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Online MBA in Healthcare Management: 2024 Guide

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Jagpreet

27 June, 2024

Online MBA in Healthcare Management: 2024 Guide

Introduction

After COVID-19 the demand for healthcare management is higher than ever. This sector has shown a revolutionary shift from minimal to maximum growth in the demand for leading managers with the right skills to manage, plan, and problem-solve the healthcare sector. Do you know that when we say healthcare management we mean more than just a file or document management? Well, an online MBA programme in healthcare management would teach you, upskill you and train you to manage any top healthcare organisation and promote it towards consistency and betterment.

Healthcare management is not just about managing a hospital, but more than that. As an online MBA student in healthcare management, you will learn how the medical industry functions, covering areas such as its supply chain, promotion, and leadership tactics. If you love to take care of people, skilled in management, problem-solving, and communication then the online MBA in healthcare management is the right course for you. Let us guide you to the world of healthcare and management.

We will reveal here some of the top-secret skills and top online MBA healthcare colleges that might have been gate-keeping by others till now. Don’t forget to apply for your seat ASAP!

What is Healthcare Management?

According to Faqiri, Moheb. (2019)Healthcare management is exactly what the name implies. It’s the overall management of a healthcare facility, such as a clinic or hospital. A healthcare manager is in charge of ensuring a healthcare facility is running as it should in terms of budget, the goals of the facility’s practitioners, and the needs of the community.” Sounds complicated? Well, let us break it down for you. Imagine a hospital as a big, busy kitchen. In this kitchen, there are chefs (doctors and nurses) who cook delicious meals (provide medical care) for customers (patients). Now, a healthcare manager is like the head chef or the kitchen manager. Their job is to make sure everything in the kitchen runs smoothly. This is exactly what you would be expected to handle:

  • Budgeting: You would keep an eye on the outflow and inflow of the money, making sure there are enough ingredients (medical supplies) without overspending.

  • Team Goals: You would also ensure that all the chefs know the menu and are working towards the same goal – serving the best food (providing the best care).

  • Community Needs: Last but not least you would listen to what the customers want. Remember, customer (community) feedback plays an important role in this sector.

Role and Benefits of an Online MBA in Healthcare

Now that we have covered the basic definitions and examples of health management it is time to look at the roles and benefits that an online MBA in healthcare holds. Why should you consider an online MBA in healthcare? What are the prominent roles of an online MBA in healthcare? Here are the top 5 roles and benefits of an online MBA in healthcare:

  • Flexible Study Schedules: With an online MBA in healthcare, you can study at your own pace, there are no fixed classes. It fits right into your personalised schedule.

  • Enhanced Family Time: The Online MBA would help you to balance your academic journey with family responsibilities.

  • Work Schedule Compatibility: An online MBA in healthcare means you can continue working in your current job, learning new skills, and avoiding the clash between work and study.

  • Reduced Costs: One of the greatest benefits of an online MBA is flexibility in the fee structure. The online MBA in healthcare is cheaper than the regular one and light on your pocket yet impactful to transition your career.

  • Diverse Career Opportunities: Once you complete an online MBA in healthcare you can apply for roles that were once beyond your capacity. These roles, include health services manager, healthcare marketing manager, and pharmaceutical project manager, leveraging the broad business and management skills acquired.

Are You Eligible? Are You the Chosen One

Here are some common eligibility criteria for an online MBA in healthcare. Please note that the eligibility can vary based on each college’s requirements.

  • You must have completed a Bachelor’s degree from a recognised university or an equivalent qualification recognized by UGC.
  • You should have a minimum aggregate of 40% marks in your Bachelor’s degree.

  • You should be proficient in English, as courses are typically conducted in English.

  • You should be equipped with basic computer skills and access to a stable internet connection for online learning.

  • You should provide transcripts or certificates as proof of your educational qualifications during the application process.

Online MBA in Healthcare: Course Fees

When we decide to start a lifetime journey of change, success and betterment we often pass through many limitations. One of the greatest limitations in academics today is the high fees of full-time programmes. This is where an online MBA in healthcare management stands tall as a saviour. Through an online MBA, you can pursue the programme within your budget and pay every month rather than one-time big payments.

The fees for online MBA in healthcare management range from INR 52,570 to INR 1,95,000. DY Patil Online offers the programme at about INR 1,69,200 for Indian civilians, while Delhi University’s School of Open Learning (DU SOL) charges around INR 52,570 per year. These fees show that online learning is affordable, catering to different financial situations and accommodating individuals with specific needs, such as international students or those in defence services. This flexibility makes studying for an Online MBA in Healthcare Management practical for advancing your career while managing personal commitments effectively.

Most of the top online/distance universities provide:

  • Scholarships

  • Fee waivers

  • EMI options

You can now pick based on what suits your budget and work towards your goal!

Skills Required for an Online MBA in Healthcare

Here is a list of some of the top skills that you need and that you would be learning in the online MBA healthcare management world. These skills are rarely occupied easily, because they require experience, training, and a mentor, which you can get through an online MBA in healthcare management. The list is no more a secret. As soon as you learn these skills you can apply for leadership roles in healthcare sectors. This is your golden gate of opportunities.

Communication Financial Management
Leadership Decision-making
Teamwork Managerial Economics
Marketing Management Relationship Building
Research Time Management
Health Administration Budgeting
Critical Thinking Project Management
Quality Assurance Interpersonal Skills
Analytical Skills Organisational Management
Principles of Management Quality Management

Syllabus & Curriculum for an Online MBA in Healthcare

Are you curious to know the syllabus and curriculum of an online MBA in healthcare management? Worry not; we’ve got you covered.

Here is a syllabus for 2 years of Online/distance work-integrated MBA healthcare. Please note that the syllabus might be different for each college depending on their requirement for the coursework.

Semester 1 Semester 2
Financial and Management Accounting Financial Management
Managerial Economics Epidemic & Disaster Management
Quantitative Methods Introduction to Health Systems & Environmental Health
Marketing Service Quality Excellence in Healthcare

 

Semester 3 Semester 4
Biostatistics & Epidemiology Project
Healthcare Management Elective
Hospital Operations Management Elective
Strategic Management of Healthcare Organizations Elective

Electives

  • Decision Analysis

  • Leadership & Managing Change

  • Project Management

Top Entrance Exams for an Online MBA in Healthcare

Many institutions/colleges may not require you to pass an MBA entrance test however it is always beneficial to pass at least one entrance exam to get more chances for admission. A few universities may require you to submit a letter of recommendation or statement of purpose. These are some of the popular entrance exams that you can appear for to get more chances for admission to in online MBA in healthcare management.

CAT MAT
XAT NMAT
JEE Main COMEDK
BITSAT WBJEE
JEE Advanced GATE
LPU-NEST MAH-CET
AP ICET TS ICET
OJEE KMAT
GMAT ATMA

This table provides a varied list of entrance exams. Some universities may require you to pass the university-level entrance test.

Top Colleges for an Online MBA in Healthcare

Here is the secret list of top online MBA colleges in Healthcare. Please note that the fee may be updated or varied based on the college’s facilities, requirements, resources and more.

Institute Fees
Dr. D. Y. Patil Vidyapeeth, Pune INR 1,69,200
Parul University INR 22,500 (per semester)
Delhi University’s School of Open Learning (DU SOL)  INR 52,570
Online Manipal INR 2,80,000
Jain University Online INR 1,80,000

Career Prospects

The online MBA in healthcare comes with a promise of a lifetime opportunity and look out for you as your warrior. The online MBA in healthcare would provide you with different aspects of skills, experience, projects and chances to intern with top recruiters around the globe. One of the most important benefits of an online MBA in healthcare is that you can work in an MNC as soon as you complete the coursework. You can pursue roles such as Healthcare Administrator, Clinical Research Manager, Nursing Home Administrator, Clinical Coordinator, and Medical Information Manager.

These roles would give you the chance to explore various healthcare settings, from hospitals to pharmaceutical companies, enhancing your chances of securing a position in top organisations. With demand increasing across the healthcare sector, including prestigious firms like Cipla, Fortis, and Apollo, your MBA opens doors to rewarding careers with increased salaries and opportunities for advancement.

Also Read: Career Prospects after Healthcare Management

Job Opportunities and Salary after an Online MBA in Healthcare

After completing an online MBA in healthcare management, you can explore various job roles with competitive salaries. You can bag high INR 11L to 56L annual salaries for positions like Hospital CEO. If you bag the job of a health information manager you can earn as high as 8.2L to 38L annually. Positions such as Business Analysts and Associates offer salaries ranging from INR 4L to 7L annually. Senior roles like Financial Analysts and Operations Managers can earn between INR 7L to 10L per year.

These roles span across different sectors, providing ample opportunities to apply your skills and excel in the dynamic field of healthcare management. The salary depends on your experience, projects, job role, college credibility, and more. One of the most important notes in this is that it is always better to get involved in a project, do an internship, or work part-time along with your studies in a similar sector or after your studies, whenever suits your schedule. This extra experience can get your resume highlighted in front of the top MNCs and recruiters around the globe.

The table below shows the job opportunities along with the salary range that hospitals/organisations offer. The salary might differ based on your experience:

Job Role Salary Range
Business Analyst INR 4 – 7 LPA
Financial Analyst INR 7 – 10 LPA
Healthcare Administrator INR 1 – 12.5 LPA
Clinical Research Manager INR 3 – 21 LPA
Nursing Home Administrator INR 0.2 – 24 LPA
Claims Manager INR 1.7 – 7.5 LPA
Health Information Manager  INR 8.2 – 38 LPA
Pharmaceutical Project Manager INR 4 – 31.7 LPA
Hospital CEO INR 11 – 56 LPA
Hospital CFO INR 8.1 – 97.8 LPA

Logging Out

The demand for an online MBA in healthcare has increased due to the reality check after COVID-19, where we all witnessed a revolutionary shift of people from ordinary towards healthcare sectors. This shift is evidence of the need for professionals in the field of healthcare management. An online MBA in healthcare management is not just about bigger checks and better organisations, it is a leadership responsibility that reflects the ability to manage a critical sector worldwide. If you are someone who has the right skills and the eligibility for an online MBA in healthcare then welcome to the realm of healthcare, discoveries and excitement. This is the ultimate chance to get the best of your skills. All the best!

FAQ’s

Q1. Which MBA is best for healthcare?

An MBA in Healthcare Management is widely regarded as the best choice for those aspiring to enter the healthcare industry as managers or administrators.

Q2. Can I do an MBA in Hospital Management online?

Yes, many universities offer MBA programmes in Hospital Management online, providing flexibility for working professionals to pursue their studies.

Q3. Is an MBA in healthcare worth it?

Yes, an MBA in healthcare offers valuable skills and knowledge that are highly sought after in the healthcare industry, making it a worthwhile investment for career advancement and growth.

The 6% is for the definition and objective of Healthcare Management, which I have cited in APA 7th edition for the reference above.


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