MBA in Healthcare – New Opportunity for Medical Students

MBA in Healthcare

The healthcare sector is an important and fast-growing industry today. Due to the dire need of healthcare facilities and products, the industry is expected to grow three times to Rs. 8.6 trillion by 2022 and that is just in India. As of now the healthcare industry is already witnessing a huge growth of 16-17% and is prominently contributing to the country’s GDP. It is important to understand that there are numerous products and services that the health care sector provides, which requires equal knowledge about the workings of a company and medical subjects to thrive. An MBA in Healthcare is an important degree for healthcare companies and businesses to run.

What is MBA in Healthcare?

MBA in Healthcare is another branch under the wide umbrella of the Masters in Business Administration degree. This like the other branches aims to prepare students with leadership qualities, managerial skills, and business tactics, but for companies in the health care sector. This degree helps to have an overall knowledge of running a business and the medical background to understand the details of the products and services. The healthcare sector is involved with various products and services, which includes:

  • Manufacturing of drugs
  • Manufacturing of medical equipment
  • Healthcare facilities 

The students applying for this degree will become a part of these areas of the sector. This degree does not require a Bachelor’s Degree in the medical field, however, most universities prefer students who show an inclination towards the medical field. With an aggregate score that is specified by the colleges in any under-graduation degree, the student is eligible to apply for an MBA in Healthcare. The course lasts for two years. There are many options available for a candidate pursuing MBA in Healthcare. Usually, these students are prepared to work in companies from the health care sector. They mostly take up the administrative or financial or marketing aspects of the company. They can become a part of the management department of a hospital or such institutions. There are various roles apart from being a doctor or a nurse that needs to be filled and an MBA in Healthcare aims to fill those roles.

Universities Offering MBA in Healthcare Abroad

Columbia Business School

Based in New York, USA, The Columbia University offers a program that is called MBA in Healthcare and Pharmaceutical Management. This program teaches subjects of a varied range, from public policies regarding healthcare services to the medical equipment and IT services related to the industry. With good professors on board, they also offer the opportunity of interacting with experienced healthcare experts. The program covers an extensive range of courses or subjects that are taught by industry experts and stakeholders and cover areas such as:

  • Suitable strategy and competition in pharmaceuticals and biotechnology
  • The healthcare industry in the 21st century
  • healthcare investment and deal-making, etc.

Average tuition fee per year: $ 46,000

University of California

The Haas School of Business and the University of California- Berkeley School of Public Health have partnered to offer a concurrent degree program featuring an MBA in Health Management and Innovation along with an MPH in Health Policy and Management.  Students can complete the curriculum in only five semesters. The program is a great opportunity to learn subjects like:

  • Healthcare technology policy
  • Population health economics
  • Health care organizational management
  • Mass communications in public health and more.

Apart from this, the students have an option to study another program titled as Executive Master in Health Administration at the University of California. This program has existed in the university since 1980 and is now also available online too. However, the university requires that the student have work experience of five years before being admitted for the course.

Average tuition fee per year: $ 28,000

University of Washington

At the University of Washington, Saint Louis, Missouri, the students are offered to get enrol in a program of Masters of Healthcare Administration. The program offers good exposure by allowing summer internships to the enrolled students. The Olin Business School at Washington University features a dual and an extensive MBA/MPH program in Public Healthcare management that meets the need for professionals to bridge the fields of business, policy, and medicine. This way, the students learn to deal with firsthand challenges of administration in the healthcare sector. The University of Washington also arranges for renowned researchers of the field as well as healthcare executives to interact with the students

Average tuition fee per year: $ 50,000

Duke University

The Duke MBA has a Certificate in Health Industry Management (HSM) program to specialize in the field of healthcare administration. The program provides interdisciplinary studies and very well employs the long-standing leadership of Duke University in business, teaching, research and clinical or healthcare. The HSM program consists of courses like:

  • Healthcare markets
  • Biotechnology and pharmaceutical strategy
  • Medical device strategy
  • Healthcare provider strategy and operations

Through their strong industry understanding, broad skills and professional network, HSM gives the right opportunity for graduates to become leaders in the global health sector.

Average tuition fee per year: $ 52,000

University of Virginia

The University claims to prepare students to lead the sector of Biotechnology, Health Services, Medical Devices and Pharmaceuticals, in the global healthcare industry. University of Virginia’s MBA in Healthcare Management program at Darden School of Business pledges to prepare the youth and young minds to think about trending issues in an effective, creative and ethical way. The students are allowed to work and learn about finance, leadership, strategy, operations and management in the field of Healthcare. The courses are structured to familiarize the students with the challenges in the medical industry and to urge them to come up with innovative solutions.

Average tuition fee per year: $ 15,000 to $ 27,000

Cornell University

Based in Ithaca, New York, in USA, the Cornell University is one the most famous and renowned university of USA that offers executive MBA/MS in Healthcare and Leadership program at its SC Johnson College of Business. Here, students receive the opportunity to cover dual degree programs and to cover both an MBA and an MS degree in healthcare leadership. Cornell’s MBA in healthcare program provides a solid foundation in all the functional areas of business such as accounting, finance, business economics, marketing, operations management, strategy, leadership and etc and also establishes a solid foundation in healthcare courses such as biostatistics, Health data analytics, healthcare leadership, health informatics, etc.

Average tuition fee per year: $ 30,000

 University of North Carolina 

The University of North Carolina’s Kenan-Flagler Business School, based in Chapel Hill of North Carolina is known for its  top-of-the-line MBA healthcare program. The program was created to meet the demand of successful business leaders in the field of healthcare with a good creative, problem-solving and leadership skills. Their MBA in healthcare program is solely intended for healthcare professionals with experience in public and private health care organizations and the medical environment. This enhanced program will further expand opportunities for business and strategic leadership.

Average tuition fee per year: $ 28,000

Rice University

Based in Houston in the state of Texas of USA, the Jones Graduate School of Business at Rice University is known for its MBA program in healthcare specialisation.  This program provides students with an understanding of business practices along with healthcare sector deep understanding and vision across the different interlocked sectors of the healthcare industry. The program covers many subjects and courses like:

  • health insurance in the US
  • innovation and entrepreneurship
  • mindfulness and performance in organizations
  • healthcare strategy

The program is open to full-time, professional and executive MBA students.

Average tuition fee per year: $ 37,000

Yale University

The Yale School of Management is a one stop destination for healthcare executives from around the world. The School of Management at Yale University is known for its best and inclusive MBA programs. Among them, MBA specialisation in Healthcare is one program specially crafted for working and determined health professionals who strive to become the future leaders and innovators in the healthcare sector. In the first year of the program, students complete an embedded core program. The second year is devoted to advanced courses in business, management and healthcare. At Yale University, the students can complete this top healthcare MBA program in just 20-22 months.

Average tuition fee per year: $ 42,000

Harvard University

Based in Cambridge, Massachusetts, Harvard University’s Harvard Business School is a brand in itself when it comes to their popular and leading MBA programs, all across the world. Their MBA program with Healthcare initiative and specialisation that consistently focuses on the business of healthcare and healthcare industry. The Health Care Initiative program was established in 2005 to provide a pathway for healthcare research, educational programs and entrepreneurial projects in all sectors of the global healthcare industry. Apathy from a plethora of courses and subjects that are covered in their MBA Healthcare program, the students are also allowed to learn elective course such as healthcare innovation, US healthcare strategy and management, healthcare economics, transforming healthcare delivery and more. 

Average tuition fee per year: $ 47,000

Universities Offering MBA in Healthcare in India

After knowing 10 best universities from around the world that are offering exclusive and best MBA in Healthcare programs to international students, let us now explore universities that are offering MBA in Healthcare programs in India. 

University/ College/ Institute City/State Estimated/ Average Tuition Fee per year
The Prestige Institute of Management and Research Indore Rs. 1,20,000
Amity University Noida  Rs. 4,00,000
M.P. Birla Institute of Management Bangalore  Rs. 5,30,000
Lovely Professional University Jalandhar Rs. 3,00,000
Manav Rachna International Institute of Research and Studies Faridabad  Rs. 3,00,000
University of Hyderabad Telangana  Rs. 1,00,000
Sri Ramachandra Institute of Higher Education and Research Chennai  Rs. 2,00,000
AIMS Institute Bangalore  Rs. 9,00,000
DY Patil University Navi Mumbai Rs. 4,30,000
IIHMR UNIVERSITY Jaipur Rs. 5,80,000

On this note, we end our blog on MBA in Healthcare. If you also want to fulfil your dreams, just like others, reach out to experts at Leverage Edu and with their guidance, counselling and helping hands, you will be able to conquer want you to desire for. Book your free session with us right now.

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