- By Nimr
- 01 June 2020
Careers Opportunities After MBA in Healthcare Management Course
Jobs in the healthcare and hospital industry take a vast range of responsibilities and commitments to meet the customer needs and benefit them with the healthcare services. It is also considered one of the noblest professionals across the globe. While there are several mediums to secure jobs in the healthcare industry, a Master in Business Administration is one of the most in-demand business degrees that prepare the students with real-time work experiences to procure the best-suited jobs in the reputed healthcare companies.
Since the last decade, MBA in healthcare and hospital management has emerged as one of the most covetable healthcare courses for future business people, entrepreneurs, and employees to enter the rapidly growing industry worth around 2.26 trillion dollars. There might be numerous options of specialization in the course of the MBA programs. But, you need to choose the right specialization course that opens up myriads of opportunities with stability and lucrative remuneration.
The blog will discuss further how MBA in healthcare management can open up a world of opportunities before you.
Career Prospects of MBA in Healthcare & Hospital Industry
There are some highly skilled and expert healthcare managers in every healthcare sector to keep working hard to run the system without hassle. The healthcare and hospital industry requires qualified and proficient individuals who are the right fits in managing the constant changes and development happening in the healthcare industry. Every healthcare institution serves a large number of individuals with healthcare services, and the core job is done by the healthcare and hospital managers to provide the patients with quality care and service.
According to the Bureau of Labour Statistics (BLS), career opportunities in other sectors are at an 11% rise in America. On the other hand, the healthcare sector is predicted to experience a 30-40% rise in the next few years. An MBA in healthcare management unlocks job opportunities in several sectors like human resources, patient care service, hospital operations manager, hospital CEO, hospital CFO, claims manager, medical practice manager, and pharmaceutical production manager. Some of the specific job roles to mention;
1. Health Administrator
Students who pursue health administration careers find job roles as health administrators. The primary job of the professionals is to order supplies and arrange schedules. Other job responsibilities are managing patients' bills and records and handling other management jobs.
2. Assistant Health Manager
An experienced manager supervises the employees, finance, and other procedures. Their responsibilities include maintaining a budget sheet for each health department, looking after the group practices based on locations, and reviewing various projects.
3. Nursing Home Administrators
A nursing home administrator keeps a sharp eye on individual patients' needs and requirements. The professionals manage the entire system, including marketing, policy assessment, and finance.
4. Clinical Research Managers
Clinical research managers usually deal with the government aids sent for clinical trials. The candidates who pursue healthcare and hospital management courses and wish to be clinical research managers need to be skilled in financial management and budget plans.
5. Health Information Manager
Health information managers maintain the patients' electronic medical records. Sometimes, the professionals collaborate with IT professionals or medical coding experts to check whether the electronic reports are accurate, legally valid, and easily accessible.
6. Clinical Manager
A clinical manager is a professional who is an expert and highly knowledgeable in a specific clinical subject. The areas might include radiology, neonatal care, ultrasound, etc. After completing MBA, one can join as a clinical manager in a recognized pharmaceutical company for clinical trials.
MBA in healthcare and hospital management course is a full-time 2-year program. The average salary is approx. 5 lakh per annum, and it can be up to 20 lakh per annum as one flourishes in the professional course. The job sectors are not limited to a specific country; you can have opportunities everywhere across the barrier. Over the years, the demand for the MBA in healthcare management will increase with more job opportunities.
Advantages of MBA in Healthcare Management
MBA in healthcare management has become one of the most desirous courses among the youngsters to secure a stable future with high-salaried, permanent jobs in the hospital industry. If you intend to opt for an MBA degree in the hospital and healthcare management sector, you must know the benefits you will enjoy while being in this industry.
• Stable and Lucrative Job Opportunities
Previously, healthcare jobs meant more knowledge and experiences and clinical sectors. In the present era, healthcare management jobs have been unique and different. One can join hospitals, clinics, and nursing homes as managers and administrators with an MBA degree. Once you complete your degree course, you will enjoy a stable professional career with a high potential to grow as your experience increases. The professionals can secure jobs in both Government and private healthcare sectors.
• Flexible Career Choices
Professionals with an MBA in healthcare management enjoy ample opportunities, and they can choose the kind of jobs they want to do, even though medical professions offer emergency services. The professionals can work with international healthcare partners and work as freelancers. With time, healthcare professionals have become capable of making a flexible and satisfying career.
• Skill Development
Healthcare managers do not treat or take care of the patients directly, yet their dedication and commitment to their profession save hundreds of lives with a sound healthcare infrastructure. Healthcare professionals are trained to make tough decisions about life-saving medicines and equipment. They are also responsible for handling operational services, assessing the current service scale, initiating future improvements, and assuring good patient care services.
If you are willing to begin a career in the healthcare sector, you must opt for MBA in healthcare management. The course is considered the best program to procure a lucrative job placement in government or private healthcare and hospital sectors. The extensive program comprises the basic concepts of the healthcare and hospital industry, healthcare management, healthcare finance, and operations management.
In a true sense, the MBA course can open up a world of opportunities before you by presenting myriads of job options with attractive salary packages and high learning potentials for a lifetime.