Should You Get a Healthcare MBA or an MHA?

MBA or MHA, that is the question. Both healthcare MBAs and Masters in Healthcare Administration offer their students the potential to grow as leaders in the healthcare industry. For many, that makes it a difficult choice as to which to pursue. That’s why today we’re going to discuss the differences between healthcare MBAs and MHAs. We’ll cover what each entails, and what are the expected outcomes for each such as salary and job opportunities. Along the way, we’ll help you decide which is right for you. But first, let’s take a look at exactly what an MBA and MHA are.

What is an MBA in Healthcare?

An MBA in healthcare is an MBA with a healthcare concentration. More precisely, it’s a graduate business degree that prepares you with everything you need to oversee operations and strategy in healthcare environments such as hospitals and clinics. The curriculum will typically cover finance and management principles mixed with healthcare-specific management fundamentals.

This degree typically comes in two forms: Healthcare management and healthcare administration. These are easily confused and overlap in nature. In fact, many organizations use the terms interchangeably. That’s why we’re going to cover them both here.

• An MBA in healthcare administration focuses on the handling of the day-to-day staffing and human resource demands of healthcare organizations as well as departmental operations. Those seeking this degree are looking to specialize specifically in this role.
• Healthcare management on the other hand focuses on the organization as a whole. That means logistics, staffing, operations, and almost anything else you can think of. Pursuing this degree is for those looking to oversee operations on a larger scale.

What is a Master in Healthcare Administration? (MHA)

Now that we’ve covered MBAs in healthcare, it’s time to answer “what is an MHA?” A Masters in Healthcare Administration is a degree that teaches students how to advance their careers and fill leadership roles in the healthcare industry. The overall purpose is to equip graduates to with the skills to plan, direct and coordinate a variety of healthcare organizations. These skills include a deep understanding of the healthcare industry and problem-solving and innovation as they relate to healthcare.

The requirements for a masters in health care administration can vary depending on the school. However, the general requirements include:

• A bachelor’s degree with a cumulative GPA of 3.0 or higher
• A resume
• Official transcripts
• Any letters of recommendation

In terms of time, it takes an average of 2 years to earn this degree.

Why Pursue an MBA in Healthcare?

An MBA in healthcare can open many doors and provide students with the opportunity to grow in their careers. This comes in many forms which we will outline here. Earning an MBA in healthcare can provide:

• A better understanding of the healthcare industry’s accreditation, regulatory licensure, and compliance policies.
• Understanding of the economic supply and demand as it affects the healthcare industry.
• A diversity of perspectives on healthcare management decisions.
• An understanding of technology in the industry.
• The ability to identify and understand the major challenges facing the industry, and how to develop strategies to address them.
• Networking opportunities with other healthcare professionals.

Why Get a Masters in Healthcare Administration?

Similar to an MBA, an MHA degree can open a lot of doors in the healthcare industry to higher-paying leadership positions. Here are some other reasons to consider an MHA:

• A competitive edge when applying for hotly contested positions.
• An MHA provides leadership skills specific to the healthcare industry.
• Potential to specialize in specific healthcare organizations.

Career Opportunities and Job Outlook

Beyond these immediate benefits, an MBA in healthcare can prepare the student for a career in healthcare administration. According to the U.S. Bureau of Labor Statistics, the demand for healthcare administrators will grow by at least 20% by 2026 as the U.S. population continue to grow and age. As such, an MBA in healthcare will increase your chances of securing one of these high-demand positions.

When a student graduates from an MBA program, it’s only natural to ask what to do after an MBA in healthcare. Answering this question is difficult as there are so many options available to MBA healthcare graduates that it can be hard to choose. These include positions such as:

• Healthcare policy analyst
• Strategic project management
• Healthcare Consultant