Career prospects after an MBA in Healthcare Management
- With several organizations thriving to manage costs and keep up with the changes, the demand for MBA healthcare management jobs is rising.
- MBA healthcare management programs help you acquire business acumen and knowledge, increasing your chances of getting hired by reputable firms.
- Once you get the opportunity in the field, you can enjoy the stability and credibility in the MBA healthcare jobs, grow potential, and gain experience.
A master’s in business administration is a proactive business degree that prepares aspiring students with professional experience, allowing them to emerge as a leader in various industry verticals. Nonetheless, if you are seeking to pursue an MBA, it is critical to choose the program and specialization that suits your dream and passion.
Amidst the countless options, an MBA in healthcare management is a versatile degree with impeccable benefits. Simply put, it will offer a wide range of careers and workforce settings where you can explore financial aspects, cutting-edge research, legal complication, policymaking, human resources and public relations.
If you want to enter the field, scroll down to learn more about the MBA healthcare management jobs for fresh graduates, career prospects, salaries, and more.
What is healthcare management?
Healthcare management, also known as Healthcare administration, is the process of managing the oversight of healthcare sectors, hospitals, public health systems, or other medical facilities. The professional has to ensure that the respective department is functioning smoothly and efficiently to reach the specified outcomes. Simply put, from medical insurance to drug manufacturing, every aspect of the healthcare industry requires management.
In the past, healthcare management was only about clinical experience. Today, due to the demands and distinct nature of the health sector, there is a growing demand for professionals to acquire leadership positions across the industry.
MBA healthcare management salary varies depending on the type of role that often serves as a starting point in your career before moving to the advanced level.
Why choose an MBA in healthcare management as a career?
Due to the ever-evolving demand for expert managers, the healthcare industry is actively looking for MBA graduates. The graduates will be provided with various career opportunities from MNC to government jobs after an MBA in healthcare management, considered one of the highest-paying and most rewarding professions. For instance, the healthcare management consultant’s salary will be approximately INR 5 to 6 LPA.
MBA holders in healthcare management have bright careers in various roles. Let us explore why you should choose an MBA in healthcare management as your career.
- Healthcare is inevitable
Healthcare has recently been one of the fastest-growing sectors, especially due to the pandemic. Hence the field calls for skilled professionals to acquire the position of administrator or manager in the organization to manage costs, resources, and manpower. Moreover, the sector’s continuous growth will move you up the career ladder.
- Step up and stand out
MBA healthcare management jobs will help you gain business acumen, including ideas, theories, and techniques of medical establishments. It will help you have the edge over the competitors, enabling you to make a mark among peers and leaders.
- Harnessing holistic growth
The healthcare sector is full of advanced technology, enabling seamless and streamlined healthcare operations. Moreover, you will be in a better position to amp up your ability in dealing with various aspects, including diversity, ethics, and cultural differences. It will assure you of holistic career growth where you can deliver improved quality care.
- Fulfilling financial rewards
Besides numerous job opportunities, an MBA healthcare management career places you in a position with a higher pay bracket. According to a recent survey, the average salary for healthcare management freshers is INR 5 LPA which might increase to INR 20 LPA.
ALSO READ: MBA in Healthcare Management course details
What are some top recruiters in the healthcare management sector?
An MBA in healthcare management opens up various opportunities in hospital management, hospital administration, and other senior positions. Some of the top recruiters who hire MBA healthcare management graduates are –
- Manipal Hospitals
- Omega Healthcare management
- Star Health
- Health Trail Portal
- IMS Health
Job roles in healthcare management
There are a variety of job opportunities that come under healthcare management, which requires skilled professionals to obtain leadership and management roles. Here, we have listed some of the sought-after jobs for an MBA in healthcare management in India, including salary, roles, and responsibilities.
- Health administrator
The role of the healthcare administrator is to ensure that the organization is operating smoothly, delivering the best possible care for patients. They will provide training sessions for doctors, nurses, and other personnel, analyze the employee schedules, give feedback, and manage company records. Furthermore, they are also responsible for the safety and hygiene of the facility.
- Assistant health manager/administrator
As the name implies, the primary responsibility of an assistant health manager/ administration is to assist the hospital administrator in the planning, coordinating, and supervising of the operations of facilities with efficiency.
They work with department heads and fellow assistants to build and implement new policies and procedures, involved in the budget, staff development, and other management functions. Their duties also include resolving complaints, raising funds, and aiding community programs.
- Clinical research manager
The Clinical Research Manager is responsible for managing the clinical monitoring process and administering the clinical trials. They have to examine whether the studies are conducted in compliance with ethical standards and scientific principles, monitoring the progress of each study until it meets the desired goals.
The managers also hold a primary role in recruiting participants for clinical trials, including identifying potential individuals, screening them for eligibility, and arranging interactions with researchers.
- Nursing home administrators
A nursing home administrator has to be proficient in two aspects – business and healthcare. In short, they are responsible for maintaining the business and organization aspects of healthcare facilities.
However, they are also involved in the operation on a personalized level focusing on achieving quality and safety of resident care. They tend to manage various tasks, including hiring, training, evaluating, and scheduling the staff and taking control of the finance and budgets of the organization.
- Clinical coordinator
A clinical coordinator analyses and oversees the day-to-day activities and duties of the healthcare clinic, managing and communicating with staff and ensuring the highest level of care. They serve as a lesion between administration and patients, making sure to coordinate their every need.
Another responsibility of the clinical coordinator is to create and implement a budget, to meet all the supplies required for the facility. Moreover, they can also train and supervise staff, design policies and ensure they are implemented.
- Health information managers
The role of health information managers is a data-driven one, where they have to ensure the efficiency and accuracy of the data and information collected from various departments in hospitals, private medical practices, or other health-related businesses.
The job is based on the knowledge of the healthcare industry with a basic foundation understanding of treatments, billing codes, and coding software. The professionals have to coordinate and supervise staff and keep up the accuracy, timelessness, and completeness of the financial statements, data, and productivity reports.
- Claims manager
The primary role of the Claims manager is to receive, assess and manage the claims made by the policyholder. They have to examine whether the claim is valid and arrange the health fund and action as needed.
He or she is responsible for making timely and proper disposition of claims depending on the health policy provisions. In addition, they can also recommend and implement best practices to complete claim settlements, legal reviews, and compliance with company policies and regulations of the insurance industry.
- Medical practice manager
The medical Practice Manager’s primary role is to supervise the operations of various departments of healthcare organizations, from the front office and staffing requirements to managing patient complaints and maintaining an inventory of medicines and equipment. Simply put, they have to oversee various tasks to ensure the clinic is performing at its peak smoothly and successfully.
Starting salary in healthcare management
|Job title||Average salary (INR)|
|Healthcare Administrator||5.12 LPA|
|Assistant Health Manager/Administrator||3.3 LPA|
|Clinical Research Manager||8 LPA|
|Nursing Home Administrator||3.4 LPA|
|Clinical Coordinator||3.3 LPA|
|Health Information Managers||11 LPA|
|Claims Manager||7.4 LPA|
|Medical Practice Manager||21.3 LPA|
Can I study healthcare management online?
The healthcare industry is in constant progression. Hence it is critical to step up and stay ahead. Considering the lucrative healthcare management salary in India, enrolling in MAHE’s online MBA in Healthcare Management program at Online Manipal would prepare you for a career in the healthcare industry, instilling practical understanding and problem-solving ability.
This postgraduate course equips the students with strategies and systems involved in managing the healthcare industry. It will teach them to improve the internal and external cooperative systems, ensuring a broad number of job opportunities in hospital and healthcare-related firms.
- Finance Marketing
- Human Resource Management
- Information Systems
- Business Analytics
- Data Science
- Operations Management
- Pharmaceutical Management
- Fashion Management
MBA in healthcare management by MAHE is an inspiring course. However, the candidates who want to pursue the program have to meet certain eligibility criteria as mentioned below,
|Educational Qualification||Graduates (10+2+3) in any discipline from recognized universities/ institutions, or an equivalent qualification as recognized by the Association of Indian Universities (AIU) with a minimum of 50% of marks or equivalent grade.|
|Professional Experience||One year of work experience in reputed organizations|
- Explore different domains such as finance, marketing, management principles, business, and more
- Get a deep insight into the healthcare operations sector
- Detailed knowledge to seal the gap between hospital administration and patients
- Stay ahead in learning about the latest trends and policies in the industry
- Acquire a broader perspective and enhance your earning potential
The healthcare sector is vast and growing, and so is the position, making a mass impact on the economy worldwide. Hence, choosing a career in healthcare management can be extremely rewarding and an ideal option for those looking for a perfect way to make a difference in the industry.
If you are seeking to enter the world of distinguished and better-paying MBA healthcare jobs, then it’s time to advance your career with MAHE’s MBA in Healthcare Management by Online Manipal. In a nutshell, healthcare management continues to thrive and grow, offering various opportunities to contribute to the community and society to a large extent.
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