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How does an MBA benefit those in healthcare management?

Healthcare administrators plan and direct medical and health services by working to improve hospital efficiency and quality, staying up-to-date on health-related laws and regulations, managing finances, and interacting with the hospital board. Ultimately, the healthcare administrator is responsible for the health of a hospital from a business perspective. For those aiming to become administrators for the biggest and most prestigious hospitals, a Master of Business Administration (MBA) in Healthcare Management is vital.

At the summit of management

Healthcare administrators require the full breadth of business knowledge in order to effectively maintain the facility. Even a hospital that provides the best care and service cannot succeed if it is poorly run. Changes in healthcare laws and regulations, for instance, can surprise an unprepared hospital, leaving it vulnerable to regulatory penalties. It is equally important for hospitals to stay on top of owed bills, following up with insurers and patients as appropriate. An MBA in Healthcare Management is a detail-oriented degree that can give you the high-level technical, problem-solving and analytical skills you need, as well as knowledge of practical accounting, management, human resources, legal issues and information technology.

Moving past entry level

A bachelor’s degree in healthcare administration can qualify you for an entry-level position, opening up opportunities at smaller hospitals as department heads or assistant administrators. In larger hospitals, a bachelor’s offers an entry point for more junior positions such as assistant department head. An MBA in Healthcare Management can open up career opportunities more quickly as hospital administrator or CEO for the country’s most competitive hospitals.

Double threat: experience and education

You can continue to work as you earn an MBA in Healthcare Management. With an online MBA in Healthcare, you can complete coursework on your schedule around work and family commitments.

Healthcare administrators are some of the most essential personnel in a hospital, often working closely with primary care providers and many others to maximize the facility’s performance. Like most businesses today, a hospital’s success depends on many factors, including financial performance, legal compliance and great service. For those interested in directly contributing to the overall success of a hospital, consider an MBA in Healthcare Management as a logical step in becoming a hospital administrator.


Sources:

http://profitable-practice.softwareadvice.com/should-you-get-a-healthcare-mba-0114/

http://www.careerprofiles.info/health-care-management-mba-degrees.html

http://www.bls.gov/ooh/management/medical-and-health-services-managers.htm#tab-1

http://mhadegree.org/mba-healthcare-management-salary/

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