Top 5 MBA programs for healthcare professionals

Do you have a passion for learning about business but are also fascinated by healthcare? It’s time to enroll in an MBA in healthcare management, a course that combines your interests and passion. A recent survey has reported that the Indian healthcare industry has grown at an inflated compound annual rate of 22% since 2016.

Naturally, the demand for skilled healthcare professionals  who can manage business insights with technological understanding is in the reckoning. Now, if you want to build your career in healthcare administration but don’t know where to start, pursuing an MBA in healthcare management would be a favorable option. Keep on reading to know more about the best MBA programs for healthcare professionals.

Importance of MBA programs for Healthcare Professionals

An MBA in healthcare management is a postgraduate-level program that prepares ambitious leaders for managerial positions in the healthcare industry. Let’s look at the advantages of pursuing the prestigious program:

1. Developing business acumen and leadership skills

The major advantage of an MBA in healthcare management is that it helps you develop a  strong business acumen. You will be exposed to various aspects of businesses, including finance, marketing, accounting, and operations management. Critical knowledge about these domains will help you manage your healthcare facility effectively and make smart, strategic decisions. 

2. Understanding the intersection of healthcare and business

An MBA in healthcare management is the best interdisciplinary approach to bridge the gap between healthcare and business. It helps students understand the complexities in healthcare sectors from the business perspective, including finance, technology, and policy.

Also read: 10 good reasons for working professionals to pursue an MBA online

3. Enhancing career opportunities and advancement

In the highly competitive job market, an MBA in healthcare management allows you to stand apart from other candidates. The Bureau of Labor Statistics reports healthcare administration is a lucrative field with an anticipated annual growth rate of 18%. The graduates are well-groomed to work in various healthcare settings, government agencies, and insurance companies.

4. Leveraging managerial expertise to improve healthcare delivery

Healthcare management typically encompasses various activities, including strategic planning, human resources, public relations, auditing, financial management, and risk management. Earning an MBA in healthcare management will enable you to develop managerial policies to save costs and provide quality healthcare. Pursuing in any hospital management course will help you start a management or administrative level career in healthcare industry.

5. Navigating the evolving landscape of healthcare policies and regulations

As a leader in the healthcare sector with an MBA degree, you have to make critical decisions about healthcare policies and HIPAA regulations to meet the evolving landscape. With an MBA’s knowledge, you will be equipped with the knowledge to develop strategies and improve the care of patients.

Also read: Healthcare management: Important stats & figures in 2023

Selection criteria for the top MBA programs

An MBA in healthcare management is a gateway to an intriguing and rewarding career. However, the most challenging part is choosing the best institution to pursue the course. So, keep the following parameters in mind when choosing an apt platform.

1. Reputation and rankings of the program

Choose an institution whose reputation is backed by world-class facilities and values. Make sure to consider the rankings of the program, which reflect the quality of their standard. Highly ranked and accredited MBA programs will give you an excellent learning experience and confidence to face real-world challenges.

2. Curriculum and specialization options

Institutions are now moving forward with rigorous curricula encompassing various aspects of experiential learning. It must include exchange programs, electives, and internships to provide them with hands-on approaches.

3. Faculty expertise and industry connections

The MBA faculty should have academic qualifications and be experienced experts in research areas, publications, and industry engagement. They should be able to deliver up-to-date knowledge from an industry point of view and share their insight for management studies.

4. Alumni network and career services

A strong alumni network is a reflection of the reputation of the institution. Therefore, choose a platform with an active alumni network that can mentor students and help them move into the corporate world.

5. Flexibility of the program 

Ensure to consider the flexibility of your choice. This becomes especially important if you are already working a full-time job. Choose an institution that offers programs with different flexible learning modes, such as full-time, part-time, online, and executive MBA in healthcare.

Top 5 MBA programs for healthcare professionals

Also read: What are the different types of MBAs you can do in India?

1. MBA in Healthcare Management, Manipal Academy of Higher Education

Online MBA in healthcare management at MAHE is designed to upskill and upgrade the expertise of professionals in healthcare administration. The course offers various internship opportunities to explore health informatics, hospital planning, infrastructure management, and other aspects to let the learners emerge as future-ready professionals.

The program also has extensive industrial collaboration with an interdisciplinary approach to delivering, managing, and planning healthcare services.

2. MBA in Hospital and Health Systems Management, BITS Pilani

MBA in hospital and health system management by BITS Pilani is offered in association with Christian Medical College, Vellore. It is designed for working professionals who can attend course sessions online. They provide unique opportunities for students through an internship at CMC, Vellore, to experience the administration of the modern healthcare system.

3. MBA in Executive Healthcare Administration, FMS

Faculty of Management Studies University, a leading public business school in New Delhi, offers an executive MBA in healthcare administration designed for professionals with significant industrial experience. The course focuses on delivering an effective business strategy course and instilling skills in learners.

In the internship opportunities under the guidance of the University of Delhi, the future leader will be exposed to real-world complex situations in resolving strategy and healthcare system problems.

4. MBA Pharmaceutical Management, Institute of Health Management Research

IIHMR is one of the pioneers in India instituted with the sole focus on health system management. MBA in pharmaceutical management is undertaking rigorous training, research, and consulting with close collaboration with international organizations, including UNFPA, UNICEF WHO, ODA, and more. The program also has international linkage for collaboration with the University of North Carolina, USA.

5. MBA in Hospital Administration and Healthcare Management, DY Patil University

DY Patil University is designed for aspiring management professionals who want a career transition to healthcare organizations. The course enhances the learners’ critical thinking and problem-solving skills to seek innovative solutions to complex management problems. The extensive consultation and collaboration with leading research organizations enable leaders to analyze, design, and implement different health strategies amidst the diverse nature of the industry.

Conclusion

The healthcare sector is one of the fastest-growing fields in the world. Therefore, there is also high demand for talented managers who can manage and monitor every administrative work. Enrolling in Manipal Academy of Higher Education(MAHE)’s online MBA in healthcare will be a great step to achieving your desired goals. Visit Online Manipal site today to start your learning journey without compromising your profession!