What is an MBA in healthcare management?

A healthcare management MBA concentrates on preparing graduates to become healthcare leaders in administration, financial management, and project management. 

This guide can help you decide if earning a healthcare management master of business administration is the right choice for you. It contains insights into program formats, coursework, costs of earning your degree, and skills you'll learn. 

You'll also find a checklist of what to look for in a healthcare management MBA and return-on-investment figures.

Electives in a healthcare management MBA program

Degree plans usually start with a year of core MBA courses like accounting, ethics and law, finance, marketing, and business strategy and leadership. You may also study information technology, human resources, management, and innovation. 

The second year provides opportunities to participate in internships or independent study, complete capstone projects, and choose electives.

Electives may include:

• E-health business models
• Eldercare management
• Global health and the private sector
• Healthcare entrepreneurship
• Medical device management and strategy
• Financial management and performance evaluation in healthcare organizations

Why get a healthcare management MBA?

The growth of healthcare organizations and an aging population mean opportunities for MBA healthcare management concentration graduates. The U.S. Bureau of Labor Statistics (BLS) projects a 32% job growth increase for 2019-2029.

READ THIS: Is an MBA worth it?

Advantages to pursuing a healthcare management MBA include:

• Flexibility: The two-year on-campus MBA is becoming less common in favor of online, evening, and weekend options. 
• Skills: MBAs teach key business skills with lectures, projects, and hands-on internships.
• Return on investment: The average tuition costs for a two-year MBA total $72,200 in-state and $98,400 out-of-state. The BLS, however, lists a median annual salary for healthcare managers at $104,280.
• Opportunities: MBA healthcare management graduates may become clinical managers, consultants, health information managers, hospital executives, and nursing home administrators.

What to look for when choosing a healthcare management MBA program

When researching and selecting an MBA healthcare management program, pay attention to accreditation, location, costs, and student resources. These factors will help you narrow down your list. 

Accreditation

Accreditation signifies that an MBA healthcare management program undergoes regular and rigorous review of its curriculum. 

Online business school accreditation is just as important as it is for on-campus programs. 

Location

Location can determine the tuition rate, internship opportunities, and commuting costs. Consider online MBA programs' locations, too, especially if on-campus intensives require weekend or summer attendance.  

University resources

MBA students can benefit from campus resources like internship placement, professional conference access, an alumni network, mentorship, and career services. 

Remote learners should look for online library and advising resources. 

Program length

The typical MBA curriculum spans two years. However, spending two years of full-time, on-campus study is giving way to more flexible options. Colleges offer online and hybrid study, weekend or evening classes, and self-paced or accelerated learning.

Cost

Tuition costs can vary by geographic location, public or private institutional status, and in-state or out-of-state residency. Housing, transportation, and course materials add costs. 

An online program, state university, or rural college may offer savings. Make sure to apply to MBA scholarships, too.

In conclusion

Armed with information, you may be ready to start researching MBA programs. 

With so many learning formats, school environments, and flexible class scheduling options, you are sure to find one that fits your academic and professional goals. 

This article was reviewed by Alexandra Tapia, MBA

Alexandra is a driven, high-spirited, unapologetically energetic, and optimistic person. She prides herself on her devotion to becoming a better business leader and human. She has an insatiable hunger for knowledge, asks a million questions, and thrives on making change.

She has reached many populations throughout her career. She's studied recidivism, helped prior criminal offenders reintegrate into society, and built trusting relationships while working at a homeless shelter. 

Her passion for education also shines through in her work. She taught younger children for many years, but has since turned her focus to higher education. She loves collaborating with others to be a disruptor in the education industry, creating and delivering programs that are unlike others — all while building a better future for her clients and students. 

Tapia is a paid member of the Red Ventures Education Integrity Network. 

Unless otherwise noted, job growth and salary data were drawn from the U.S. Bureau of Labor Statistics as of June 27, 2022.

Last reviewed April 26, 2022.