What is an MBA in Healthcare Management?

By Philip Reynolds

As the Oregon Trail beckoned droves of Americans westward in the 19th century, so healthcare calls many seeking a stable and secure field in which to anchor their career.

Surpassing the U.S. Department of Labor Statistics’ estimate that it would be the largest career field by 2020, the healthcare industry did just that — only, the year was 2017. And it’s still growing.

Of course, some reading this already call the field home, perhaps aiming to grow and advance themselves as healthcare professionals.

But regardless of your status as homesteader, pioneer or interested bystander, there’s a unique, multifaceted degree that you’d be remiss to overlook: an MBA in Healthcare Management.

What is an MBA in Healthcare Management?

Being armed with only book-smarts – knowledge and theory alone – doesn’t give an individual the edge they need to lead. Providing a business-driven approach to management and decision-making, an MBA in Healthcare Management combines theory and practice to help you master industry-specific tools.

You’ll develop an edge in creating processes and strategies for teams and organizations. You should also develop a solid grasp on markets and healthcare policy making, ethics and legal issues such as medical malpractice and medical proof in litigation.

And you’ll be positioned to manage the day-to-day intricacies of healthcare systems while also guiding critical financial decisions using key skills like budgeting and forecasting.

Possessing such explicit skills is critical, as more and more hospitals and healthcare centers implement technology and specialized services. What’s more, this degree could position you to peer into future medical advancement as you study entrepreneurial technologies and their associated, progressive medical procedures.

Opportunities, Opportunities, Opportunities

Although jobs in the healthcare industry are constantly opening, it’s still a competitive market, and you need to be distinguished. You need to shine brightly.

Employers fielding candidates for management and leadership roles look for distinctive factors, particularly education.

An MBA sets you apart. An MBA in Healthcare Management defines you even more. It speaks to your training and knowledge of the industry, as well as your preparation to lead, qualities employers value heavily.

An MBA also provides can also provide an open door to a higher salary bracket.

Data from the Bureau of Labor Statistics shows that individuals with professional degrees, like the MBA, enjoy average earning of $89,960 per year, as well as an unemployment rate below the national average.

What’s Next

Are you thinking about taking your next step in the healthcare industry? Regent University’s MBA program is ranked in the top-five in Virginia. Our admissions counselors are ready to help answer questions, work through financial aid, and move ahead in this promising field. Whether you’re ready to take the leap, or simply want some more info, you can reach them at 800.373.5504. Learn more and apply today to the MBA in Healthcare Management.