There’s an increasing demand for healthcare services but the sector is facing employment shortages. Not only do we need more nursing and medical professionals, but healthcare administrators are also much sought after.
While a bachelor’s degree may be sufficient for some entry-level roles, the standard is usually a master’s degree in health administration. It allows you to pursue leadership positions so you can make a lasting impact on the field.
What does a healthcare administrator do and why is this field growing?
Healthcare administrators are the people who oversee the day-to-day operations of hospitals and other health facilities. Their duties include: creating schedules for employees, managing finances and budgets, ensuring compliance with laws and regulations, and improving the quality and efficiency of healthcare services.
Every healthcare facility needs to be managed by competent administrators. This is crucial to providing a good patient experience and also ensures the success of the facility as a whole. Although the majority of people may not know, healthcare administrators are just as important as nurses, physicians, and other medical staff.
According to the Bureau of Labor Statistics, the employment of medical and health services managers is expected to grow 28% from 2021 to 2031. This is largely because of the growing population of aging adults in the United States. Since they require more health services, many facilities need to employ more health workers.
6 benefits of getting an advanced degree like a master of health administration
Healthcare administrators must be passionate about healthcare. They need some useful skills such as a good understanding of patient care, business administration, operations, quality assurance, data analysis, budgeting, etc. They also need excellent communication, teamwork, planning, and problem-solving skills.
A master of health administration (MHA) is a graduate degree that equips students with the skills required for leadership and administrative roles in healthcare. With such a degree, you can organize, direct and coordinate operations in any variety of health and social care settings. Some benefits of an advanced degree include
1. Develop advanced competencies in problem-solving, strategic thinking, and healthcare finance and business administration
An MHA can prepare you for healthcare roles that require strategic and critical thinking skills. It also teaches how to manage finances and how to handle the business functions of any healthcare facility. You’ll help to ensure positive patient outcomes, improve efficiency, and maintain a positive work environment.
2. Gain more insight into the healthcare industry and lawmaking
The healthcare industry can benefit from those who can identify and analyze the challenges in the system as well as develop strategic plans to help combat these problems. An MHA helps to understand the American healthcare system and the laws and regulations that healthcare organizations adhere to. You can also learn to advocate for changes in healthcare policies.
3. Gain a competitive edge and improve your employment prospects
A master’s in health administration can help to develop advanced skills that are necessary for navigating the world of healthcare. It will make you more attractive to prospective employers when compared to other applicants who may only have bachelor’s degrees. An MHA helps to qualify for healthcare administration positions.
4. Have the opportunity to specialize
An MHA prepares graduates for management, administrative, leadership, or executive roles in healthcare. It also gives you the opportunity to be a generalist or a specialist. For example, an online master of health administration offers four concentrations – healthcare leadership, healthcare informatics and analytics, senior services, and population health management.
5. Position yourself for leadership positions in healthcare
With the valuable skills gained in an advanced degree, you’ll be ready to occupy leadership positions in healthcare management. You will also be able to handle the daily responsibilities of your job. After some years of experience, you can get a promotion or a better offer from another facility. Either way, such a degree can guarantee job stability and satisfaction.
6. Earn a better salary. MHA graduates can potentially earn above $100,000 per annum
A master’s degree in healthcare administration can increase your earning potential in the field. According to the Bureau of Labor Statistics, the median wage for medical and health services managers in May 2021 was $101,340. But this may be higher or lower depending on the work setting or the kind of employer you work for.
What type of jobs can you get with a master of health administration?
The main prerequisite for a master’s in health administration is a bachelor’s degree in nursing, business administration, public health administration, etc. A graduate degree can help you become an effective healthcare leader.
Some of the careers you can pursue include: nurse manager, hospital director, nursing home director, clinic manager, healthcare recruiter, director of patient safety, healthcare consultant, administrative service manager, etc.
