Why Should You Get An MBA In Healthcare
An MBA is among the most popular academic credentials in the corporate sector today. This degree enhances your employability, bolsters your networking skills, and prepares you for all future leadership roles you may encounter. Getting a master’s degree in business administration can be one of the best academic decisions you’ve ever made, considering that 97% of employers in 2021 were ready to recruit MBA graduates.
However, this degree isn’t just valuable to business experts; even nurses and healthcare professionals benefit from pursuing an MBA in today’s medical settings. This article explains why you should get your MBA in healthcare to climb the ladder of success easily within your workplace.
Complementing a healthcare education with some business expertise can make you a successful healthcare professional. Many RNs today are breaking into the commercial aspect of the healthcare profession. Statistics indicate that getting an MBA can almost double your current salary. So, RNs shouldn’t give up a chance to seek an online MBA degree option. In this article, you will learn a lot about the benefits of digitally pursuing an MBA in healthcare. These advantages should motivate you to put yourself through school again – but remotely this time – and boost your academic qualification.
- Fewer eligibility requirements
Many healthcare professionals are demotivated by the requirements of normal MBA programs. These programs often demand RNs with MSN degrees and good GMAT scores. However, online programs can give you a bit of leeway and have fewer eligibility requirements. For instance, you may pursue MBA programs with healthcare concentration remotely from reputable universities. These programs will let you apply with minimum eligibility requirements, and you can have the following perks:
- No GMAT required
- They accept a 2.5 GPA
- Applying with a bachelor’s
- Get a degree in just 12 months
- Tuition fee not exceeding $13,000
- An in-demand career
As the BLS has estimated, health services management is growing by 28% this decade as a career. A nurse can easily qualify for future jobs in this field with an MBA degree. Reports from 2022 indicate that the United States may need 13 million additional RNs by 2030. How do you think you can qualify for these future jobs? By constantly bolstering your education, you can prepare for such in-demand careers. Nurses with MBA degrees are the future of healthcare administration.
- Better global opportunities
An MBA degree expands your options to find employment overseas. It’s because an MBA isn’t just a locally valued degree, but it is also a universally respected qualification. So, pursuing an MBA gives you a competitive advantage over other clinical workers who are contending with you for a certain job.
- Accessing leadership roles
After climbing the ladder of success in nursing, you ultimately become eligible for leadership roles. It is the point where you can make executive decisions and perform administrative duties. Earning an MBA helps you reach this level soon so you can bring some real changes in the workplace.
- Earn more money
It’s a no-brainer that getting an MBA in healthcare helps nurses make more money. It’s the question of “exactly how much you can earn” that has experts disputing with each other. We can gather from BLS articles that health services managers make over $100,000 a year on average. However, an MBA-equipped nurse’s pay also relies on the workplace’s location. But the takeaway from the above-linked BLS article is that an MBA degree in healthcare leads to a better salary.
- Strengthening your resume
Obtaining an MBA makes you more employable than non-MBA candidates, and not just in healthcare. An MBA-equipped nurse can work in a variety of non-clinical settings. A survey shows that over 90% of the recruiters in the tech sector in 2021 were looking forward to hiring MBA graduates. With your resume strengthened by an MBA degree, you can find administrative roles as well as data analytics-related jobs. And how does an MBA make your resume more appealing to employers? An MBA helps you get some essential soft skills along with tech skills sought after by employers today. Nurses with developed interpersonal skills can have successful careers in whichever field they like.
- Better tech skills
The lack of tech skills can prevent nurses from excelling in their careers. However, earning an MBA with a specialization in healthcare informatics will hone your tech skills and make you capable of navigating today’s tech-dependant world. The field of medicine is filled with tech wonders such as EHRs or electronic health records, and telehealth seems to become more prevalent with time. These changes demand RNs improve their tech skills and become more familiar with these tools.
- Developing diverse skills
Besides tech skills, pursuing an MBA in healthcare will help you develop diverse skills, e.g., communication skills, networking, public dealing, critical thinking, conflict resolution, and other abilities necessary for a modern-day healthcare practitioner. These soft skills can help you manage medical teams and improve patient outcomes.
- A rewarding career
One of the most amazing aspects of being a healthcare professional is making meaningful contributions to society by reducing people’s suffering. AN MBA in healthcare will make you more capable of serving humanity and bringing significant changes to the health sector. An MBA helps you introduce positive organizational transformations in healthcare settings and ensure all medical operations are as effective as possible. That’s how your degree leads to improved patient outcomes. With increased efficiency, the medical staff becomes more productive. Preventing burnout becomes easier with your new managerial skills, and medical mistakes can also be minimized.
Conclusion
Why should RNs and other clinical healthcare workers consider earning an MBA with a healthcare concentration and branching out their career options? This MBA in healthcare will help you hone several skill sets, strengthen your resume, and help you access leadership roles in the healthcare sector. You’ll also be able to score jobs that pay better. Therefore, consider leveraging distancing learning opportunities to quickly update your credentials in a more flexible and cost-effective way. Healthcare professionals are in demand, and adding business skills to your kitty can make you a sought-after resource in a highly competitive job market.
