It is a known fact that healing is an art, medicine is a profession, and health care is a business. Recently, health care is an economic activity that is to be professionally managed is a new realization; in most of the countries. In response to the need for better healthcare management, more and more dentists in India started enrolling themselves in business schools.
MBA in healthcare programs are broader, providing a diverse base of financial knowledge, although students interested in health administration can choose specialties and tailor their coursework to best prepare them for that field. An MBA program has a value regardless of the industry, giving an extensive overview of the business world around them. A significant difference between the degree and education of the MBA program from MHA is to offer students a broader understanding of various business practices and not exclusively sticking to the healthcare industry. For those with a specific interest in the business side of the healthcare industry, an MBA can be a great choice.
You can read more about Masters in Healthcare Administration in the next post -
You will expect to take classes in accounting, finance, public relations, marketing, and human resources, and more with this degree. What’s more, some employers regard MBAs to be more prestigious degrees. Additionally, graduating with an MBA makes it easier to transition from healthcare into industries if you find yourself in need of a change.
When determining if an MBA is right for you, it’s best to consider your long-term goals. For instance, those who plan to work in accounting or finance industries will find that an MBA degree gives them the education they need to look at crucial issues in those industries. What’s more, this degree will provide you with plenty of flexibility within your career.
During the MBA program curriculum, it includes coordinating, planning, evaluating, assessing, understanding the underlying issues of managing a healthcare industry, leadership roles, and tackle complicated situations. The program focuses on:
Marketing
Healthcare Economics
Corporate Finance
Accounting
Strategy
Management Levels, Roles, and Structuring
Investment Banking
Organization Development
Composition of Health Sector
Hospitals and Role in Healthcare
Hospital Waste Management
Health Insurance
Health Tourism
As per the current dental scenario, MBA in Healthcare/ Healthcare Management program provides positions in some of the best companies belonging to an industry/domain related to:
Medical Devices - Siemens, GE, J&J, etc.
Pharmaceuticals - Abbott, Cipla, Pfizer, Glenmark, etc.
Healthcare Consulting - E&Y, KPMG, Deloitte, McKinzie, PWC, etc.
Healthcare IT - Cognizant, Infosys, TCS, etc.
Health Insurance - ICICI Lombard, Bajaj Allianz, Star Health, etc.
Hospitals - Fortis, Apollo, Manipal, Reliance, Columbia Asia, etc.
Public Health - UNICEF, UNDP, WHO, IDA, etc.
Healthcare Start-Ups - Practo, Home-Health, Bonvive, HealthRx, Portea, Lybrate, MedPlus.
Some of the colleges and universities providing MBA/ Healthcare Management program in India are:
Indian Institute of Management, Calcutta -https://www.iimcal.ac.in/ldp/PGCHM
Indian Institute of Management, Bangalore – (not an MBA program) https://www.iimb.ac.in/eep/product/213/General-Management-Programme-for-Healthcare-Executives-GMHE
Indian Institute of Health Management Research - https://www.iihmr.org/courses
Symbiosis Institute of Health Sciences - https://www.sihspune.org/mba-hospital-and-healthcare-management.php
Goa Institute of Management - https://www.gim.ac.in/content.php?name=About-PGDM-(HCM)&id=135
Manipal Institute of Management - https://manipal.edu/som/program-list/mba-healthcare-management.html
Welingkar School - https://www.welingkar.org/programmes/full-time-programme/mumbai/pgdm-health-care-management
K.J. Somaiya Institute of Management - https://simsr.somaiya.edu/en/programme/mba-health-care
University of Delhi Faculty of Management Studies - http://fms.edu/?q=node/27
Indian School of Business - https://www.isb.edu/Advanced-Management-Programme-for-Healthcare
* Please note that all the programs are not providing an MBA; some of them are giving curriculum concerning healthcare.
For those looking for a program giving exposure to business administration with interest to working in the corporate world and not limiting themselves to the Healthcare industry, they should choose a mainstream MBA program. Because there is no specific target industry, the program will broaden your horizons.