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Without a doubt, the healthcare industry involves incredible quantities of dough. Plus, unless we find a miracle cure for all diseases and put a stop to aging altogether, human beings will always need medical care. We haven’t even mentioned the intrinsic reward that comes with serving people in need. It makes sense, then, that many MBA programs are offering healthcare management as a concentration.

As healthcare is a continually developing industry, opportunities for management are always changing. Although healthcare management encompasses professionals in a wide variety of roles and organizations, it generally involves healthcare delivery and development of public policies related to healthcare.

Healthcare managers work for insurance companies, physician groups, hospitals, and governmental organizations at multiple levels ranging from front-line supervisory to executive.

They may come from healthcare-related backgrounds and have served as doctors and nurses, have developed related skills in other fields such as finance that they transfer to the healthcare arena, or have obtained academic backgrounds in healthcare administration, public administration, or business administration. The higher ups in the healthcare management ladder almost always have graduate level degrees in the above-mentioned management fields.

While many individuals choose to obtain dual degrees such as MD/MBA, taking up an MBA with a major in healthcare management is a less costly and time-consuming option for those who do not wish to directly administer patient care.

Healthcare management MBA programs are normally collaborations between business schools and other departments or colleges within the university. They require core courses in both the normal MBA and the healthcare management concentration. Courses within healthcare management may span social policy, finance, law, marketing, healthcare for the elderly, healthcare systems, managing quality of care, global health sector, and more! Many programs join academics with hands-on opportunities through internships, smoothing out the transition process for students seeking career change.

Although there are many Healthcare Management MBA’s out there, here are some of the highlights:

The Wharton MBA: Health Care Management Major

According to their website, “the Health Care Management major builds on the established strength of the management core to provide expertise in the unique elements and issues of the health care industry. The manager’s role in health care organizations continues to grow in importance, as the rapidly changing health care industry becomes the nation’s second largest employer. A Wharton health care major is unusually well-qualified to respond to the many critical problems now faced by hospitals, government agencies, group practices, pharmaceutical and biotechnology firms, insurance and managed care organizations, and consulting firms.

Health Care majors draw on a rich variety of elective courses across the university, including courses in the behavioral and applied social sciences, biomedical sciences, and social policy. They also benefit from an interdisciplinary faculty based in the business, medical, and nursing schools, together with adjunct faculty from area health and science organizations. The program is closely associated with the Leonard Davis Institute of Health Economics (LDI), founded in 1967 to facilitate the university’s activities and programs of research and education in health services financing and delivery. LDI provides a geographic center and supporting staff, with faculty drawn from schools and departments throughout the university.”

Students interested in Wharton’s Health Care Management major need to indicate their choice at the time of application. The major requires five credit units, including two required courses: the Health Services System and Health Care Field Application Project.

Learn more about Wharton’s Health Care Management MBA: http://www.wharton.upenn.edu/mbaresource/curriculum/hcmg/

The NUS MBA Specialization in Healthcare Management

NUS’ well-regarded and established Business School and Division of Graduate Medical Studies have come together to offer this unique option. The program requires 4 core healthcare management modules but allows for 2 to 4 more electives within the specialization.

Like Wharton’s program, the NUS MBA Specialization in Healthcare Management requires that you indicate your interest when you apply.

Learn more about The NUS MBA Specialization in Healthcare Management:
http://bschool.nus.edu.sg/TheNUSMBA/ProspectiveStudents/TheNUSMBA/ProgrammeInformation/Specialisations/HealthcareManagement/tabid/2267/default.aspx

The BU Health Sector MBA

According to their website, “the health sector is undergoing transformational growth and change, offering compelling opportunities and challenges for emerging managers and leaders. With the Health Sector Management Program (HSM), founded in 1972, we prepare students for leadership roles throughout the health industry, including bio-technology, pharmaceuticals, medical devices, health information technology, health systems management, consulting, and public policy.”

BU’s Health Sector MBA program allows students to obtain a Masters in Business Administration (MBA) as well as a certificate in health sector management. The program combines core business courses, electives in health sector management, and a summer internship. BU boasts a highly active alumni community to help you begin or further develop your career in healthcare management.

Learn more about the BU Health Sector MBA: http://management.bu.edu/gpo/fulltime/hsm/