Your Healthcare MBA and the Laboratory: Where Do They Come Together?

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Young health professional in a lab environment A healthcare MBA gives you all the skills and knowledge you need to pursue a career in a lab. Working in a lab, you’ll guide important research that could lead to the next great discovery in health care. This is the perfect degree for people who want to focus on the business side of health care by managing a team of doctors, nurses, and other staff so they can best serve their patients.

Here are five ways an MBA in healthcare will help you pursue a career working in a lab.

1. Stand Out in a Competitive Market

Although the number of jobs in the healthcare industry is growing, most of those new jobs are in hospitals, not labs. According to WorldWideLearn’s Guide for Healthcare Administration Majors, “Hospitals constitute just 2 percent of healthcare operations, yet they employ more than 40 percent of healthcare workers.” Other markets outside of hospitals can still be very competitive, so if you plan on working in a lab, a healthcare MBA helps you stand out from the crowd.

2. Work and Study at the Same Time

Many degree programs for obtaining a healthcare MBA offer online coursework, so you won’t have to quit your day job to get a degree. Some degree programs are tailored specifically to current practitioners looking to move up into management without having to give up their practice. To become a laboratory manager, you may have to get extra education and certification.

3. Learn to Run a Lab Like a Business

For those entrepreneurial spirits who are looking to run their own company someday, getting a healthcare MBA is a great way to start. A healthcare MBA is a degree that both healthcare professionals and business professionals can pursue. Even if you don’t have a background working in the healthcare field, you can use your knowledge of business focus when you specialize in health care.

Like with any other career, having some relevant experience in the same field outside of your degree helps you to get a job in that field, but that doesn’t mean you have to specialize in healthcare before you get an MBA. All that’s required to apply for most healthcare MBA programs is a bachelor’s degree.

4. Earn a Higher-Paying Position

An MBA is a prestigious degree that comes with its fair share of perks. Once you’ve earned an MBA, you have access to the highest-paying and most respectable jobs available in a lab. Managerial, and even executive, positions with responsibilities like balancing budgets, managing investments, creating business expansions, or overseeing multiple facilities will become more available to you once you’ve received an MBA in healthcare.

5. Keep Your Options Open

The advantage of an MBA degree over a Master of Science (MS) or Master of Healthcare Administration (MHA) is that it’s applicable to a wider range of fields. If you want to keep your options open for future entrepreneurial pursuits, an MBA is the degree of choice.

Working in healthcare requires good people skills, risk management skills, and a commitment to helping others. Combine that with business acumen, and you have everything it takes to get your healthcare MBA and work in a lab.