The modern healthcare industry has realized the need for business management professionals to run its various facilities. MBAs with specialization in healthcare management are much sought after for their leadership and business skills. Jobs for management graduates are on offer not only in hospitals but also in rehabilitation and long-term-care facilities, insurance and pharmaceutical companies, and other organizations.
The US Bureau of Labor and Statistics reported in its 2014 handbook that healthcare management jobs are expected to grow 23 percent each year with a median annual salary of over $89,000.
We take a look at some of the best business schools that offer MBA programs with a healthcare focus, including dual degrees, and other schools that contribute professionals to the industry.
Here’s a list of the best business schools for healthcare specialization across the world. Keep in mind that many of these are 2 year programs, and the tuition fee list below is annual.
The MBA program at the UCLA Anderson School of Management, University of California, Los Angeles, allows students to specialize in healthcare and another specific concentration through elective courses in the second year of the program. The healthcare management courses include “the business of healthcare from a global perspective,” health law, and quantitative analysis for health systems. The annual, full-time cost of attendance is about $55,000 (please check the school websites for the exact cost/tuition).
The Columbia Business School, Columbia University, New York, runs an MBA in Health and Pharmaceutical Management, which is a flexible program that enables students to choose the courses that they want. The courses bring together economics, finance, management, marketing, operations, and strategy in the curriculum. The annual tuition for the full-time program amounts to about $61,000.
The MBA in Healthcare program at the Darden School of Business, University of Virginia, imparts expertise in the various facets of the biotech, health service, medical device and pharmaceutical sectors to students. Healthcare-related banking, consulting, entrepreneurship, and venture capital activities are also covered. Students may also attend the MBA/Master of Public Health program with faculty from Darden, the Department of Public Health Sciences, and the School of Medicine. The annual, full-time cost of attendance is about $53,000.
The Foster School of Business and the School of Public Health of the University of Washington, Seattle, offers a “Concurrent MBA and Master of Health Administration” program. The two-year, full-time program is designed for early-career professionals. The annual, full-time cost of attendance is nearly $41,000.
The Fuqua School of Business, Duke University, North Carolina, prepares MBA students for the healthcare sector with its Health Sector Management program. The program has a strong focus on major healthcare issues such as financing options, organizational relationships, patient-provider relationships, and service delivery. The b-school offers healthcare management across its range of programs including the Daytime MBA Program, Cross Continent MBA Program, Weekend Program, and Global Executive Program. The annual, full-time tuition comes to about $55,000.
The Goizueta School of Business, Emory University, Atlanta, Georgia, conducts a “Concurrent MBA and Master of Public Health Course” along with the Rollins School of Public Health. Students attend the MPH degree in Atlanta’s Clifton Corridor, where Emory’s medical facilities are located. The annual, full-time cost of attendance for the program, which can be completed in five semesters, is $46,000.
The Haas School of Business, University of California, along with the University of Berkeley School of Public Health, offers an MBA in Health Management Program that equips students with the knowledge and skills to come with usable solutions to improve the healthcare industry. A number of courses in healthcare management are offered at Haas, including biopharmaceuticals and health finance. Students attend courses in both schools and complete a three-month internship program in a health organizations. The annual, full-time cost of attendance is about $54,000.
The MBA with the Healthcare Initiatives at the Harvard Business School, Harvard University, Massachusetts, touches a wide range of functions and areas of the healthcare industry including research, education, and entrepreneurship to improve the practice of healthcare. HBS also promotes leadership development for the healthcare industry through the MBA program. The annual, full-time tuition is about $56,000.
The Johnson School of Business, Cornell University, New York, runs a two-year “Joint MBA and Master of Health Administration” program. Accounting, economics, finance, leadership, management, marketing, operations, and strategy are the main focus areas. Students have the flexibility to shape their curriculum to master specialized areas such as consulting, entrepreneurship, and finance for the healthcare industry. The annual, full-time cost of attendance is about $56,000.
Sharpening skills to handle the services or products of the healthcare industry is the Kellogg School of Management, Northwestern University, Illinois. The MBA program offers students keen on joining the healthcare industry its Health Enterprise Management major. Kellogg’s Healthcare Club helps students increase their knowledge of business management concepts and skills and enables them to find key positions in the healthcare industry. The cost of the full-time tuition is about $59,000.
The University of North Carolina’s Kenan-Flagler School of Business offers a joint degree program, Master’s in Healthcare Administration and MBA, in association with the Gillings School of Global Public Health. Students can build a network of contacts in the biotech industry in North Carolina’s Research Triangle through the school’s Healthcare Industry Club. The annual, full-time tuition comes to about $51,000.
The McCombs School of Business, University of Texas, offers an MBA program with a healthcare concentration that prepares students for roles in the healthcare, life science, and biotechnology industries. They acquire business skills and also a deep understanding of technology and policy issues that affect their industry. Students can engage with Austin’s biotech industry through the Austin Technology Incubator, American College of Healthcare Executives, and other initiatives. The annual, full-time tuition is about $49,000.
The Olin School of Business, along with the George Warren Brown School of Social Work, Washington University, Missouri, offers the dual MBA/Master of Public Health program. Students participate in a summer internship program after the first year of their MBA and a practicum after the first year of their MPH. Students are able to pursue careers in hospitals, healthcare consultancies, pharmaceutical companies, and policy think-tanks. The program takes about 30 months to complete, and the annual, full-time cost of attendance works out to about $50,000.
The Owen Graduate School of Management, Vanderbilt University, in Tennessee’s Nashville, known as the US healthcare industry’s capital city, offers a “Healthcare MBA” that focuses on hands-on training—such as watching a surgery at close quarters and designing a solution for a local healthcare unit. Vanderbilt’s joint MD/MBA program seeks to develop quality physician-managers. Students spend their first three years at the Vanderbilt University School of Medicine and the next two years at Owen, thus completing the joint degree in five years, one year’s saving compared with the time taken to complete the two degrees separately. The annual, full-time cost of attendance is nearly $80,000.
The Stephen M. Ross School of Business, University of Michigan, allows its students to integrate their business management curriculum with their interest in healthcare management. The curriculum, elective courses, and experiential activities are so designed that they develop students with leadership capabilities. The annual cost of attendance of the full-time program is about $57,000.
Healthcare managers and administrators who are the best in their field are what Massachusetts Institute of Technology’s Sloan School of Business produces through its MBA with Certification in Healthcare. Sloan’s specialized program readies students for the pharmaceutical, biomedical, consulting, and management roles in services delivery systems, research, and entrepreneurship. The annual, full-time cost of attendance is nearly $61,000.
The School of Management at Yale University, Connecticut, has an “Executive MBA—Leadership in Healthcare” program that follows the same curriculum as the school’s full-time MBA program. As part of the 22-month program, students spend two months “in residence” and every other Friday and Saturday on the school campus. The annual, full-time cost of attendance of the course works out to about $57,000.
Healthcare management is part of the Concurrent MBA and Master of Public Administration at Leonard M. Stern School of Business, New York University. During the three-year course, students spend the first year at Stern and the second and third years at the Wagner School of Public Service for public administration, public health, business, and non-profit management. The cost of attendance of the annual, full-time program is about $57,000.
The Tepper School of Business and the H. John Heinz III School of Public Policy and Management, Carnegie Mellon University, Pennsylvania, jointly offer the “Concurrent MBA and MS in Healthcare Policy Management” program. For the five-semester program, which begins in August, students pay tuition for two semesters at Tepper in their first year, for two semesters at Heinz in their second year, and for one semester at Tepper. The annual, full-time tuition amounts to about $57,000.
At the Tuck College of Business, Dartmouth College, New Hampshire, the students of the graduate healthcare management degree program form a small, closely knit group, who get individual attention from their professors. Elective courses include biotech, management of healthcare organizations, investing in healthcare, and the economics of the healthcare industry. The cost of attendance of the annual, full-time program is about $59,000.
Whether it is for healthcare industry, pharmaceutical, biotech, government, or insurance careers, the MBA in Healthcare Management at the Wharton School of Business, University of Pennsylvania, is an invaluable asset. Wharton MBAs with healthcare specialization progress to executive roles in a range of organizations and sectors. The annual, full-time cost of attendance is about $60,000.
Among other schools that offer MBA programs with specialization in healthcare are:
Other top business schools in USA contributing professionals to the healthcare industry include:
Schools in Europe that contribute professionals to the healthcare industry include:
More here on Careers in Healthcare Management
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– Masters Degree in Healthcare
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