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During 2020 and now going into 2021 the world is seeing one of the biggest dangers to public health for generations. Across the world, healthcare infrastructure is struggling to cope with unprecedented demand and in many countries, it is literally buckling. Modern systems are nothing without the right professionals to run them and take care of the patients and effectively manage the hospital’s equipment and supplies.
Healthcare has been transformed over the centuries, and modern technology continues to help further modern health systems and in these current times, having qualified healthcare staff is vital.
What is an MBA in Health Systems Management?
An MBA is a Master’s in Business Administration. It can lead to many doors opening in different fields and industries. This one is aimed towards the management of systems in healthcare.
If you took this degree it would learn about operations management and then about how the finances and business aspect of healthcare work. There are various aspects that you would study including marketing management, operations management, finance principles, accounting practices, legal and ethical principles, and economics.
You would end up with a rounded knowledge of leadership, management, business & finance, quantitative methods, and health care policies.If you wanted to pursue a career in medicine then you would attend medical school. These are quite different areas of healthcare.
Why is this important?
Healthcare needs to be profitable through all the processes being efficient. However, decision making has to be in the best interests of the patients and made with responsibility. Someone with an MBA in health systems management would have the skills to make decisions ethically and be in control of their area of the hospital or health institution they are employed at.
What career options are there?
For someone with an MBA in health systems management, they would look for leadership roles with responsibility. Director or vice president of health care services is possible. Health care consultants or nursing home administrators are two others that might appeal to someone who wants to be closer to their patients.
Here are just some options:
- Healthcare administrator
As an administrator or assistant admin, you would look after records, medical billing, ordering supplies, and review projects.
- Nursing home administrator
This is one way to learn about administration before deciding to specialize in one area. A nursing home administrator oversees the whole facility and therefore controls every aspect. You will also need to understand your patients’ needs.
- Health information managers
For someone with an interest in IT, this might be a suitable role. You would be to manage a team that is responsible for IT work and it would involve compliance and accurate record-keeping among other responsibilities.
- Clinical research manager
You would need to be financially minded as this role includes controlling budgets for the clinical trials. Any money awarded from the government or other sources would be in your hands and needs to be managed carefully.
- Healthcare Marketing
You would need some experience in marketing as well as your MBA but work in social media or health marketing is another option for you.
How can you start an MBA?
If you are interested in a Health Systems MBA or a healthcare career then you can pursue this online. You will find this option makes it possible for you to start your studies while continuing to work and have an income. It is this modern way of learning that makes it practical now for many people to obtain a degree.
How long does it take to get an MBA?
The health systems MBA is made up of different modules and you need a certain amount of credits to pass each area of the course. Normally it would take around 2 years to gain the degree.
Admission acceptances differ from one university to another. Generally, you would need to submit letters of recommendation, college or high school transcripts, and your own resume. There may be a requirement to submit your GMAT or GRE scores and have a suitable GPA level.
How does all this help you?
If you want a long-term career then healthcare is a growing area. Many careers that once seemed stable for the future are now looking rocky but the healthcare industry continues to expand rapidly. According to the BLS (Bureau of Labor Statistics), the growth rate for healthcare workers is about 15% over the next ten years. Much higher than other career areas. Although you would start your career in a mid or entry-level area your salary prospects as an MBA holder are very promising.
The healthcare industry needs people who are passionate and qualified in the right areas to drive and manage health facilities correctly, ethically, and profitably. Nowadays, with the terrible cost that 2020 saw with Covid and the ongoing struggle to contain this virus, it is more important than ever that modern healthcare systems are managed as effectively as possible.