Key Takeaways:
- The demand for healthcare administrators is expected to grow by 29% from 2023 to 2033, with 61,400 job openings per year.
- An MHA degree prepares healthcare professionals for executive roles by teaching management, finance, and leadership skills.
- University of North Carolina at Chapel Hill and Johns Hopkins University are top schools for an MHA degree.
- Graduates with an MHA degree can unlock career opportunities in executive positions, such as CEO, COO, and CFO.
Did you know that the projected job growth for medical and health services managers is 29%? For the 2023-2033 period, there’s a forecasted 61,400 openings every year, on average. Indeed, healthcare leaders are in high demand.
There are many reasons for the growing demand for healthcare administrators. First, the healthcare industry has more than 18 million employees. Every year, more than 1.8 million new employees, on average, are added. More employees means more administrators are necessary to manage them.
Second, the demand for healthcare services is on the rise, too. The growing and aging population means more people seeking healthcare services. More healthcare administrators to manage an ever-expanding healthcare system are needed.
Third, the ever-changing and complicated regulatory environment isn’t for the untrained. More healthcare administrators who can navigate it are a must.
Fourth, the technological advances in the healthcare industry demand effective leadership. More tech-savvy healthcare administrators are needed.
Do you want to take advantage of it? If yes, you must earn an MHA degree for career advancement. When combined with your extensive experience, it’s a competitive credential.
The MHA degree is a specialized graduate degree offered by many universities. Candidates prepare for leadership roles in the healthcare industry. Graduates work in the public and private sectors.
Indeed, you can unlock executive roles with an MHA degree. Your expertise, authority, and credibility in healthcare administration are your key.
Related:
- From Clinical Roles to Administration: Transitioning with an MHA Degree
- How an MHA Program Prepares You for a Career in Health Administration
- Best MHA Programs
- Most Affordable Online MHA Programs for Working Adults
- Top Online MHA Programs and Degrees
- Top Careers for Master’s in Health Administration
What Is an MHA Degree?
The MHA degree is a professional credential for aspiring healthcare administrators. Candidates learn advanced management principles and practices relevant to the healthcare industry. In essence, you will learn the whats, whys, and how of the business side of healthcare services.
For this reason, the core courses in the best MHA degree programs include:
- Management and leadership
- Strategic planning
- Finance and financial management
- Human resource management
- Marketing
- Economics
- Healthcare policy and law
- Health information systems
- Ethics in healthcare
- Quality improvement in healthcare
Most MHA degree programs also have an internship component.
But an MHA degree for career advancement isn’t for everybody either. You must be passionate about healthcare leadership and persistent in your advocacy. Earning an MHA degree also means being disciplined in your studies.
With that said, these are the ideal candidates for MHA degree programs:
- Clinicians and clinical professionals who want to transition into leadership positions
- Healthcare supervisors and managers who want to become executives
- Recent graduates with bachelor’s degrees in healthcare-related fields who want to fast-track their careers
Keep in mind that MHA degree programs usually have selective admission criteria.
The Importance of Healthcare Leadership
Every American and immigrant in the United States needs healthcare services. Healthcare administrators are crucial in the delivery of these healthcare services. Here are the specific ways in which healthcare leadership with MHA degrees makes it possible.
Performance of executive roles and responsibilities
Healthcare executives ensure that healthcare organizations achieve their goals and objectives. Keep in mind that these are on the organizational level, including:
- Strategic growth
- Operational efficiency
- Financial sustainability
- Regulatory compliance
- Staff retention, satisfaction, and growth
- Patient outcomes improvement and satisfaction
- Community outreach
As a healthcare executive, you play a vital role in keeping your organization on its feet and running.
The increasing complexity of the modern healthcare system
The healthcare system is an ever-evolving organism driven by several factors. Changes in healthcare laws, patient expectations, and technologies are the main drivers. With every change comes more complex aspects, such as the use of AI.
This is where expert healthcare executives come into the picture. The best healthcare executives can keep up with the increasing complexity of the healthcare industry. Indeed, you must be an effective change manager and innovator.
Positive impact on patient care outcomes and quality of healthcare services
Healthcare executives may not be involved in direct patient care. However, your decisions have a direct impact on patient care outcomes and satisfaction. You also have a direct hand in the overall quality of healthcare services and their delivery.
Wasn’t it Uncle Ben who said, “With great power comes great responsibility?” That’s exactly why effective healthcare leadership is of crucial importance to our society.
How an MHA Degree Prepares You for Executive Roles
Pursuing an MHA degree for career advancement prepares you for healthcare executive roles in the following manner.
Develop your executive-level leadership and management skills.
Yes, you have extensive work experience in a leadership capacity. But you must learn executive-level leadership and management skills. Otherwise, you’ll be a fish out of water in executive jobs. This is where your MHA education comes in.
You will learn MHA competencies in finance, human resource management, and operations management, among others. These are vital in your future work.
Develop your strategic planning and decision-making skills.
MHA programs for healthcare executives focus on the long-term aspects of healthcare administration. You will then learn strategic planning skills, such as data analysis and forecasting.
If you’re a current clinician, the mindset shift from short-term outcomes to long-term direction can come as a shock. Your MHA training will lessen the culture shock.
Gain healthcare administration-specific knowledge.
While you may already be a healthcare professional, you’re likely to have limited knowledge about healthcare administration. Knowledge is the foundation of competence, and thus, it’s crucial to gain it through formal training. Again, your MHA education proves valuable.
Expand your network.
Your network is an excellent source for mentorship opportunities, job recommendations, and friendships. Get these career benefits of an MHA degree and more.
Career Advancement Opportunities with an MHA Degree
Earning an MHA for healthcare management career advancement pays off as soon as you’re promoted. With higher income, you can enjoy returns on your investment sooner.
Indeed, the best of the Master of Health Administration benefits is the opportunity to become one of these top-ranking leaders.
- Chief Executive Officer
- Chief Operating Officer
- Chief Financial Officer
Of course, extensive work experience, impressive work performance, and the trust of higher-ups are also important in getting these positions.
The wide range of workplaces that your MHA degree can take you is also part of its appeal. You can work in public and private organizations. Hospitals, insurance companies, and government agencies are popular.
Top 5 MHA Programs for Aspiring Healthcare Executives
These are the best MHA programs for leadership positions or for advancing your career with an MHA degree.
University of North Carolina at Chapel Hill (The Gillings School of Global Public Health)
UNC emphasizes the five domains of healthcare administration. Candidates learn vital competencies through rigorous courses. There’s a strong emphasis on effective leadership in public health and other healthcare settings.
Johns Hopkins University (JHU – The Bloomberg School of Public Health)
JHU’s comprehensive MHA program emphasizes healthcare policy, management, and finance, along with global health. The one-year coursework complements the 11-month paid residency.
University of Michigan (School of Public Health)
UMich is renowned for its challenging MHSA program that features a 60-credit curriculum and 12-week internship. Candidates access extensive resources and networking opportunities, too.
University of Southern California (USC – The Sol Price School of Public Policy)
USC’s robust MHA program provides strong connections with the healthcare industry to the advantage of its candidates. The integrated curriculum ensures that students gain valuable insights into every aspect of healthcare administration.
Cornell University (Sloan Program in Health Administration)
Cornell’s MHA program combines business principles with healthcare education.
Conclusion
Earn an MHA degree, executive opportunities will come your way. The MHA degree boosts your authority and credibility as an effective healthcare executive. Indeed, it’s the first credential prospective employers look for in applicants.
But keep in mind that an MHA degree is only effective when it’s leveraged to its maximum potential. This is where your personal passion and competence come in.
What are you waiting for? Earn an MHA degree for career advancement and make your mark in the healthcare industry. Plus, you will love the higher income potential. Medical and health services managers earn $110,680 in median annual wages.