What is a Healthcare MBA?

If you are considering pursuing a Healthcare MBA, there are some important factors to take into consideration such as the difference between an MBA in Healthcare and a traditional MBA as well as the prerequisites, coursework and where you can work with a master’s degree in healthcare. Regardless of which degree you’d like to earn, time management is the key to success in any MBA program. Students must be able to balance networking with challenging classwork as well as a full-time job if they are taking courses on a part-time basis.

MBA Versus MBA in Healthcare

A Master of Business Administration (MBA) degree is a graduate degree at the master’s level. The curriculum focuses mainly on high-level strategy, providing students with the skills, knowledge and background they need in a wide range of business-related subject areas. Students who are entering the field for the first time, thinking about changing careers or looking to advance their employment opportunities typically seek an MBA as it is puts them on the fast track to a position in management, according to the US News and World Report.

The difference between a traditional MBA and an MBA with a concentration in healthcare is that the latter contains all of the standard coursework offered in a regular MBA program, but students must also complete coursework that focuses specifically on the healthcare industry. Students may also be required to complete an experiential learning opportunity such as an internship to gain practical, hands-on experience in the field of healthcare.

Prerequisites for an MBA in Healthcare

Although many graduate students come from business-related fields such as marketing, management, accounting and finance, most colleges do not require students to have business experience in order to earn an MBA in Healthcare. Students pursuing this degree often come from a variety of different professional and academic backgrounds, including medicine and nursing, English language and literature, philosophy, history, political science, economics, mathematics, the physical sciences and engineering. The only prerequisites, aside from obtaining letters of recommendation and submitting a completed application, are a bachelor’s degree from an accredited university and a valid GMAT score within the last five years. However, be aware that some programs may have minimum undergraduate GPA requirements, so students considering these programs should check with their respective schools for more information.

Coursework in an MBA in Healthcare Degree

The MBA in Healthcare degree typically includes a series of foundation courses that will equip students with the knowledge they need to succeed in their business-related courses. Coursework may cover topics such as international business transactions and business information systems as well as marketing, economics for managers, investment management and entrepreneurial management. Students can also expect to take courses in organizational behavior and management, operations management, corporate financial management, business law, statistical methods for business and economics and financial and managerial accounting. Healthcare-focused courses will likely include topics such as insurance, risk management, healthcare administration, public health, accounting for nonprofit organizations, nonprofit management, healthcare reimbursement and health law and policy.

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Now that you have learned a little more about the master’s degree in healthcare, you can start to determine whether it is right for you. When choosing a college for your Healthcare MBA, it is important to consider not only the coursework and prerequisites you will need but also accreditation of the school to which you are applying.