While some career paths may be relevant one year and seem to be obsolete the next, the one area of business that will continue to be in high demand for many years is in Healthcare Management. Advances in technology and the growing world market highly influence the ebb and flow of what is deemed a worthwhile career choice for the graduate student. But as certain as people will continue to age and require quality healthcare professionals, the demand for such managers within the private and public healthcare realm is showing no signs of slowing. One huge impact on the medical field will be the baby-boomer generation that is very large and very active, meaning more people will be requiring greater medical attention throughout the later years of their lives. With the projected increase in needs for medications, nursing care facilities, and life-extending medical procedures, each area of the medical field will rely heavily on professionals within healthcare management who are well-versed in the latest technologies and practices of management.
The Bureau of Labor Statistics shows a projected increase of 17% within the field of Medical and Health Services Managers over the next seven years – that is 10% faster than the national average for all professions. In addition to this statistic, the BLS also reports a median salary average of almost $100,000 in this field. Medical and healthcare service managers, also commonly referred to as healthcare executives, are typically responsible for the management and administration of a healthcare facility, hospital, or medical practice. The workplace environment many healthcare managers work within is an administrative office setting where physicians see patients such as hospitals and nursing homes. Although many professionals within this career path have a working knowledge of some of the technical and medical services their organizations provide, the success rate for many of them rests on the ability to lead the healthcare providers and office personnel in a professional and efficient manner. Healthcare managers do well to practice good problem solving and decision-making techniques.
While there were 333,000 employment opportunities within this field at the national level during 2014, the projected job openings each year currently sits at 14,050 across the United States. Some states report positive projects in growth as well. Texas, for example, reported 19,720 jobs available in 2014 and has revealed a 29% increase in healthcare management positions over the next few years. In today’s competitive job market, business professionals with the most comprehensive educational backgrounds will continue to have an edge over those lacking in this area. A top on-campus or Online Master’s of Business Administration with an emphasis in Healthcare Management is one of the best programs a graduate student can pursue. One of the best online MBAs with a concentration in Healthcare is offered at Drexel University’s Bennet S. Lebow College of Business in Philadelphia, Pennsylvania. This 51-credit hour hybrid program allows healthcare professionals the chance to retain their current positions while taking coursework online and create a flexible schedule with the degree’s residencies. This nationally-recognized and award-winning program can be completed in as few as 24 months using the business school’s accelerated option. This is just one program offered within the exciting career path of Healthcare Management.