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Management

Which MBA is best for healthcare professionals  

Online Manipal Editorial Team | November 05, 2022

MBA in healthcare management has gained immense popularity in the past few years. With the country progressing and moving forward in the healthcare sector to compete with other nations, the management of hospitals and healthcare facilities has become a prominent sphere for career opportunities. MBA specialization in healthcare management is the most sought-after course for leadership and business skills in hospitals, rehabilitation, long-term care facilities, insurance, and pharmaceutical companies. 

The two most popular MBA programs for health professionals are:

  • MBA in healthcare management

The MBA in healthcare management allows medical graduates to connect to their medical fields and work in top managerial positions in leading healthcare sectors and hospitals.  

  • MBA in pharmaceutical management

MBA in pharmaceutical management focuses on studying pharma science and technology aligned with marketing and business strategies.

What is an MBA in healthcare management? 

An MBA in healthcare management deals with the strategy and system involved in growing and managing the healthcare business. This program teaches the students how to improve the internal and external corporative system. The degree opens job opportunities for hospital management and administration roles and even higher positions in hospitals and pharmaceutical companies. 

The salary for MBA in healthcare management in India is between INR 5 to 12 lacs per annum. The salary might vary depending on your job experience, skills, and where you are applying. This curriculum deals with healthcare specialization topics, business management practices, and managerial studies. 

Careers after MBA in healthcare management  

An MBA in healthcare management makes you an ideal candidate for the top management roles in hospitals and other healthcare facilities. The scope of an MBA in healthcare management is vast whether a graduate chooses to study or work further. It is one of the most advanced courses in employment perspectives across various fields in the healthcare sector. 

  • Health administrator 

The health administrator must oversee healthcare providers’ operations at a doctor’s office, hospital, senior care facility, or even an outpatient clinic. They even help to navigate medical software to manage patient billing, patient records, and other management responsibilities. The healthcare administrator coordinates the business activities of the facility or the department. 

  • Assistance health manager/administrator 

After finishing your MBA in healthcare management, you can go for assistant health manager. Their primary role is to help the hospital administrator plan, coordinate and supervise necessary to ensure that the facility can deliver healthcare smoothly in a large hospital with several departments and massive styles. There can be several assistant administrators who are responsible for overseeing the running of one or more departments. 

  • Clinical research manager 

Clinical research manager holds one of the most critical jobs in the healthcare industry; they oversee all clinical trials evaluating new medication and medical devices. People in this position ensure that the trial is conducted in stringent and specific guidelines.  

  • Nursing home administrators 

Nursing home administrators manage the day-to-day operation of nursing homes, long-term facility care, and retirement homes. They are responsible for administrative and clinical duties. They even help foster a safe, healthy environment for workers and residents. 

  • Clinical coordinator 

A clinical coordinator is a healthcare professional who monitors and organizes the daily activities of the healthcare facility. They are responsible for welcoming patients as they check in at the hospital, delivering results to the patient, and replenishing the hospital’s medical supplies. They even have several professionals and apartments throughout the hospital to ensure they have the necessary supplies and equipment.

  • Health information managers 

A health information manager manages all the information generated in the healthcare establishment and is responsible for compiling all the data related to the patients and medical history, medical reports, examinations, doctor’s observations, symptoms, diagnosis, and treatment prescriptions. They play an important role in maintaining the digital records of medical establishments. They ensure that all of the said information is appropriately compiled and stored so it can be easily accessible.

  • Claims manager 

Claims managers are responsible for logging, maintaining, and processing their patients’ claims. It is a front-end job.  

  • Medical practice manager 

A medical practice manager manages all office-related operations of a practicing physician. They supervise the operations of various sections of medical offices. 

What is an MBA in pharmaceutical management?  

An MBA in pharmaceutical management consists of studying pharmaceutical science and marketing and management. It is ideal for those interested in learning management and the business side of the pharmaceutical and healthcare industry. Pharmaceutical management is the fastest-growing and most rewarding field of management courses with a bright future. It developed skills in planning and operating management techniques, acquiring consultancy skills in solving management problems. 

There is great scope of an MBA in pharmaceutical management because it is a versatile degree with many job opportunities to choose from within and outside India. Over the past years, MBA in pharmaceutical management has become immensely popular among students. The pharma MBA course offers diverse career options.  

Careers after MBA in healthcare management 

  • Sales managers

With the rise in consumption of medicines and the increasing demand for exporting medicine is also increasing. To handle all these sales operations, the role of a sales manager is multi-tasking. They are responsible for client acquisition, employee tracking, and analyzing product performance and customer engagement. 

  • Pharmaceutical purchase manager 

Pharmaceutical purchase managers lead the team for procuring medicines and services for the hospitals. They are responsible for strategizing and executing purchase strategies in line with the company requirements according to the standard procedures and regulations.

  • Drug distribution manager

They plan the distribution of pharmaceutical goods to various points of sale. They are responsible for distributing medicines and drugs to different medical facilities. 

  • Formulation pharmaceutical technology scientist

Formulation pharmaceutical technology scientists conduct comprehensive testing and create formulas for chemical products. They plan and conduct experiments to develop prototype goods. They produce safe and reliable formulations. 

  • Business development manager

The business development manager is responsible for searching venture investments, licensing, and collaborations that will benefit the company’s drug development pipeline. They oversee the revenue growth and help the business grow.  

  • Quality assurance manager

Quality assurance managers are responsible for overseeing the activity of the quality assurance department and staff. They are supposed to maintain the quality and reliability testing system for the organization or other development processes. 

Online Manipal 

Manipal Academy of Higher Education offers MBA in healthcare management and an MBA in pharmaceutical management, that serves your purpose to explore the management side in the health industry. You can opt for one of these online programs that best suits you through Online Manipal Students.

Conclusion 

With the healthcare industry growing in leaps and bounds, several new hospitals are coming up in various parts of the country. However, running the hospital or healthcare sector comes with the challenge of running it efficiently, which is why the need for professionals with strong management skills is on the rise.

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