Healthcare And Business For The New Era

Aug 29, 2014 by

The healthcare industry offers a wide range of career opportunities for those who are interested in medicine. However, not all of these positions are medicine-based. There are also many healthcare positions that are more business-oriented such as managers, administrators and executives. If you are interested in working on both the business and the medical side of healthcare, you may want to consider a healthcare MBA degree program.

Healthcare industry

According to the Bureau of Labor Statistics, the healthcare industry will see an additional five million healthcare jobs by the end of 2022. That means that the potential for advancement will depend on what skills you possess aside from the necessary medical skills.

Providing Practical Business Skills

To achieve leadership positions in any industry, a professional will typically need to have earned an MBA to access the highest levels of success in business. For the healthcare industry, having an option for an MBA that is concentrated on the specific needs of healthcare facilities is desired. The core focus of a healthcare MBA is to provide students with the practical skills needed to effectively manage personnel, costs and marketing to make the hospital or private practice a successful one.

Along with learning basic business and leadership skills, a student working towards a healthcare MBA will also learn how to apply these skills in the healthcare industry, which has a business model that differs from other business professions.

Career Advancement

The best way for anyone already in the healthcare industry to transition from being a medical professional to being a business professional in healthcare is to hold an MBA. Over the span of your career, you will see many more options for career advancement if you hold an MBA. Those who have practical business skills and have shown leadership skills in previous roles can easily transition to more business-oriented roles. These roles can include hospital administrator, the chief financial officer at a medical facility or managing private medical practices. Those who show exceptional skills in business can also see themselves in the position of CEO at a hospital.

If you are interested in healthcare MBA programs, there are a number of them offered at George Washington University and other business schools across the country. These programs will help you to better understand all sides of the healthcare system.

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