Thanks to the age of persistent development in the healthcare management industry, in addition to the reform and various changes to the industry. Professionals and students at different levels are becoming more attracted to the administration and management roles, which keep insurance companies, hospitals, and many other healthcare providers accountable. Many students nowadays are showing interest in pursuing a healthcare management degree, learning the authoritative management methods and nuanced regulations that keep healthcare providers within the budgets. The management degree also provides education on offering optimum patient care, meeting the standards with excellent results, and directing the Institute toward further growth in the industry.
Healthcare Management Degrees – Types of Degrees
Usually, healthcare graduates can select from an undergraduate program or a graduate-level program, both of which will offer a unique set of course programs that focus on different regulatory, advisory, and management skills essential for a thriving healthcare management expert.
At the undergrad level in the healthcare management field, management techniques and strategic communication methodologies are primarily focused. Sometimes, graduates pursue healthcare management as an application within a more extensive management or business administration degree program at university or college. In both cases, graduates will have to learn the fundamentals about healthcare industry regulations, leadership issues that are relevant to healthcare departments and employers, and further generalized knowledge on dispute resolutions among staff, significant management practices, and taking care of requirements and personal details of the patients.
Usually, degree is considered as a broader or more independent business education line up. Most of the healthcare graduate level programs focus mainly on the requirements of today’s medical providers and how the needs are going to evolve eventually. At this point, students will aim more on studies relevant to Healthcare law and policy, industry finances related to payment and patient care, organizational behavior, human resources, and more.
Both the degrees are essential in the present job market. Some jobs such as entry-level jobs in the field and healthcare organizations seek only candidates with a bachelor’s degree. Securing a graduate level degree in the industry is a wise step to secure a good job and sustain within the healthcare management field.
There are different types of graduate degree choices in the healthcare management industry, which include:
Doctor of Healthcare Administration
Doctor of Public Health
Master of Business Administration with a concentration in Healthcare Management (MBA-HCM)
Master of Public Health (MPH)
Master of Healthcare Administration (MHA)
How To Choose The Right Program?
Just with any degree, there are some important factors that you need to keep in mind while selecting the right healthcare program, which is not only suitable for your scheduling and financial requirements, but also should meet your career prospects. Here are a few things that you should consider while choosing the right healthcare administration degree:
Accreditation: Accreditation is crucial for almost all the degree programs, because employers especially in healthcare field usually consider a degree from a non-accredited institute as worthless. You should pay proper attention to the accredited listed bodies of the school, and consider taking up the higher education from an accredited college.
Some accreditations in the field include the AACSB (Association to Advance Collegiate Schools of Business), the CEPH (Council on Education for Public Health), and the CAHME (Commission on Accreditation Healthcare Management Education).
Resources: You should know whether or not the school has a committed internship service or a placement office. You may also want to know if there is a reasonable way of contacting any professor by email or other option in case you have any concerns and questions. Also, can you choose both offline and online classes, and carry on with the college through apps or websites? These are only some of today’s basic amenities and resources that enhance the significance of an degree program, which will help you make the most out of your tuition fee and credit. Make sure you do not not give up key sources, regardless of how unimportant they may seem.
Rankings: Most of today’s programs are ranked through some metrics, such as demanding nature of the coursework, number of occupational or education opportunities during the course, and the cost of tuition. You should pay keen attention to such rankings, because they are researched carefully and provide early approach into the eminence and lifetime significance of a healthcare management degree program. The United States News and World Report Ranking System is one of the most commonly trusted ranking systems. Schools are usually ranked by many factors such as their overall performance, outcome of a particular program, significance of the learning, and so on.
Where To Pursue a Healthcare Management Degree? Though there are many colleges that offer healthcare management degrees, following are some of them that stand as the best choice for many students:
The University of Pennsylvania: Healthcare administration degree at the University of Pennsylvania comes with an Ivy League credibility. It is offered through Penn’s Wharton School of Business. It is a highly ranked degree program in the healthcare administration/management in the United States. You can select from an MBA or undergraduate in healthcare administration and management, or even a PhD program in the healthcare industry that will prepare you with the essential skills to do teaching or participate in management roles.
Northeastern University: This University is very familiar for its excellence in teaching in a wide range of programs. The Northeastern University has developed one of the most momentous online healthcare management programs for those who want to develop their career in healthcare administration field. It offers Bachelor of Science (BSc) in Health Management to undergrad students. Students who graduate from this university will have ample job opportunities in the market as the degree carries a reputation.
Ohio State University: Ohio State University is, no doubt, considered as one of the leading and most famous universities and colleges in the U.S, with very affordable fee, tuition and esteemed degree programs which will let you succeed in your career goals. Its healthcare administration programs are well-developed, and sessions are taught by highly experienced real-time professors in the industry.
Healthcare Management Degree – Career and Salary
Healthcare administration and management industry is mounting faster than any average occupation countrywide. According to the BLS (Bureau of Labor and Statistics), the healthcare management industry will grow approximately 22% by the end of this decade. It is great news for both graduate degree and undergraduate degree holders from accredited institutions.
According to BLS, at present average salary for an entry-level position in the healthcare management field is about $88,580/annum, which is equivalent to $42.59 per hour. However, salaries in the healthcare industry vary depending on various factors.