MBA in Healthcare Management: Salary, Scope, Fees, Benefits, Career, Jobs, Syllabus, and Eligibility!

• Sakal India Foundation
• January 15, 2022
• Post Views: 1,581

MBA in Healthcare Management: What is MBA in Healthcare Management?

MBA in Healthcare Management is the specialization in MBA, which has gained immense popularity in the recent past. It is a 2-year course that concentrates on making professionals for the healthcare industry. Aspirants who have a Bachelor’s Degree in any discipline and got a score of 50%, all from a nationally acclaimed university, can apply for the course.

With India looking for improvement in healthcare facilities at par with other nations, management of hospitals and healthcare facilities has become prominent in this sector. A spectrum of jobs and career opportunities has grown up for non-medical professionals.

We have covered all the major pointers of Healthcare Management in this blog like salary, scope, fees, benefits, career, jobs, syllabus, eligibility and many more.

MBA in Healthcare Management: Course Highlights

MBA in Healthcare Management program equips one with the knowledge to build a steady career in the healthcare sector. The degree equips you with advanced knowledge and operations of the Healthcare sector. That is bound to give you an edge. An MBA in healthcare can also help you find a footing in the IT aspects of healthcare, like data security.

MBA in Healthcare Management: Eligibility Criteria

Main eligibility criteria for MBA Healthcare Management are:

• The main eligibility criteria for MBA in Healthcare Management are graduation or equivalent from a recognized university.

• The students must meet the minimum aggregate requirement of 50% for general category students and 45% for reserved category students.

• Many institutes offer this course and prefer students who have a degree in BSc, MBBS, BPT, BPharm, BE/BTech, BDS, etc.

MBA in Healthcare Management: Admission Process

The admission process is different for institutes all across the country. Students should have a cut-off percentile of different entrance exams like CAT, MAT, GMAT, CMAT, XAT, etc.

The written exams were followed by rounds of Group Discussions and Personal Interviews. Students are filtered out based on their personality and basic technical knowledge.

MBA in Healthcare Management: Salary in India

An MBA degree can aid in securing a well-paying job in top MNCs and pharma companies. The average salary in healthcare management ranges between ₹ 5-12 lakh per annum.

The high salary bracket is also taken into consideration as these roles may require working at odd hours, considering this involves public health. The average salary of the CEO or CFO of any hospital can be as high as ₹ 30 lakh or ₹ 36 lakh per annum.

MBA in Healthcare Management: Entrance Exam

Passing an entrance exam is one of the vital criteria for admission to an MBA in Healthcare Management. The students have to clear common MBA entrance exams. Have a look at the list of top MBA entrance exams for Healthcare Management.

Why MBA in Healthcare Management?

The MBA Healthcare Management system is vital for growing the business related to the health service sector to improve internal and external cooperative systems. Why study Healthcare Management:

Here are a few top reasons to choose MBA Healthcare Management:

• MBA Healthcare Management program can give a unique job opportunity and multidimensional job in different healthcare services.
• After MBA Healthcare Management Course, candidates can get many job opportunities from well-known companies, and salaries for beginners range from ₹ 2 lakh to ₹ 10 lakh per annum.
• MBA Healthcare Management can provide you with some good job offers like Hospital Management, Hospital Administration, Medical Practice Manager, Hospital CEO & CFO, Pharmaceutical Production Manager etc.

Required Skills for MBA in Healthcare Management

Candidates with good knowledge of hospital administration are a good fit for this program. Those with leadership skills and an interest in management techniques can pursue this course.

Let us have a look at some of the vital skills required for MBA Healthcare Management Course:

• Team Building Skills: A hospital has various departments, and each of them has its own set of employees with different challenges and requirements. That is why you need your team to work in coordination to support each other.
• Analytical Skills: This program requires one to execute projects, participate in industry events and interact with industry leaders. All of these requirements involve analytical skills and problem-solving aptitude.
• Interpersonal Skills: Communication through verbal & non-verbal ways is vital for many sectors, and this is of paramount importance for the healthcare sector. A candidate interested in this field should know how to interact calmly and cordially with patients and their families.
• Capacity to Work Under Pressure: A hospital administration would witness several crisis moments. The Covid-19 pandemic has been a testing time for any hospital. So this quality is of utmost importance for an MBA Healthcare aspirant.

MBA in Healthcare Management: Syllabus & Subjects

The MBA in Healthcare Management offers good insight and learning into the healthcare industry. The syllabus includes planning, management, policies, regulations, information management, operations and administration. Have a look at the main subjects taught in MBA in Healthcare Management.

Career Opportunities After MBA in Healthcare Management

An MBA in healthcare management makes you an ideal candidate for top jobs in hospitals and the healthcare sector. That also provides job opportunities on a consultant basis that allows one a great deal of flexibility and chance to establish connections.

Some of the job positions that require candidates with an MBA in healthcare are:

• Hospital Administrator
• Hospital CEO & CFO
• Healthcare Associate
• Hospital Operations Executive
• Medical Practice Manager

Scope of MBA in Healthcare Management

Candidates who aspire to take up senior executive positions in the healthcare sector must pursue an MBA in Healthcare Management. The curriculums in this course deal with healthcare specialization topics, business management practices and managerial studies. This program empowers candidates with the required skills to climb the corporate ladder.

Some of the key highlights are:

• The initial salary for professionals with MBA in healthcare management is around ₹ 5 lakhs per annum.
• Placement is guaranteed in top pharma companies and hospital groups.
• High demand for expert healthcare managers.
• Opportunity for outstanding career growth.

Scope of MBA Healthcare Management in Government Sector

This MBA qualification makes you an ideal candidate to work in both public and private sector hospitals. The state health department appoints management professionals in various top roles. Apart from positions in the ministry, these candidates are sought after for running government hospitals. The government program needs these people to run healthcare programs efficiently.

Top 10 Recruiters for MBA Healthcare Management Graduates in India

Pharmaceutical companies and hospital chains frequently lookout for skilled professionals who can efficiently run healthcare institutions. These Healthcare Management candidates are hired for managerial positions and executive roles.

Let us have a look at some of the top companies that hire Healthcare management graduates.

• Cipla
• Star Health
• Fortis
• Bharat Biotech
• Apollo
• KPMG
• Unicef
• Practo
• Glenmark
• Pfizer

Top Recruiting Industries

This degree mainly focused on the healthcare sector. There has been a rise in hiring by healthcare organizations. Every hospital needs at least a half-dozen healthcare management professionals at top levels. Each of these positions is crucial to the management, so companies are always on the lookout for suitable candidates.

MBA in Healthcare Management: Related FAQs

Q1: Why Choose Healthcare Management as Specialization in MBA?

Covid-19 Pandemic created a massive demand for a better healthcare system. With the growing healthcare sector, several new hospitals are coming up in various parts of the country.

However, running a healthcare center comes with the challenge of running it efficiently as one is dealing with the lives of patients. There is no scope for an error as it is crucial to ensure that the system is free of snags. That is why the healthcare industry needs professionals with a specialized MBA degree.

Q2: Is an MBA in Healthcare Management Easy?

This Healthcare Management program requires candidates to learn certain skills. It can be demanding but enriching at the same time. Exams are held every semester, and so the students need constant preparation. It’s a 2-year course, but the syllabus is vast. With proper guidance and dedication, the syllabus can be completed on time.

Q3: Is an MBA in Healthcare Management Worth?

MBA Healthcare Management degree is one of the most in-demand courses now. The reason is the exponential growth of this industry post-pandemic. Graduates and professionals looking for a change in profession or aiming for programs that can put them in the bracket of executives should explore this healthcare management program.

Q4: Who Should Do MBA In Healthcare Management?

Graduates and Professionals who want to make a career in the healthcare industry must consider this management course. Those who have studied Hospital Administration as part of their Bachelor degrees can apply for this course. Professionals who have taken part in healthcare projects and want to excel in this sector should take up this program.

Summary

The healthcare sector is booming, and so are the job opportunities associated with this sector. Senior Executives are needed to run the healthcare system smoothly, but there is a lack of skilled professionals in this sector.

It brings the spotlight on MBA in healthcare management and its crucial role in churning out candidates who fit these roles well. The timing is thus perfect for graduates and other professionals to explore this program.

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