What is a Healthcare MBA Degree?

What is a Healthcare MBA DegreeMany students are familiar with the MBA degree, but they might wonder “What is a Healthcare MBA Degree?” Healthcare MBA degree programs prepare students for careers in healthcare administration. Students are prepared to enter into a leadership role in the healthcare industry. Just like with conventional businesses, the healthcare industry needs professionals who can enter into positions of leadership. Unlike with a conventional business school, a HCMBA helps students learn the most effective management practices in various healthcare systems. Students who do not have time to attend a traditional brick-and-mortar school can instead attend online healthcare MBA programs. Students can pursue a Master of Business Administration in Healthcare Management after earning a bachelor’s degree.

How to Find the Top Healthcare MBA Programs

When looking at the rankings of online healthcare MBA degree programs, students should consider the acceptance rate of the school. Schools that have a low acceptance rate have a large number of applicants and are generally high-quality programs. Another way to determine the best healthcare MBA programs is to determine whether the programs are accredited. All the top MBA programs are accredited. Most of the best business schools have majors with healthcare specializations and typically offer distance learning programs. However, students who are certain that they want to specialize in healthcare will want to consider the business schools known for having the best online Healthcare MBA programs. There are many schools that have Healthcare MBA concentrations, including Vanderbilt University, George Washington University and Union Graduate College.

Careers and Salaries for Individuals with Healthcare MBA Degrees

Healthcare MBA salaries in May of 2010 were at a median of $84,270, according to the United States Bureau of Labor Statistics. The highest 10 percent earned more than $144,880, while the lowest 10 percent earned less than $51,280. The job prospects for healthcare managers is expected to be greater than the prospects overall, with healthcare managers experiencing a 22 percent growth between 2010 and 2020. This growth is driven by a larger number of elderly patients who will need treatments for age-related disorders. Healthcare managers hold different positions, including assistant administrators, clinical managers, nursing home managers and health information managers. Many healthcare professionals might find an online healthcare MBA program as an ideal form of career development. Many managers start off as assistants and those that are highly competent can eventually become heads of departments.