An MBA with an emphasis in Healthcare Administration is the right degree for those seeking a business career in healthcare. There is a diverse range of responsibilities and plenty of opportunity for innovation. It's a great choice for experienced healthcare professionals who want to advance in a current job or move into new areas of their field.
An MBA with a healthcare administration focus also benefits early-career professionals charting their path in the healthcare industry, as well as managers or administrators working in other industries who want to change careers.
Healthy Career Prospects
MBA healthcare administrators are sought after by hospital systems, colleges and universities, government agencies, private companies, the nonprofit sector, and many other types of employers because these administrators have the training and knowledge needed to solve complex problems.
- By 2026, the healthcare industry will add approximately four million jobs, including a significant number of managers and administrators.
- Healthcare companies are among the top three recruiters of MBA grads, alongside companies in the technology and energy industries.
- Some 72 percent of healthcare companies surveyed by the Graduate Management Admission Council (GMAC) in 2018 have immediate plans to expand their workforce.
- Approximately 93 percent of GMAC respondents indicate they will be hiring MBA graduates in the year ahead.
The outlook is promising for MBA administrators because employers know they are leaders who can respond to the rapidly changing business climate of medicine. Those who specialize in healthcare administration are also far more likely to understand the unique problems and opportunities that drive care, treatment and research.
Benefits of Specialization
MBAs who choose to specialize in the administrative aspects of healthcare do so for many reasons and see many career benefits. It's an ideal degree for business grads seeking an entry-level job in administration, and it's a perfect way to learn the business side of healthcare from the ground up.
Experienced healthcare administrators who wish to compete for different or more advanced positions in their field will also see great benefits. Seasoned managers and ambitious administrators who are ready to move into the executive ranks also find that a specialization in healthcare administration is a great complement to their MBA education.
This MBA specialization also benefits students in ways that go beyond job status or earning potential. The degree gives them the tools they need to address some of the most urgent issues our healthcare system faces in the years ahead. For instance, the critical shortage of primary care physicians, specialists, nurses and home health providers in America is projected to worsen within the next decade. This is largely due to attrition, retirement and the difficulty of recruiting new candidates into professional education and workforce training programs. From both a strategic and creative perspective, the expertise that MBA healthcare administrators bring to their work can solve these problems and reduce the impact on patients, helping maintain a robust healthcare workforce and continued access to care in the future.
Forging New Traditions
While many graduates with this specialized MBA degree find they have an edge in the health industry job market, some prefer to leverage their expertise in other ways. Many cultivate successful careers in scientific, technical and consulting fields. Healthcare MBAs may find work:
- With a cybersecurity firm, dealing with analytics or health information technology.
- In the pharmaceutical industry or for a medical device manufacturer.
- In business or government, developing healthcare policies.
- As entrepreneurs, starting their own companies.
Whichever path MBA students in health administration choose after graduation, they are prepared for career success, however they define it.
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