Career options are diverse for aspiring healthcare leaders, and the field is continuously opening fresh opportunities for professionals with up-to-date training. Healthcare administrators, managers and executives, as well as medical and health services leaders, are in high demand in Colorado and across the United States. Employers have a growing need for professi onals with industry experience, supplemented with training in traditional business disciplines like finance, operations, marketing and communications.
To meet the need, a growing number of business schools offer specialized healthcare MBA programs. If you are in a contributor or managerial role, these programs can add the pieces needed to advance your career.
Why Employers Value the Specialized Healthcare MBA
The all-online MBA from the University of Northern Colorado’s Monfort College of Business is at the vanguard of the specialized healthcare MBA movement. Developed with input from industry leaders, this tailored program cultivates leadership skills for a healthcare business setting with courses taught by experienced practitioners, including the CEO of a regional hospital.
Project management, financial management, managerial accounting, employment law and leadership communication are among the most essential areas of business expertise required in healthcare settings, and students in this accredited (by the Association to Advance Collegiate Schools of Business) program receive extensive training in these areas.
Healthcare concentration courses train students in healthcare systems, the economics of healthcare, and managing qualitative issues in healthcare organizations. Students refine their decision-making skills; examine the ongoing change in healthcare systems; and analyze related managerial issues such as ethics, technological trends and strategic management. Students graduate with specific skills highly prized by employers.
Career Paths in Healthcare Administration and Management
Career opportunities are strong in healthcare administration and management, public health and informatics. Professionals in these fields administer, plan, direct and coordinate health and medical services in a range of settings — hospitals, doctors’ offices, long-term facilities, urgent-care centers, outpatient clinics.
Many work in leadership roles with government agencies, NGOs, nonprofits and insurance companies. Graduates of specialized healthcare MBA programs apply their knowledge of new healthcare practices and technologies, as well as applicable laws and regulations.
High Demand for Healthcare Leaders
Jobs for medical and health services managers are expected to grow 18% between 2018 and 2028, with a median pay of $99,730, according to the U.S. Bureau of Labor Statistics (BLS) as of May 2018. Baby Boomer retirements, longer life expectancies, strengthened healthcare technologies and practices, advances in data application and electronic health records, and changes in the insurance environment will drive the growth.
Increasing demand for access to healthcare, cost containment challenges and quality of care issues also influence this rapidly expanding field. In addition, healthcare is among the most recession-proof industries, so an investment in training provides sustainable job security.
To maximize opportunity, the BLS suggests that prospective leaders hold a degree that focuses on both healthcare and business disciplines. Advancement to top executive positions usually requires a master’s degree.
Learn more about the UNC online MBA program with a Concentration in Healthcare Administration.
Sources:
U.S. News & World Report: Online Master’s Degree in Health Care Administration
U.S. Bureau of Labor Statistics: Medical and Health Services Managers
