Whether you are in college or graduate school and have an interest in healthcare management, take the time to look at the types of jobs available with MBA in Healthcare Management. This is a specialized degree available from certain colleges that follows the same education path as a Master of Science in Healthcare Management would. You will learn how to handle employees, create budgets and handle all the other tasks associated with running a medical facility, but the duties and tasks you’ll do differ based on the career path you choose.
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The first job that most people think of in regards to healthcare management MBA degrees is a hospital administrator. They work in all types of medical facilities, including substance abuse centers, physical rehabilitation centers, hospitals and doctors’ offices. Administrators are the ones responsible for hiring new doctors, nurses and other types of workers. They place ads online and in other places, screen applications that come in and meet with workers to find those who are best suited for the job. Other duties of an administrator include creating budgets, instituting new policies and following any state of federal laws.
Medical Facility CFO
If you have a strong background in finance and accounting, you might find employment as the Chief Financial Officer of a medical facility. A CFO is someone responsible for looking at the budget of a medical facility and its operating costs to determine if the organization has a surplus of funds or if it needs to cut back on costs. They maintain the financial records of the facility and meet with managers, executives and any directors to update them on the financial details of the facility.
According to the Bureau of Labor Statistics, medical managers earn a median hourly wage of $42.59 or a median annual wage of $88,580. The BLS also estimates that the need for medical managers will increase by 23 percent in the future, which indicates an increase of approximately 73,300 new healthcare management jobs. As one of the more popular types of jobs available with MBA in Healthcare Management, students can better prepare for working in this field with internships at the undergraduate and graduate levels. Managers often run and maintain a specific department in a hospital, but they may be responsible for all departments. They handle duties relating to budget, scheduling and keeping workers informed of any new changes.
Health Information Manager
One of the jobs available with MBA in Healthcare Management that might interest you is the job of health information manager. Those working in this field have one primary goal in mind: the spread of information. You’ll often find these positions available in large hospitals and in organizations that own multiple medical facilities. Managers take the information presented by the board of directors and shares that information with each department in the facility. They make sure that everyone knows when the board institutes a hiring freeze, a wage freeze or any other policy.
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You can earn your MBA in two years or less, but you need to give some thought to what you want to do after graduating. The types of jobs available with MBA in Healthcare Management include positions as healthcare administrators, medical managers, CFOs and health information mangers working in hospitals, substance abuse centers and other medical facilities.