Once the decision to pursue a Master’s degree is made, selecting the right program and format is critical to achieving future career goals. Many programs appear similar in content requirements and areas of concentration. However, their minor differences may limit your career path, if not chosen carefully. For example, the question is often asked as to the differences between an MBA in Healthcare Management and a Master’s in Health Administration. Though each prepares one for middle and upper-level management positions, the differences are significant.
A MBA in Healthcare Management
One who wishes to pursues a traditional MBA to be an effective business manager will acquire analytical skill sets across several areas of business:
- corporate finance
- international business
An MBA in Healthcare Management follows the same basic curriculum with additional coursework in:
- the administration of healthcare services to patients
- the legal environment in the healthcare industry
- facilities management
- current healthcare policies
This degree, according to cbsnews.com ,is highly competitive in traditional business environments as well as the healthcare industry.
Individuals who earn this degree often work as:
- Healthcare Facility Managers
- Business Managers for Hospitals
- other healthcare service providers
- business consultants.
A Masters in Health Administration
This program is geared to the individual who wants to follow a career path related only to the Healthcare Industry. A Master’s in Health Administration is designed to prepare the individual for the administration of health care services. o fund healthcare services for end users–patients–it focuses on:
- financial requirements
A Master’s in Health Administration trains an individual for the patient aspect of healthcare service management. An MBA trains an individual for the overall daily management of business operations such as:
- labor requirements
- creating and implementing corporate policies and internal controls
- interpreting and making formal reports on the organization’s financial statements
- possibly being the liaison between middle and upper management
Individuals who earn a Master’s in Health Administration often work as:
- long-term care facility administrators
- Hospital Health Service/Patient Service Directors
- Healthcare Consultants
- Insurance Companies representatives
- federal, state, or local government sponsored healthcare agencies.
Ultimately, both degrees prepare individuals for managerial posts. However, an MBA in Healthcare Management ensures getting necessary analytical and management skill sets across the broad range of business functions found in any organization.
This individual can be competitive in traditional business environments and the healthcare industry’s workforce. A Master’s in Health Administration is intended to prepare professionals for management. They will be responsible for the management of:
- healthcare policy
- insurance issues
- government regulations
This career path is limited to career advancement within the healthcare industry.