Healthcare manager career path after an MBA

Healthcare has become one of India’s largest growing sectors, boosting national revenue and employment in private and public sectors. The industry comprises clinical services, manufacturing drugs, and medical equipment, which play a vital role in diagnosing, treating, and nursing injured people. 

The growth of the healthcare industry is inevitable, considering the rapid pace at which technologies such as cognitive computing, electronic patient records, interoperability, and big data are advancing. Digitized systems deliver better diagnostics, quality care, and also reduce operational costs. A postgraduate degree, like an MBA, can help you master specialized healthcare and business knowledge to achieve a better future.

With the rising opportunities in the healthcare industry, there is a demand for professionals with an MBA in healthcare management to navigate the regulatory landscape, handle healthcare finances and implement innovative strategies. Data analysis and strategic planning enable all MBA graduates to make informed decisions and drive operational efficiency in different healthcare departments. The program upskills an individual’s knowledge of the policies and ethical considerations of the healthcare system. Moreover, it updates professionals with the recent trends and developments in the healthcare sector, helping you accelerate your career and increase earnings.

Does the healthcare industry even need a managerial role?

Managerial roles are essential to keep up with technological advancements and transform healthcare services in the modern digital era. Managers juggle planning, coordinating, and controlling different departments. They are hired in the healthcare sector for multi-tasking without delay or error. Healthcare managers must have strong communication skills, collaborate with other departments, qualified personnel, and perform budgeting.

• Managers deliver reliable services for coordinating and directing the departments.
• Healthcare Industry can become incompetent when doctors, nurses, and insurance companies don’t receive proper guidance regarding hospital operations. 
• It is important for every healthcare center or hospital to maximize its revenue and adhere to the regulatory requirements. Managers understand the need to invest in the right resources, departments, and optimum funding methods.
• Managerial roles in the healthcare industry advocates for the patients and their rights. It improves patient experience, solves grievances, and provides the best care. Managers liaise between the patients, healthcare providers, and the center. 
• The healthcare centers often face disasters like natural disasters, pandemic diseases or unforeseen emergency cases. Managers are trained to handle such difficult situations with their leadership and ensure the safety of community staff with care.

Why choose MBA in Healthcare Management as a career?

Healthcare MBA combines business management and healthcare studies and helps people switch careers in healthcare. Let’s explore the advancement options for healthcare managers after an MBA in healthcare management:

• MBA degree adds flexibility to career choices because the healthcare industry is rapidly growing with intense competition among professionals. It makes your resume strong and provides insights to land a high-paying job.
• MBA holders can easily find a suitable job when the job market remains unstable. As it is a versatile degree, professionals learn in detail about healthcare roles and how to adapt to recent trends in the industry.
• In clinical settings, MBA graduates can work for insurance companies, consulting firms, home health agencies, etc.
• Build networks by interacting with global students, professors, alumni associations, etc. 
• The degree helps professionals make informed decisions about the healthcare industry that impact patients’ lives.
• Professionals improve the system by implementing several changes regarding saving lives, affordable healthcare facilities, and patient care.

The importance of having an MBA in Healthcare Management

When people want to pursue a profession in the healthcare sector rather than directly in medical services, MBA is the suitable option. Below are the opportunities for healthcare managers with an MBA:

• Expanding Sector

Healthcare is the fastest growing sector today, and an MBA is an excellent choice to get hired as an administrator or manager in reputed hospitals. It helps professionals move up the ladder of success and ensure continuous career growth because medical institutions always require professionals to manage costs, resources, and paperwork.

• Business Acumen

Professionals gain business acumen for hospital administration from the ideas, theories, and techniques they learn from the MBA degree. It helps them look beyond the emergency unit and consider starting a medical business from scratch. Candidates after hospital administration courses will have expertise in business acumen.

• Evolving Industry

Employment in the healthcare sector is constantly increasing because of the aging population and pandemic rebounds. MBA degree helps professionals become home healthcare providers, hospital directors, therapy practitioners, etc. Today, most hospitals, insurance companies, medical tourism, and telemedicine firms stay ahead of the competition because they are run by professional MBA graduates dedicated to expanding the business.

• Holistic Growth

The graduate degree offers holistic growth for all professionals to learn and explore the healthcare industry accreditations, licensure, and compliances. The program teaches students to manage and streamline operations to save costs and increase the quality of patient care. It also imparts the technological innovations in the healthcare sector and how to deal with them while following ethics.

Healthcare administrator roles after MBA

MBA in healthcare management opens up many career advancement opportunities in the healthcare sector. Let’s discuss the different healthcare administrator roles after MBA, their required skills, and the salary potential for healthcare managers with an MBA:

Transitioning from a non-MBA background job to an MBA-level role in the healthcare sector

There are different eligibility criteria to pursue MBA in the healthcare sector from non-MBA background jobs depending on the colleges or institutes:

• Candidates should pursue an undergraduate degree in any discipline with at least 55% aggregate marks from a recognized university. However, students usually come from BSc, MBBS, BPT, BPharm, BE/BTech, BDS, etc.
• Candidates should appear in the management entrance exams like CAT, XAT, MAT, CMAT, etc., and qualify for them.
• Appear for group discussions and personal interviews.
• Enroll in selected institutes according to their cut-off marks.
• Professionals with prior work experience are preferred for the MBA course.

Why MBA in Healthcare from MAHE?

The MBA program in Healthcare Management from MAHE is the most popular program for students aspiring to pursue a career in healthcare management. It is designed for professionals to understand healthcare, from patient care to hospital administration, insurance, and other compliances.

The program also allows professionals to develop strong business acumen through finance courses and build their leadership skills through project management technical skills.

The flexibility of MAHE’s online MBA program allows professionals to complete the modules at their own pace, even with busy schedules outside the class. They can consult expert faculty members online to solve doubts and keep up with regular assignments.

Conclusion

In conclusion, pursuing an MBA in healthcare management opens many chances and challenges in the industry. In the dynamic healthcare industry, skilled professionals are constantly demanding to navigate the complexities of managing the organization. The amalgamation of business acumen through the MBA course equips one to drive positive changes in the healthcare center. Whether it is operational work or the implementation of innovative technologies, healthcare managers shape the future of this industry. Therefore, embarking on this career path is sure to be rewarding and fulfilling in the long term.