You know you want to go back to school. You're at a point in your life where you're ready to boost your career, and a position as a healthcare administrator is your dream job. But what path should you choose to get you there?
Consider these three reasons why a Healthcare MBA is a better option than a Masters in Health Administration (MHA).
1. A MBA Opens Doors in Other Fields
Not sure if you'll stay in healthcare the rest of your career? Getting your MBA can pay off. A 2014 report showed that 80 percent of employers plan to hire MBA graduates.
If you're thinking about a new career path now, what's to stop you from changing your mind again in the future? With a MBA, you have more career possibilities, whereas a MHA is specific to the healthcare industry and doesn't transfer to other fields well.
Think you might go into finance, business administration, or marketing in the future? Many job openings in these fields ask that applicants have an MBA, but employers don't always care what your emphasis is in. Other areas that you can enter with an MBA include technology, investment, sales, and other managerial positions.
Still not sure if you would want to transfer jobs in the future? The least you can do is get your MBA so that you have a sense of security no matter which factors in your life begin shifting, whether its your personal preferences or your career opportunities.
2. A MBA Has a Business-Focused Curriculum
Getting your Healthcare MBA gives you an advantage when dealing with business and financial duties, since much of your training covers these areas. A MHA is more heavily focused on the healthcare system and requires fewer courses in business. That can certainly offer graduates an advantage in the healthcare field; however, if you already have years of experience in healthcare, expanding your knowledge in other areas can help you perform a wider variety of job duties more effectively.
The courses you'll take to get your Healthcare MBA will benefit you in other areas as well. The knowledge you gain will give you an advantage in communicating with business departments since you'll understand the industry jargon better. Plus, you gain a financial, public relations, and marketing background. All of these skills can benefit your healthcare team.
3. You'll Learn Critical Administration Skills
While both degrees focus on administration, a Healthcare MBA is a better choice for individuals who don't have any administration experience but have a background in healthcare. A MHA, on the other hand, focuses more on the healthcare aspect and is best for people who have experience in administration in a different field. If you strive to acquire or improve those critical administration skills through your education, rather than working in another field, the MBA is your best bet.
A Healthcare MBA degree is clearly a better choice for many students. Will you take this path on your journey to boosting your career options?
Begin your Health Services Manager Career
The George Washington Healthcare MBA degree features a convenient online format that is ideal for working professionals. Whether you are a nurse or an accountant, the balanced curriculum of the GW HCMBA track, with coursework spanning topics in finance, management, and modern healthcare, will prepare you for a career as a medical and health services manager.