Healthcare administration is the business of caring for patients. Healthcare administrators are responsible for overseeing and leading the daily administrative operations of hospitals and other healthcare facilities. There is a lot you can do with an master’s of business administration (MBA) in healthcare administration, and if you’re unsure whether an MBA in healthcare administration is worth it, know that at Tiffin University, you’re definitely making an investment worth your time.
This career field is one of the most in-demand in the nation, with health administration job growth projected to rise 32 percent by 2030. This, paired with a high salary, means you have a great opportunity ahead.
How to Earn a Healthcare Administration MBA
With the option to study online or on campus, Tiffin University’s MBA in healthcare administration is among the most flexible educational options you can have. If you are a busy working professional with many competing demands, online learning may best suit your needs because you can earn your MBA at a pace that’s best for you. If you crave the campus experience and want to have a chance to get in the classroom and learn hands-on, there’s room for you on TU’s campus. No matter the option you choose, Tiffin University makes sure that earning an MBA in healthcare administration is worth it.
Because TU is so flexible, the time it takes to complete your degree varies. Some full-time students complete their degree in as little as 14 months, while students studying part-time earn their MBA in healthcare administration in about two and a half years.
In addition to your core MBA curriculum, you’ll have the opportunity to study courses specific to healthcare administration. Some of the classes you’ll participate in as you earn your MBA in healthcare administration include:
- Current Issues in Healthcare Administration
- Healthcare Policy, Law and Ethics
- Managing Healthcare Systems
- Healthcare Finance and Process Management
All of the MBA program’s classes sharpen your business skills and keep you up to date on the latest industry trends impacting healthcare operations. With an expanded knowledge base, there’s really no limit to what you can do with an MBA.
What Type of Career Options Are There with an MBA in Healthcare Administration?
With health administration job growth on the rise, you’ll find that your MBA in healthcare administration is a versatile degree to have.You can also enhance your degree by adding a second concentration to your MBA in healthcare administration such as data analytics, finance or marketing. Additional credentials on your degree prove that you’re a diligent, focused worker.
While you can certainly work in a care facility like a hospital or clinic, you can also apply your degree to a corporate setting, or even the government or nonprofit arena working in public policy. Here are a few examples of MBA in healthcare administration jobs:
Medical and Health Services Manager
This is one of the most common occupations for an MBA in healthcare administration. In this role, you’d be responsible for leading all of the business activities within a hospital or clinic. Most medical and health services managers work a standard work week in offices, and the majority work within a hospital, although some work in doctor’s offices, nursing facilities or government facilities.
Administrative Services and Facilities Manager
Administrative services and facilities managers ensure that hospitals run efficiently by planning, directing and coordinating its business operations. This is a full-time job, and some managers work more than 40 hours a week. Most people who hold this title work within a hospital, and their job is primarily in an office within a healthcare setting, though sometimes it’s necessary to walk to grounds or other facilities within the hospital.
Management Analyst
A management analyst is one of the MBA in healthcare administration jobs that requires a sharp mind and a nose for business. Your primary role is to analyze and recommend ways to improve a healthcare facility’s efficiency. You may work within a consulting firm, or be hired by a hospital network directly, and typically this job is a demanding, full-time role that may exceed 40 hours a week.
Top Executive
Simply put, as a top executive at a hospital, you are the leader of the pack, making final decisions on operations, staffing and budget. This is a fairly stressful role, since you are who people turn to for answers. Most senior executives work long hours and exceed the standard 40-hour work week, with nights and weekends common. Expect to work in an office, but also have a lot of traveling, especially if your healthcare system has multiple locations.
How Much Can You Make with an MBA in Healthcare Administration?
Because this career field also comes with a lot of stress and requires a lot of specialization, the MBA in healthcare administration salary is generally high. Depending on what type of role you go for, and where in the country you’re located, your salary will vary.
The median annual wage for medical and health services managers was $101,340 in May 2021. Those working in state, local and private hospitals earned, as a median, $119,450 annually.
The median annual wage for administrative services and facilities managers was $99,290 in May 2021, and specific to healthcare facilities, the average median salary in May 2021 was $88,090.
The median annual wage for management analysts was $93,000 in May 2021. Most management analysts work in the professional, scientific and technical services sector, where the median annual wage in May 2021 was $100,170.
Top executives earned a median annual salary of $179,520 in May 2021. Specifically, senior leadership working in healthcare and social assistance earned a median annual wage of $154,650.
Changing Career Paths
The global pandemic has significantly altered the healthcare landscape. Increased demand for leadership in the healthcare setting means that you have a lot of options when it comes to what you can do with an MBA in healthcare administration.
If you have been considering making a career leap or a shift into a new industry, keep in mind that health administration job growth is on the rise and not expected to stop. This is a great opportunity for a person who wants to be a leader and also help other people live healthier, happier lives.
Tiffin University’s MBA in healthcare administration program comes with plenty of support for students along the way. Whether you choose to earn your degree online or on campus, you’ll learn from instructors who have the industry expertise and applicable know-how that will guide you to a rewarding career.
How Can You Earn an MBA in Healthcare Administration?
The MBA in healthcare administration program at Tiffin University sets you up for a successful journey along your career path. Flexible start dates and study options mean that you can learn and earn your degree at your own pace. Affordable tuition, discount opportunities and no application fees mean that you’ll get a great return on your investment. The ability to transfer credits and get your degree faster means that you won’t have to re-do what you’ve already completed.
There are so many reasons why an MBA in healthcare administration is worth it, and so many reasons why TU is the ideal institution to earn your degree. Contact our admissions team to schedule an information session today.