In recent years, it has become possible to pursue a career utterly different from medicine. Typically, you would expect the industry to lack flexibility in career options, which does hold some truth. It does need doctors and nurses and the staff to manage the professionals and other departments. But, with more career paths, you may get confused with the option you should pursue. The master of public health (MPH) and master of business administration for healthcare are two options. Lacking information on them, you may ask yourself: what option would suit you best? Therefore, this article delves into answering that question for you.
• MASTER OF BUSINESS ADMINISTRATION FOR HEALTHCARE
An MBA, or Master of Business Administration, is the most popular and lucrative university degree worldwide. Without a doubt, individuals possessing MBAs earn the highest salaries, making MBA Healthcare a viable option. Looking back at 2017, the US GDP indicates a whopping 17.8% spent on healthcare. Not only does this make it one of the biggest industries, but it also shows a projected growth of 19.5% of the economy in the next few years. Since the healthcare industry demands flawless management, MBA graduates can contribute to the industry while being rewarded sufficiently with well-paid jobs.
The master of business administration program integrates a curriculum revolving around business management subjects. These include financial management, statistics, HR management, accounting, public relations, and many more. However, the program’s entirety focuses on developing the student’s skills to deal with business practices and communication within an industry. Despite the healthcare electives, the crux of the course will mainly be business and managerial topics. Countless colleges offer an MBA, but referral to healthcare MBA rankings is vital for choosing the right institute.
Nevertheless, the average MBA graduate can expect themselves to work in different departments. From marketing management to strategic project management, the options are limitless. Many graduates also work as pharmaceutical brand managers, clinical managers, and even healthcare consultancy.
• MASTER OF PUBLIC HEALTH
The Master of Public Health (MPH) program specializes in analyzing the health conditions of the population. The program incorporates subjects like biostatistics, sociology, healthcare financing,research methods, and several other topics. While the curriculum involves administrative and managerial education, it mainly caters to studying science, public policies, and research. The general idea is to equip students with the ability to gather and interpret public health data and comprehend procedures and laws. Furthermore, the degree will also help students refine their communicative and leadership skills.
MPH graduates often find jobs in government sectors, non-profit organizations, hospitals, and laboratories. These individuals also focus on researching the prevention of diseases and modifying policies to make hospital procedures efficient. They are also responsible for decreasing the health hazards faced by the working staff. Considering the diversity of this program, MPH graduates can work in different environments. However, the focus remains on analytics, data interpretation, and managerial tactics to improve society’s healthcare conditions.
• MBA VS. MPH
While both programs may seem indifferent on paper, they have distinct differences. The MBA inherently targets the management and finance subjects while the MPH is regarding a society’s public health conditions. But when considering the job market, both degrees will undoubtedly provide well-paid jobs with either qualification, especially in the healthcare industry. Although the final answer depends on your preferences, the overarching focus remains the same for both degrees. The differences lie in the emphasis, topics, and training methods.
If you wish to find a job in the management department for healthcare, then the MBA is likely to suit you best. Whether you work in a hospital or an insurance facility, this degree will open paths to different career paths. Moreover, the healthcare MBA degree enables individuals to get involved in the industry’s operations and business aspects. Not only will it give you the fundamental knowledge for business, but it will also help you climb the organization’s hierarchy ladder. Furthermore, the MBA works for numerous departments, making it possible to transition between departments to find what fits you the most. Even better, since the healthcare MBA incorporates almost the same knowledge as the average MBA, you can also consider transitioning to another industry.
While the MBA provides career versatility, the MPH provides a career path that helps influence policies and public health overall. In recent years, the healthcare industry welcomed various advanced degrees and career options. However, the master of public health is possibly amongst the faster-growing options, with a guarantee of earning a generous salary. When considering the background required for studying MPH, unlike the MBA degree, you must have some knowledge and experience in the industry. Hence, healthcare professionals, especially nurses, can benefit significantly by earning an MPH degree. Doing so will allow you to diversify your career, enabling you to take on a managerial role focusing on policies. Alas, if you have an interest in healthcare research, then an MPH is undeniably the best option for you.
• DUAL MBA MPH OPPORTUNITY
So, what if you want to possess both degrees? Well, the option certainly exists. The dual MBA MPH qualification gets designed to offer skills and knowledge on both the mentioned domains. Though it may seem unnecessary, the two degrees go hand-in-hand when it comes to healthcare degrees. The dual MBA MPH curriculum consists of various subjects similar to the ones targeted for each degree individually.
The combination of the MPH/MBA will undeniably differ from studying the standalone programs. Some noteworthy differences that demand your consideration include the completion time, required credit hours, and admission requirements. Once you have sorted out these three factors, the next step would be to look for institutions offering this option. Either way, be sure to expect an extended completion time, as well as a significant increase in the required credits. Moreover, you must also judge your capabilities before tackling the dual MPH/MBA program.
Having read the mentioned points, it is likely that you have an understanding of both programs. Thus, as you continue to weigh your options, looking at other programs is also imperative. With the availability of degrees in almost every niche and field, you may find the right degree for yourself. Even better, with the strides technology has made over the years, you can earn your degree at the leisure of your home. Finally, becoming part of the healthcare industry is financially beneficial and morally and spiritually rewarding.