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The healthcare industry is one of the major fields showing consistent growth and demand for qualified personnel. Recent changes in the healthcare industry due to an aging population, increasing mergers of hospitals and regulatory changes, along with more insured Americans, as a result of the Affordable Care Act, have resulted in a demand for healthcare managers and administrators with extensive business knowledge and skills. In fact, companies in the $2.26 trillion healthcare sector have a hard time finding enough MBAs to fill their open positions.
An online MBA in Healthcare Management provides a solid background in the business skills and knowledge you will need as they apply to healthcare. This degree opens the door to many well-paid positions such as hospital administrators, pharmaceutical project managers, healthcare consultants and medical practice managers. The healthcare MBA advantages result in graduates who can enter these fields in high-level management positions.
What Are the Advantages of a Healthcare Management MBA?
There are some key healthcare MBA benefits including the expansion of business skills and knowledge needed to be a manager or administrator in the healthcare field, advancement potential and qualification for high-paying positions. An MBA in Healthcare Management provides a broad range of skills needed for management and administration in the healthcare industry. Coursework includes the expected graduate-level business curriculum as well as courses focusing on real-world applications to the healthcare industry. As a result, individuals with this degree have an advantage when competing to advance their careers. Graduates with an MBA in Healthcare Management can often enter higher level positions in a variety of fields. Salaries in these fields generally range from $70,000 to $90,000, but can also be in the six-figure zone for more specialized career paths.
A Variety of Companies Need MBAs Who Understand Healthcare
In the past, hospitals, health systems and healthcare-related businesses tended to value clinical experience over business acumen. However, these employers are now realizing how much they will need to rely on business leaders to manage rising costs and remain viable in a much more competitive market. That makes the MBA in Healthcare Management look attractive to a variety of employers in hospitals, biomedical startups, e-health ventures, consulting and even pharmaceutical research and development.
The return on investment in time and money to obtain an MBA in Healthcare Management is considerable. You can increase your advancement potential and open the door to a broad range of higher level and highly paid positions in the healthcare industry.
Learn more about the UT Tyler online MBA in Healthcare Management program.