations and create greater organizational efficiency. An MBA in healthcare, gives you the foundational knowledge of healthcare policy, trends, operations and issues combined with business expertise to help these organizations grow.
The growth trend is established
When universities expand or shift in their academics, it is a powerful indication of market forces at work. The number of MBA programs being offered has more than quadrupled from the1990s to 2013. Along with that increase has come growth in online degree offerings as well. Now as part of that growth trend, an MBA in healthcare is seen as a crossover degree, expanding the business skill sets of healthcare practitioners and enlarging business leaders’ opportunities in the healthcare environment. Creating solutions to the demands of delivering accessible services while reducing costs is a priority within the scope of healthcare provision today, and an MBA with a healthcare specialization can help provide institutional leadership the critical capabilities to manage those complex issues.
Expanding concerns means expanding skill sets
Today, a career in healthcare management demands the business acumen, marketing capabilities, financial knowledge and management skills not only to compete but also to keep up with the market growth and changes. For example, for the working physician aspiring to the level of managing a clinic or a hospital a commitment to balance work and family with the time needed to study is required in the pursuit of an MBA in healthcare. This is where online degree programs can be most helpful.
Graduates with an MBA in healthcare are in demand
Healthcare organizations recognize the direction efficient customer service is taking. There is a pressing need to attract and retain patients through improved services and decreased wait times, providing a happier customer experience. This marketing approach to the business of healthcare is the new area of opportunity in the medical field.
Whether you are just getting started with an education in the business or medical fields or if you are an individual already established professionally, it is useful to take a look at how an MBA in healthcare can help you make a significant difference in the changing healthcare environment.
1.The Profitable Practice“Should you get a healthcare MBA? The experts weigh in,” January 23, 2014.
2.CBS News Moneywatch,“The Healthcare MBA: One Fast Track in a Slow Economy,” February 10, 2009.
3.The New York Times,“Adjusting, More M.D.’s Add M.B.A.,” September 5, 2011.
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