In this job, you’ll help departments and facilities improve their administrative practices. With an average salary for healthcare managers of $90,000 and job growth of 32% (Bureau of Labor Statistics), a masters in healthcare administration can help prepare you for a career in this important field. Some MHA graduates become CEOs. However, thanks to the significant rising demand for healthcare administration staff, there is room in this niche for individuals who do not obtain graduate degrees. Is a Master's Degree in Health Care Administration Worth it? To qualify for the most competitive and desirable medical administration positions, the experts at the BLS recommend earning a Master’s degree and gaining experience with healthcare IT systems. To tailor your school experience to your future career plans, you may be able to pursue a concentration, such as logistics, nonprofit leadership or informatics. The work you do in the office may include budget preparation, staff oversight, supply management and regulatory compliance. Top10onlinecolleges.org is an advertising-supported site. Read on to explore some of the possible career paths and the corresponding answers to these questions. DegreePlanet.com. Is a master's in health care administration worth it? You might be in charge of staffing, training, budgeting and billing. As the aging population’s medical needs increase, there may be even more openings for administrators. Careful administration keeps hospitals, group practices, long-term care facilities and other medical organizations running smoothly. There are a variety of different programs that are frequently referred to as a Masters of Healthcare. You could also consider a career as a healthcare consultant who advises organizations on their administrative practices. If you oversee the activities of a healthcare facility or department, you may be known as a medical and health services manager. You could head up the team that procures medical supplies and distributes them to departments throughout your organization. Doctors and nurses provide essential clinical care, but they don’t necessarily know the ins and outs of daily business operations in their facilities. The decisions you make and the leadership you provide will set the direction for your organization. This compensation does not influence our school rankings, resource guides, or other editorially-independent information published on this site. Submit applications to these flexible programs to start working toward a future in healthcare administration. Instead, you can enroll in an online MHA program. Both customer service skills and a keen understanding of data analytics can help you improve patient satisfaction. While the core classes in the program curriculum are similar to the healthcare-focused classes in the MBA in healthcare administration program, you will build on them with highly-focused courses that take your understanding of the field to the next level. Certainly it is worth investing your time and money in for the great job security and strong financial rewards you can reap. Why Get a Masters in Healthcare Administration Degree The MHA degree is a lengthy and costly one, and enrolling is a decision not to be taken lightly. Elka Torpey, an economist working in the Office of Occupational Statistics and Employment Projections, has written an article exploring the question of whether it’s worthwhile to earn a Master’s degree. Quality assurance might be another direction you could go with an operations career. Reviewing the curriculum lists of several different programs could help you decide which type appeals to you. There are many leadership roles available in healthcare organizations, and, with an MHA, you’ll be a suitable candidate for many of them. The money was gone. Is A Masters in Healthcare Administration Worth It? Earning a Master's in Healthcare Administration provides the knowledge and experience to pursue a wide range of healthcare-related careers. Healthcare operations directors perform duties to ensure that patients receive the care they need from clinicians. Based on Bureau of Labor Statistics data, operations managers earn an average of $100,780 per year. The answer is also yes if you want to have your pick of the best possible job opportunities. This is a field where academic credentials directly affect earning potential. Whether or not you decide to pursue an advanced degree in healthcare administration, the job is a generally a rewarding one that offers a comfortable salary range. In the article, she reveals that medical administrators holding bachelor’s degrees earn annual median pay of only $70,000 US dollars. Master of Business Administration (MBA) A master’s degree in business administration takes the coveted first spot on the list of the top eight highest-paying master’s degrees, primarily due to the broad array of concentrations and high-paying careers that recipients of this degree go on to pursue. Strong computer and statistical skills can help you succeed in that area. That’s why healthcare administrators are needed in nearly every health organization. The average annual salary for medical and health services managers is $100,980, according to the Bureau of Labor Statistics. Home » Is A Masters in Healthcare Administration Worth It? Your experience level will influence your pay as well. If you think you want to pursue a career in the healthcare industry, you may be wondering whether it’s worthwhile to obtain a graduate degree in healthcare administration. If future earning potential is your most important criteria for determining whether to pursue a Master’s degree, there can be no doubt that it would be beneficial to successfully complete a graduate degree program. For over 8 years, Degree Planet has been dedicated to helping college students like you find degrees that match your career goals and interests. You might also oversee budgets, advertisements and supply acquisition. December 4, 2019 in Health Care. Hospitals and doctors’ offices are common places of employment. For your efforts, you may be rewarded with a generous salary. If you have your sights set on leading a medical-supply corporation or want the flexibility to apply your skills outside of healthcare, an MBA could be a better choice. You might earn more as a medical services manager in a large hospital system than you would as the program director of a nonprofit community clinic. Yes, based on the satisfaction that comes with this career path, the essential knowledge that you’ll gain and the high salary potential, it certainly is! With an average salary of $90,000 (Bureau of Labor Statistics) and 32% job growth for medical and health services managers, a masters in healthcare administration can help you launch a … Inventory management might be your responsibility as an operations director. An MHA program will focus on operations in the healthcare sector, but an MBA program will give you a broader business base and spend less time on health-specific studies. A Master of Healthcare Administration is a graduate program that will help equip you with the know-how and credentials for health leadership. You may interview organization representatives to learn about their practices and then deliver presentations about your findings. It's a blessing in that you'll be able to explore management-oriented careers in a wide range of healthcare-related organizations and settings once you've finished your program. With this degree on your resume, you should be a great candidate for leadership roles in a variety of healthcare organizations. Many different employees or departments may report to you. Long-term care facilities need administrators too, but special licensure is sometimes required. Is an advanced degree necessary to obtain a good job in this field? A master's degree in healthcare administration (MHA) is mostly a blessing with a bit of a curse tossed in. The top executive of a hospital system, a pharmaceutical company or a medical supply manufacturer often holds the title of chief executive officer (CEO). George Mason University - Online Master of Health Administration in Health Systems Management; Saint Josephs University - MS in Health Administration; The sheer size and complexity of the U.S. healthcare system is nothing short of extraordinary.