Health administration refers to taking on administrative or managerial roles in the healthcare sector.
People in such positions get the chance to directly influence healthcare policies and build new and better ones according to the nation’s changing economic and healthcare requirements.
Considering the US healthcare sector, the demand for health administrators calls for a master’s in health administration to equip professionals with the required skills and abilities.
In addition, it opens more doors for you by paving the way for the most coveted jobs in health administration. Therefore, if you are considering entering the health administration sector, you must pursue a master’s in health administration. Here is why.
1. To Advance Your Career
A Bachelor’s in Health Administration will only get you so far. However, with a Master’s in Health Administration, you can unlock advanced career options and climb up the corporate ladder to hold important positions. It is the best way to achieve your professional goals.
You can start at an entry-level position and gain enough experience. However, senior positions require higher qualifications. Therefore, if you already work in health administration and aspire to hold leadership positions, you can pursue your degree as a full-time professional.
The best way to do that is to enroll in MHA online program that would equip you with the leadership, critical thinking, and strategic analysis skills required for leadership roles.
Moreover, you will learn about hospital administration, which is different from managerial roles in other organizations.
You will learn to manage hospital finances and other resources, along with strategies for critical decision-making.
On top of it, you will stay updated with the most recent healthcare data and learn how to use it to identify problems persisting in healthcare and how to solve them.
2. Higher Pay
Undoubtedly, higher qualifications at a senior position call for higher pay.
According to the Bureau of Labor Statistics (BLS), medical and health service managers make an average median income of $190,000 annually with a master’s degree and immense experience in the industry, up from $101,340 per year.
Moreover, the highest-paid health administrators work in the pharmaceutical and medicine manufacturing industry with a yearly income of $204,300.
The scientific research and development service administrators make an average of $169,240 annually. Then come the wholesale electronic agents and brokers who make $162,880 a year, followed by electro-medical, measuring, nautical, and control instrument manufacturers who make an average of $159,910 annually.
Lastly, chemical manufacturing administrators make a median income of $155,180.
However, healthcare administrators’ pay rates can differ from state to state, depending on the cost of living and other economic factors. Therefore, if you live and work in Washington, DC, you may expect an average pay of $150,040 annually.
Similarly, the state of New York pays an average of $147,000 annually to healthcare administrators. Then comes Hawaii with $133,320 per year and Massachusetts with $132,960 per year.
3. Room for Growth
An administrative position requires you to perform multiple tasks at a time. It means that you will have significant room to grow, learn and develop various skills.
An MHA degree ignites the advancement and leadership potential to prepare you for healthcare administration roles.
You will find countless opportunities for self-improvement and advancement in healthcare administration.
Moreover, some entry and mid-level managerial roles will make your path to upper healthcare management much more accessible. For example, nursing administration, planning and development, government relations, patient care services, and human resources offer immense growth potential with job security.
It further affirms that healthcare delivery and administration do not only occur in large hospitals.
With today’s technology and evolved systems, many new administrative positions with lucrative career growth are prevalent in doctor’s clinics, medical centers, practitioners’ offices, outpatient centers, biotechnology hubs, and research labs.
4. Join a Recession-Proof Industry
One of the primary reasons for pursuing an MHA degree is that healthcare will always be in demand, no matter the economic conditions.
The job market volatility will not hit you like in other industries. For example, during the global Covid-19 pandemic, healthcare workers and administrative staff were more in demand. In contrast, the crisis hit people in different industries more severely.
On top of that, you can expect the job outlook for medical and health service managers to grow by 28% until 2031, which is much faster than the US national average.
You can expect an average of 56,600 new openings for healthcare managerial positions until 2031. Most of the demand will stem from those retiring or leaving their jobs, leaving room for fresh graduates.
With greater demand for healthcare workers comes the need for managers to monitor and organize the workflow, healthcare staff, and administrative procedures.
An MHA degree paves the path for improving care conditions and uplifting the community’s healthcare system.
5. Be Prepared for Executive Leadership Roles
You will cover a holistic curriculum during your MHA, including hospital finances, project management, law and ethics, social responsibility, and marketing. These courses will equip you with a significant knowledge of healthcare areas and hospital administration tasks.
You will also learn to manage hospital inventories and patient care plans, monitor, collaborate with interdisciplinary healthcare professionals, and manage teams. Such skills are essential to let your employer know you have what it takes to take on executive leadership roles.
In addition, you can bring significant change to the healthcare structure and system by identifying lagging areas and critical problems.
Since you will be in charge of all healthcare operations in a medical facility, you will have a bird’s eye view of everything. It will let you implement the required changes by recognizing the needs of the healthcare center.
You can implement development and care programs for those who need them.
One of the primary reasons to pursue an online MHA degree is to advance your career. An online program makes studying while continuing your current role and unlocking higher positions easier.
With higher positions comes higher pay and job growth. A master’s degree will enable you to enter many evolved positions within the healthcare industry.
Furthermore, your job will be secure despite economic conditions. It is because healthcare will always be in demand, no matter the country’s crisis. Healthcare workers are typically on the front lines during a national emergency. Such a requirement for healthcare workers calls for managers and administrators to get things for the system to run smoothly.