The Master of Business Administration (MBA) in Health Care Management is growing in popularity and demand. Michael Myser, a writer for CBS Money Watch, says that “the health care track for MBAs has never been a hot one — until now.” According to his report, hospitals and other health service organizations cannot find enough MBA graduates to fill their positions in this three-trillion-dollar industry.
While hospital administration and health care management may lack glamour, they are necessary for the advancement of health care services into the twenty-first century. Moreover, health care management now extends beyond these basic careers into biomedical startup companies, e-health ventures and pharmaceutical research and development. There has never been a better time for business professionals to pursue an advanced degree in health care management.
The Master of Business Administration in Health Care Management combines a rigorous business school education with a strong health care concentration. The health care MBA curriculum delivers knowledge, management skills and technical innovations in ways that no other business program can. How much experience should students have before enrolling in a health care MBA program?
The Master of Business Administration in Health Care Management program attracts students from various academic and professional backgrounds. Significant work experience is not a requirement for applicants, but it is desirable. Successful applicants are those who demonstrate strong leadership skills regardless of their professional experience.
Most students who enroll in health care MBA programs are working professionals with diverse backgrounds. They already have careers in hospital administration, general practice, nursing, pharmacy, insurance and other professions related to health care. An MBA degree will give them the necessary skills for a management or leadership position in those professions.
Like the traditional Master of Business Administration, the health care MBA is an advanced or postgraduate degree. Students who enroll in this degree program have a bachelor’s degree in business administration, health care management or related fields. The MBA program emphasizes practical applications of business and management theories in the context of health care.
The Master in Business Administration in Health Care Management program is suited to professionals with specific qualifications. The program requires students to think critically and creatively. It emphasizes self-development and self-initiative. It also develops communication, team-building, problem-solving and ethical leadership skills.
A Closing Thought
Finally, the MBA in health care management requires vision. As John Ryan of Forbes magazine said, “Leadership success always starts with vision.” A clear vision is one of the most important functions of health care leadership.
MBA program applicants and graduates alike must have a vision for leading the vital and complex health care system into the new century. Rising health care costs, new health care reforms, medical advancements and emerging technologies require expert leaders in health care management. For those with a vision, now is the time to pursue a degree.