What can I do with an MBA in healthcare management?

Findings from the World Health Organization (WHO) report that there will be a shortfall of 10 million health workers worldwide by 2030.

In addition to systemic labour and skill shortages, other mounting issues – including health inequities, barriers to healthcare access, rising costs, health system sustainability, and quality of patient care and outcomes – add to the burden. Healthcare organisations, processes and practices require transformation to address these critical challenges – many of which must be addressed at the highest leadership levels.

Do you want to carve out a career in an industry that saves and improves lives? Keen to play an active role in transforming healthcare experiences and outcomes? If you’re thinking about a new career as a healthcare professional, or progressing in your current health-related role, now is the time to boost your skills, knowledge and employability – and help pave the way for lasting, meaningful change within the global health sector.

What is the difference between a regular MBA degree and an MBA Healthcare Management degree?

A Master of Business Administration (MBA) degree is a globally recognised qualification – and one that is widely regarded as the pinnacle of business management programmes.

All MBA programmes – whether delivered on-campus or as online MBAs – are designed to equip you with the skills to excel as a leader in business. Their course content generally covers business fundamentals such as financial management, operations management, global economics, leadership, human resources, project management, marketing, and corporate strategy. You’ll also gain critical leadership skills and communication skills, become adept at decision-making, and understand how to develop and scale businesses in a sustainable, responsible and ethical way. Importantly, the skills you’ll gain are deliberately transferable – meaning you could pursue a career path in just about any industry.

This is the key difference between a straightforward MBA and one with a healthcare management specialisation – often referred to as a Master of Healthcare Administration (MHA). The in-depth, specialist expertise you’ll gain in running and managing healthcare facilities and their day-to-day operations enables you to work in the medical field without being directly involved in hands-on patient care.

What are the career opportunities with an MBA in healthcare management?

The job market looks set to be highly promising for those in the healthcare industry. The U.S. Bureau of Labor Statistics (BLS) reports that: ‘overall employment in healthcare occupations is projected to grow much faster than the average for all occupations from 2022 to 2032’. As well as roughly 1.8 million openings each year, the median average salary is also considerably higher than the median average salary for all occupations: $77,760 (£61,537) in May 2022, compared to $46,310 (£36,648).

With a healthcare management MBA, you’ll be well equipped for success in medical/hospital management and leadership roles throughout the healthcare field. Your highly developed business skills – in conjunction with your specialist expertise in management of healthcare systems – mean your future career options could include:

• policy analyst
• research manager
• health services manager
• healthcare manager or healthcare consultant
• hospital administrator
• pharmaceutical project manager
• healthcare marketing manager
• project manager
• clinical manager
• biostatistician
• medical director or administrative director
• health information manager
• medical entrepreneur
• registered nurse practitioner.

LinkedIn shares some further managerial and leadership positions for healthcare MBA graduates, including details of approximate annual salary for each.

What healthcare settings can I work in with an MBA in healthcare?

There are a wide variety of healthcare settings and medical facilities to choose from – spanning the private, public and non-profit sectors – depending on where your interests and passions lie. You could work in hospital or clinical environments, social care settings such as nursing homes, GP surgeries, charities, or private healthcare ventures.

There are also numerous different fields, areas of specialism, and systems within the wider healthcare sphere. For example, you might want to pursue a career within:

• healthcare systems – including clinics, medical universities, research institutions, healthcare associations, and consulting firms
• pharmaceutical or biomedical industries – including working as product development coordinators, supply chain analysts, and pharmaceutical project managers
• government sectors – including the Department of Health and Social Care and Public Health England.

Varied careers exist within fields such as healthcare technology, health policy, primary, secondary and tertiary care, health insurance, healthcare equipment and supplies, and many others.

How do I find the right online healthcare MBA programme?

Choosing an online MBA programme and provider is a highly individual choice, and will depend on a range of factors – the most crucial of which is that your time, effort and money will result in a qualification that aligns with your healthcare career goals and aspirations.

As an example, you might want to take into account:

• business school or university rankings and league tables
• specific course content and healthcare modules
• full-time, part-time or fully flexible study options and start dates
• tuition fees and scholarship/bursary availability
• teaching and learning delivery – for example, synchronous and asynchronous options
• assessment and coursework requirements
• entry requirements.

While entry criteria and enrolment requirements vary somewhat between providers, most online MBA programmes with healthcare pathways will expect you to have a good bachelor’s degree or master’s degree, as well as two to three years’ work experience in a relevant professional or managerial role. Additionally, you will likely need to achieve certain English language requirements, or demonstrate your academic credentials in the form of GMAT or GRE tests.

Join the cutting-edge of healthcare leadership and innovation

If you’re a resourceful, creative and ambitious leader with a passion for healthcare sector transformation, choose St Mary’s University’s online MBA with Healthcare Management programme.

Our highly flexible, 100%-online MBA degree programme is designed to prepare you for developing and implementing effective solutions to the complex challenges of modern healthcare settings. You’ll develop a comprehensive understanding of the interrelationships between health and business, use research and analysis to bolster health leadership, and gain key insights into how health organisations are run and how they adapt in response to changing contexts, challenges and industry developments. As well as key business and management acumen, you’ll study topics such as healthcare quality management and quality analytics, healthcare administration, and healthcare leadership.