MBA Programs for Healthcare Management

A healthcare management MBA is a graduate-level degree that builds crucial leadership, financial, and marketing skills for chief financial officers, administrative directors, and other healthcare leaders.

While general MBA programs teach similar concepts, such as ethical leadership and data-driven decision-making, an MBA in healthcare management targets specific skills for administrative positions in hospitals, clinics, and other facilities. This degree also touches on healthcare compliance and policy.

In contrast to a master's degree in healthcare administration (MHA), an MBA combines the critical content of an MHA with the business leadership aspect of an MBA. As a result, students can receive the benefits of both degrees.

The Bureau of Labor Statistics (BLS) projects the healthcare industry to open as many as 1.8 million new jobs annually from 2022-2032, paving the way for plentiful opportunities for healthcare leaders. Explore this guide to learn what an MBA in healthcare management entails as you consider your future educational paths.

Why Get an MBA in Healthcare Management?

What to Expect From a Healthcare Management MBA Program

Healthcare management MBAs prepare learners to become leaders of healthcare teams and organizations. Generally, these programs teach advanced financial, ethical, and leadership practices relevant to the healthcare industry, like preventing healthcare fraud and accounting for healthcare organizations.

An MBA in healthcare management usually requires 36-45 credits and takes 1-2 years to complete. In some programs, an enrollee must complete a capstone course to apply what they've learned in simulated healthcare experiences.

Although costs vary among schools, a healthcare management MBA costs about $46,000 on average. Many programs accept transfer credits from accredited institutions to decrease a student's time and financial commitment.

Admissions Process

Generally, an MBA in healthcare management applicant must submit postsecondary transcripts, letters of recommendation, a personal statement, and a resume. Schools typically require each applicant to have a bachelor's degree, although some may prefer candidates with bachelor's degrees in healthcare-related subjects.

The minimum undergraduate GPA needed for acceptance into a healthcare management MBA program usually falls around 3.0. Although not required by all schools, GMAT or GRE scores could improve an applicant's chance of admission, especially with a low GPA.

After initially shortlisting applicants, some business schools schedule interviews with promising candidates before making final decisions.

Popular Healthcare Management MBA Courses

Each school offers a unique curriculum for its healthcare management MBA. However, many apply a core curriculum focusing on financial and operational management and compliance in healthcare.

Additionally, students can often choose healthcare or business-focused electives to round out their degrees. Some schools also require learners to complete capstone projects to integrate what they've learned into real-world practice.

How Much Do MBA in Healthcare Management Programs Cost?

On average, a healthcare management MBA costs about $46,000 for 36-45 credits. However, a school's prestige, public vs. private status, and residency policies can influence tuition rates significantly. For instance, private schools generally charge higher tuition rates than public schools. Tuition is also usually higher for out-of-state learners compared to in-state students.

Some schools provide a separate online tuition rate, allowing in-state and out-of-state distance learners to pay the same cost.

Healthcare management MBA students should fill out the Free Application for Federal Student Aid to determine their federal financial aid eligibility for loans and grants. Additionally, schools usually offer their own aid opportunities, like scholarships and fellowships.

Should You Get Your Degree Online?

The Association to Advance Collegiate Schools of Business reports that over 47,000 full-time and part-time MBA students enrolled in online MBA programs for the 2020-2021 academic year. Online MBA programs offer scheduling flexibility for working professionals while providing the same rigorous education as an in-person program.

Students interested in pursuing an MBA in healthcare management should consider whether they prefer self-study or instructor-led courses. Online learning requires motivation and time management skills and may be challenging for students who thrive with peer and instructor support.

However, many modern online healthcare management MBA programs have networking opportunities, internships, and career support services to help students navigate their career paths.

MBA in Healthcare Management Programs

We have compiled a list of institutions that offer this degree program. Use the table below to compare student population size and graduation rate.

Common Questions About MBAs in Healthcare Management

Is an MBA in healthcare management worth it?

A healthcare management MBA can be worth it for learners seeking leadership roles in healthcare organizations, including physician's offices and hospitals. This degree can lead to a broad selection of careers, including health services manager, healthcare finance manager, and nursing director.

What is the average salary for an MBA in healthcare management in the U.S.?

According to Oct. 2023 Payscale data, the average salary for an MBA in healthcare management is $84,000. Potential careers for graduates with healthcare management MBAs, like director of operations or executive director, earn an average annual salary of more than $115,000.

What is an MBA in healthcare management?

A healthcare management MBA prepares students to pursue leadership roles in healthcare organizations or departments. These programs teach marketing, financial management, ethical leadership, and compliance issues relevant to the healthcare industry.

Which MBA is best for healthcare?

Most leadership roles in healthcare require an MBA in healthcare management or healthcare administration. Healthcare administration suits students interested in directing staffing and departments, while healthcare management prepares students for broader control of operations, finances, and compliance.