As the healthcare field is rapidly changing in terms of how care is delivered, who is providing those medical services, and how the care is financed, it is an exciting time for interested individuals to embark on the academic pathway towards healthcare administration by achieving a Master of Business Administration (MBA) in Healthcare Management.
For qualified and highly trained professionals with the talent to manage the changes taking place, healthcare administrators and executives have the unique opportunity to truly make a lasting contribution on improving the public health of communities through the organizations they serve. Although many of these professionals decide to seek employment in the conventional hospital setting as hospital CEOs, CFOs, and other administrators, there is a growing diversity in the healthcare system that is creating new job opportunities. Read on to learn more about the various other medical-related settings that are currently in need of these specialized business executives.
Other Healthcare Systems
While hospitals are often the obvious choice for graduates with an MBA in Healthcare Management, there are many other organizations within the healthcare system that are in rising need of administrators. From department head to chief executive officer, senior-level management positions can be found at clinics, consulting firms, health insurance organization, healthcare associations, nursing homes, mental health organizations, public health departments, long-term rehabilitation centers, substance abuse facilities, research institutions, and even medical universities. In addition, it is very common for these trained individuals to pursue a career as medical practice managers within private physician practices. Although practice managers deal with the same issues of billing, legal compliance, managing schedules, and hiring staff as a hospital administrator, the duties are on a much smaller scale.
Federal Government Sectors
Outside of the healthcare system, there are numerous rewarding healthcare management careers offered through the federal government in the uniformed services. Graduates with an MBA in Healthcare Management can take their abilities to manage complex systems and put it into practice by managing the healthcare of service members in the Army, Marines, Navy, and Air Force. For instance, the Medical Service Corps of the U.S. Army hires qualified candidates to fulfill roles as health services office, healthcare administrator, health systems manager, patient administrator, human resource manager, and medical logistics specialists. In addition, the Department of Veteran Affairs can be a rewarding option for healthcare administrators to help veterans transitioning from the military back to civilian life.
Pharmaceutical or Biomedical Industries
With an MBA in Healthcare Management, graduates are well-prepared with the leadership experience to work as high-level managers in both the pharmaceutical and biomedical industries as well. Many decide to pursue positions in biotechnology firms and pharmaceutical companies as medical product marketers, supply chain analysts, product development coordinators, and pharmaceutical product managers. Within these industries, individuals are given the opportunity to analyze investments, review market data, and design new promotions for medical drugs and devices.
Despite popular belief, effective healthcare administrators are vital to the successful management of all types of medical-related organizations today beyond the typical hospital setting. It is estimated that more than 100,000 individuals occupy healthcare management positions at numerous organization levels in diverse healthcare organizations to improve the system of providing patient care. According to CBS News, the healthcare track for MBAs is booming in a $2.26 trillion industry as health service industries simply cannot find enough business-oriented professionals to fill open positions. Therefore, it is an excellent time to start pursuing your dream of becoming a healthcare administrator at one of the settings outside of the hospital environment.