If you are seeking job advancement in the medical industry in the area of business management, a healthcare MBA can be an important step for securing your future. You may work closely with patients from all walks of life, and with other medical professionals. Here is important information on this type of training. Before you apply for business administration training in the medical field, you will need to have an undergraduate degree in your chosen field. In fact, a Bachelor Degree may be mandatory for most programs. Check with schools that you are considering to see what other prerequisites are needed for acceptance into health care MBA degree programs, like test scores and grade point averages.
Health Care Administration Training and Education
Many of your health care MBA courses will deal with the business and management side of the health care industry. For example, Essentials of Business Development is an important course for understanding what it takes to run a business.
The health care MBA degree program blends important business concepts like economics, marketing, and accounting. You may need to take a fundamental course, followed by an advanced course. At the end of the courses, you will need to develop your own personal business plan.
When you take Managerial Economics, you will learn about economic forces that influence your decision making in things like competitive markets and cost analysis. You will also learn about the importance of risk management and its relation to things like production and cost estimation, in business. The main objective of the course is to help you gain a better understanding of developing and designing your business strategies.
Health Care Administration Careers
If you take a job as a clinical manager, it may be something like director of physical therapy. This will require extensive training and experience as a physical therapist. You will need to understand about patient information and medical records administration. You also will be responsible for your department in the way of policies, procedures, and work objectives. You also may need to develop a budget for your department.
Health information managers are responsible for the security of all of their patient records and personal information. This means that you will need extensive training in computer software programs, and computer and Internet security measures. You also will need to be certain that only authorized personnel have access to your records.
Perhaps you will be an office manager in a physician’s office. You may handle most day-to-day office operations, while answering to the doctor for things like policy decision. In larger facilities you may have more responsibility and actually run all of the day-to-day operations.
Estimated Income and Projected Job Outlook
Health care services manager typically make about $80,000 annually. However, wages can be considerably above $100,000 per year. This depends on the job and job experience. For example, managers working in general medical and surgical hospitals, average $87,000 a year. Nursing home administrators typically make an annual wage of $71,000.
The increased need for medical professionals with Health Care MBA credentials, will extend well into the next decade. More and more people are in need of medical care, and there is a critical need for workers in all aspects of the industry. Statistics and figures are from the US Bureau of Labor Statistics.