A reformation is taking place in the U.S. healthcare system. Higher education, technology and changes to federal regulations are driving this country to overcome considerable systemic problems and eventually become a model for the rest of the world. Whether you work in a doctor’s office, long-term facility, urgent care center, outpatient clinic or insurance or pharmaceutical headquarters – or if you are interested in patient advocacy, practice management or health information systems training – earning a Master of Business Administration (MBA) with a concentration in Healthcare Administration online from Avila University can be as important to the future of the healthcare system as it can be to your leadership aspirations.
Here, we look at the personal reasons for earning this degree and the larger societal reasons to encourage talented people to apply and maximize their capabilities in the healthcare industry.
Gain Healthcare Industry Expertise
An MBA in healthcare administration provides students with an in-depth understanding of the broad healthcare industry, including the legal, regulatory and ethical considerations, as well as the unique challenges and opportunities that healthcare organizations face. Along with a broad-based business foundation, students acquire a working knowledge of healthcare systems and evolving issues facing healthcare. Such broad expertise would be difficult to obtain in one job, given the narrow scope of specific roles within the healthcare industry.
Develop Your Leadership Skills
Avila University’s program includes core business school courses in leadership, strategic, financial and marketing management, which help students develop the general business acumen needed to lead healthcare organizations effectively. The concentration courses covering healthcare systems and specific issues throughout healthcare prepare students to quickly become effective leaders, either as administrators or managers and executives for healthcare organizations.
Managers typically oversee healthcare organizations’ finances, healthcare records, patients and operations. Administrators typically work in procedure and policy changes, information technology, human resources and staff onboarding and training. Whether your career takes you down a managerial or administrative path, with this program’s broad industry expertise, you can contribute to healthcare policy discussions and decision-making processes.
Make an Impact on People’s Lives
Working in healthcare administration provides a chance to positively impact people’s lives by improving the delivery, quality and cost-effectiveness of healthcare services. An MBA in healthcare administration prepares students to make a meaningful contribution directly through managing patient care or indirectly through the policies and procedures of healthcare organizations. Graduates may also pursue careers in research that can result in improved healthcare outcomes across the system.
Help to Bring Needed Reforms to the Healthcare System
Even though many of the world’s leading healthcare and pharmaceutical companies are American, healthcare spending per capita in the U.S. exceeds nearly all other developed nations. The societal concerns include equitable access to healthcare, quality of care and poor health of disadvantaged groups. At an individual level, patients feel they don’t receive enough attention from providers. Switching jobs and insurance plans forces them to switch providers, and costs have been skyrocketing. Over-prescription of pharmaceuticals has led to too much dependence on medicine, a lack of preventative care and an opioid epidemic. These are also factors in the recent decline of life expectancy in the U.S.
A critical component of any possible reformations in the system is the education and training of healthcare professionals. By earning an MBA in healthcare administration, you can develop the knowledge and skills necessary to understand the complexities of the industry and the interplay between policy and healthcare organizations. In addition, you can potentially influence policymaking at the institutional or public level.
Pursue Rewarding Job Opportunities
Healthcare is a rapidly growing industry, with 28% job growth (much faster than average) projected between 2021 and 2031 and median pay of $101,340 per year, according to the U.S. Bureau of Labor Statistics (as of October 2022). Earning an MBA in healthcare administration can help professionals stand out in the job market and qualify for leadership positions. Some of the potential career paths for graduates of Avila’s online MBA in Healthcare Administration program include:
- Hospital or health system administrator: Healthcare administrators oversee the day-to-day operations of hospitals, clinics and other healthcare facilities.
- Healthcare consultant: Healthcare consultants work with healthcare organizations to develop and implement strategies to improve operations, increase efficiency and reduce costs.
- Health information manager: Health information managers secure patient medical records and ensure healthcare organizations comply with relevant laws and regulations.
- Health policy analyst: Health policy analysts work in government agencies, think tanks and advocacy organizations to analyze healthcare policies and recommend changes or improvements.
- Pharmaceutical or medical device company manager: Graduates can use their knowledge of the healthcare industry to manage product development, marketing and sales.
Overall, graduates of Avila’s online MBA in Healthcare Administration program have a wide range of career opportunities in the healthcare industry and are well-positioned for leadership, influence, substantial compensation and the chance to make an impact in a rapidly growing field.