The American healthcare industry continues to grow. Hospitals, physicians offices, residential care facilities, government organizations and outpatient care centers are seeking qualified leaders and managers who know the healthcare industry inside and out.
Not sure if the Health Care Management MBA program is for you? Below are 6 reasons to pursue a Health Care Management MBA degree today.
What is a Health Care Management MBA?
An MBA in Health Care Management combines the business acumen healthcare leaders need with the knowledge of healthcare systems and best practices. These graduate programs can be pursued on campus, online or a hybrid program of both. Concordia University Chicago offers a fully online program for those who need the most flexibility to complete the degree at home and on their own time.
What Can I Do With My MBA in Health Care Management?
The U.S. Bureau of Labor Statistics (BLS) predicts a 28% growth of job opportunities through 2031 for medical and health services managers. Those with an MBA in Health Care Management will be prepared to fulfill these top open roles in the healthcare industry.
The careers you may pursue with this degree include:
- Hospital CEO
- Healthcare System CFO
- Hospital Administrator
- Head of Quality Improvement
- Healthcare Association Director
- Healthcare Consultant
Reasons to Pursue a Health Care Management MBA
Aside from continuing to make a difference in your organization, there are specific benefits for professionals who pursue an MBA with a specialization in Health Care Management.
1. Advance Your Role in Healthcare or Enter a New One
If you’re enjoying working in the healthcare field and want to advance to a leadership role, then earning your MBA simply makes sense to learn the business side of healthcare.
If you aren’t currently in the healthcare field, and MBA in Health Care Management can help you enter it!
2. Increase Your Salary
The 2022 GMAC survey illustrates the increase in earning potential MBA graduates look forward to in the U.S. compared to professionals who hold a bachelor’s degree. The median starting salary for MBA hires is $115,000 compared to $75,000 for those who hold a bachelor’s degree. Keep in mind that MBA salaries can vary widely depending on position and experience, among many other factors.
3. Create More Career Opportunities
Earning your Health Care Management MBA doesn’t mean you need to stay in the healthcare field forever. An MBA degree combined with previous experience creates numerous transferable skills that other industries need in their leadership team.
4. Job Security is a Priority
If the feeling of job security sounds good to you, then earning an MBA is the right way to go. Professionals who earn an MBA degree stand out among the competition, even during the toughest hiring market. The 2022 GMAC survey found most companies who reported they were growing/expanding (94%) or maintaining their current market position/overcoming challenges (89%) still planned on hiring MBAs in either case.
5. Make a Difference in Your Community
Those in leadership positions have a great opportunity for impactful change in their organization. If you’ve seen first-hand the impact your healthcare organization has on the community and its members, then you’ve seen the changes that can make a difference.
6. The Online Format Allows For Greatest Flexibility
The majority of professionals who want to pursue a graduate degree can’t stop working full-time or work around other community and family responsibilities to attend class in person. That’s why we offer a 100% online MBA in Health Care Management, so you have the greatest flexibility to successfully complete your degree. You can partner with your advisor to create a customized degree plan that is comfortable for your unique circumstances.
Looking to learn more? Visit Concordia University Chicago’s MBA in Health Care Management program page or fill out a form and we’ll be in contact!