Working professionals often pursue a Master of Business Administration degree with the goal of getting a leadership skills boost and securing a higher paying job. According to The Atlantic, the healthcare industry has become the country's largest employer in recent years. The U.S. Bureau of Labor Statistics projects that over the next decade, one-third of new jobs in the U.S. will be in the healthcare sector. Given these trends, it's worth considering a specialized MBA program focused on healthcare leadership.
Who Can Benefit?
While a healthcare MBA may have obvious benefits for someone who is already in healthcare administration, it can also be valuable for clinicians who want a better grasp of the business side of healthcare. They'll also gain a better perspective on what it takes for patients to navigate a complicated healthcare landscape.
Two physicians who value formal education and training on the business aspects of healthcare are Dr. Autumn Orser and Dr. Christopher McDowell. Becker's Hospital Review featured their input on the importance of knowing the business side of healthcare and their reasons for earning an MBA.
According to Dr. Orser, "Combining a knowledge of medicine, including the realities of working in the current healthcare system, with a knowledge of business is the most effective way to make a difference in healthcare. Being able to speak both languages is critical to bridging the disconnect between administration, physicians, and healthcare consumers. An MBA enables physicians to tackle the bigger issues like vision, strategic growth and partnerships, team-building and corporate culture."
In Dr. McDowell's words, "The pursuit of the degree signals the physician's interest in being part of the healthcare system on a broader level. Once earned, the MBA enhances the physician's ability to speak the language of healthcare finance. It allows the clinician to be at the table during strategic decision making."
But you don't have to be a physician or work in healthcare administration to be a strong candidate for the MBA in Healthcare Leadership program. Take Bernie Zipprich, for instance. He graduated from Harvard with a bachelor's in economics before working for a consulting firm on its healthcare strategy team. He then decided to pursue an MBA in Health Care Management.
Zipprich told U.S. News & World Report that the "opportunity for social impact" was a draw for him. After earning his MBA, he went on to reorganize a company's health benefits program to encourage better attention to preventive care from its employees. Zipprich is proof that graduates can go on to find work in other aspects of healthcare aside from traditional roles, like "digital health, insurance, finance and entrepreneurship."
Boise State University's online MBA in Healthcare Leadership provides expertise in healthcare management along with a broad base of business fundamentals. Program graduates can use the tools and know-how they gain to successfully navigate a changing healthcare landscape and initiate positive changes that benefit both businesses and patients.
Sources:U.S. News & World Report: Health Care Management on the Rise for MBA Students
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