What is an MBA in Healthcare Management? Best For Whom | Industry Value | Course Duration & Syllabus| Eligibility | Entrance Exams | Career Prospect | FAQs

One of the many things that the Covid-19 crisis has taught us is the need for efficient healthcare workers: they are doctors, nurses, midwives, helpers, people managing medical waste, laboratory technicians, etc. An MBA in Healthcare management makes you eligible for the management of these healthcare workers.

Any candidate with a completed graduation degree from any discipline, and a strong interest in working in the field of healthcare, and managing a part of it, can opt for this course. 

This 2-year, post-graduate MBA degree enlightens you about everything that is related to and included in healthcare; how the operations in pharmaceutical companies and hospitals are managed and the strategies used within the organizations. The MBA program offers case studies and a variety of projects, that are included in the syllabus for a better understanding and knowledge of the healthcare world. 

An MBA degree offers many other specializations apart from healthcare management, and most of them are covered in our other blogs on MBA programs. These include blogs on MBA programs with specialization in Management Consulting, Operational Management, Human Resources, Project Management, and many more.

What does an MBA in Healthcare Management incorporate?

This point plainly means the inclusions that are in the MBA program with a specialization in Healthcare Management.

As stated earlier, an MBA in Information Technology enlightens you about the efficient and strategic management of the operations that are carried out in pharmaceutical companies or hospitals. The program focuses on the inclusion of case studies, field visits, workshops, and many other extra activities that go hand in hand with the syllabus to bring you the best knowledge on the specialization.

To begin with, this program is everything that is related to healthcare and management combined. It has combined topics from the world of management and healthcare. Most of the topics included in the syllabus offered by many universities are Strategic Management in Health care, Hospital Accounting and Finance, Healthcare Programme Management, Introduction to Health Systems, Health Insurance, Patient Care and Management, Managing Quality in Healthcare, and many other such subjects. The titles of the subject themselves indicate how the MBA program is a unique combination of healthcare and management together. 

An MBA in Healthcare Management is best for whom?

MBA programs are often sought-after after graduation by students who are on a path to take their career in the direction of business and administration. The variety of specializations offered in the MBA programs is proof that students can opt for one of their choice based on their field of preference and interest. An MBA in Healthcare Management is mostly in demand for students who prefer to work in the field of healthcare and have their interest lying in management.  

Apart from students, people who are already working in the management of a pharmaceutical company or a hospital and are looking for a higher degree, or an MBA degree that helps them move upwards, then an MBA in healthcare management is the right choice as it offers the knowledge required to move upwards in the industry, along with the handsome salary package you have been working to achieve.

To get into an MBA program, one needs to have completed graduation with 50-55% aggregate marks and scored the percentile accepted in most of the colleges offering MBA programs.

How do the aspirants of an MBA in Healthcare Management hold value in the industry?

In the recent Covid-19 crisis we were able to witness the importance of an efficient healthcare system and healthcare workers all around the world. They were high in demand everywhere, and they were made available through systematized management in the healthcare industry. Without well-planned management, it would’ve all been a mess.

Aspirants of an MBA in healthcare management can look forward to being a part of such management of the healthcare system of a hospital, clinic, or where ever they aim to work. They are also offered handsome salary packages due to their qualification and are highly in demand as there is a need for highly coherent managers for the smooth functioning of the service. 

What is the Duration of an MBA in Healthcare Management?

Any MBA program lasts for an average of two years. 

An MBA executive program is usually a one-year program. A part-time MBA lasts for two-three years depending if it is an MBA online or offline. It also depends on the university from which the MBA program is taken up.

Before selecting a particular university going through its brochure is mandatory. Although most MBA programs extend up to two years only, it is best to confirm with the university of your choice. 

What is the Syllabus of the MBA in Healthcare Management?

Master of Business administration with a specialization in Healthcare Management is a combined degree and its scope stretches from business to healthcare, hence the syllabus consists of everything that comes under both fields, how they are interconnected and what one will be the takeouts from the course and how they will be applied in the industry.

The syllabus given below is a common list of subjects, semester-wise, included in the curriculum. This is definitely subject to change from university to university.

SYLLABUS

Semester one

Managerial Economics
Research Methodology
Accounting for Managers
Management Concepts & Organisational Behaviour
Business Environment and Law

Semester two

Operations Research and Management
Financial Management
Strategic Management
Human Resources Management
Marketing Management

Semester three

Hospital Operations Management
Hospital Architecture, Planning, and Maintenance
Patient Care Management
Healthcare Environment & Management
Health care Laws, Ethics and Medical Terminology

Semester four

Public Health System & Outreach Programmes
Hospital Facilities Management
Total Quality Management
Hospital Information System
Project work

Again, please refer to the university brochure to confirm the subjects and syllabus of the MBA degree.

What is the level of an MBA in Healthcare Management?

Master in Business Administration in Healthcare Management is a postgraduate level degree. It can be pursued only after the aspiring candidate has 50-55% aggregate marks in the discipline one has completed their graduation.

What are the fees of an MBA in Healthcare Management?

Are you going to take up an MBA online? Or are you going to take up a part-time MBA? Or are you going to go for an offline regular MBA program?

You might want to ask these questions to yourself before we move on to the average fees. Because even though the fees vary from college to college, they also depend on the status of your degree, that is, whether it is online, part-time, or offline, and the number of semesters or years the program is stretched into.

The average fees of an MBA in Healthcare Management can range from INR 40,000 to INR 10 lakh per annum.

What is the Eligibility to opt for an MBA in Healthcare Management?

  • It is mandatory that the candidate must be graduated from a recognized University, from any degree, with an aggregate of 50-55 percent marks. 
  • It is also necessary for any candidate to sit through any one of the entrance exams required for an MBA (CAT, MAT, CMAT, NMAT, etc) that is accepted by the university of choice.
  • The candidate should score the cut-off percentile demanded by the university so as to be selected by the university for further admission process.
  • And if a candidate is a working professional, and is planning to take up the MBA executive course which is for working professionals, then they need to have a minimum of two years of experience at the executive or managerial level.

(Even though this is the basic criteria, it is subject to change from university to university)

What is the Eligibility for the MBA entrance exams?

  1. CAT:  

A minimum of 50 percent in graduation is required. This exam is accepted across all Indian Institutes of Management and is held in November.

  1. MAT: 

Graduation from any discipline is required. This exam is accepted in all AIMA-affiliated management institutes and is held in September, December, February, and May.

  1. SNAP: 

A minimum of 50 percent in graduation from any degree is required. This exam is accepted at Symbiosis International University and is held in December.

  1. IBSAT: 

A minimum of 50 percent in graduation is required. This exam is accepted in ICFAI b-schools and is held in December. 

  1. NMAT: 

A minimum of 50 percent in graduation is required. This exam is accepted in NMIMS and is held in December.

  1. XAT:

A minimum of 50 percent in graduation is required. This exam is accepted in XLRI and is held in January.

  1. TISS:

Graduation from any discipline is required. This exam is accepted by the Tata Institute of Social Sciences and is held in January.

  1. ATMA: 

A minimum of 50 percent in graduation is required. This exam is accepted by the Association of Indian Management Studies and is held in February.

  1. CMAT:

A minimum of 50 percent in graduation is required. This exam is accepted in AICTE-approved Universities and is held in February.

What are the Entrance Exams for an MBA?

There are three types of entrance exams: National, Institute, and state-level exams. Each type of exam is further divided below for better understanding and selection.

  • National level MBA entrance exams:

These exams are accepted in top MBA colleges.

  1. CAT (Date of exam: 27th November 2022)

Full form: Common Admission Test

Accepted in Indian Institutes of Management (IIMs), Management Development Institute (MDI), Information Management Technology (IMT), Faculty of Management Studies, Delhi (FMS), Indian Institutes of Technology (IITs), S. P. Jain Institute of Management and Research (SPJIMR), International Management Institute (IMI)

  1. CMAT (Date of exam: 26th February 2023)

Full form: Common Management Admission Test.

Accepted in: Welingkar Institute of Management (We School), N L Dalmia, Institute for Financial Management and Research (IFMR), Birla Institute of Management Technology (BIMTECH), Jaipuria Institute of Management, Goa Institue of Management, (GIM), K J Somaiya

  1. GMAT (Date of exam: This exam is available around the year

Full form: Graduate Management Aptitude Test

Accepted in: GIM Goa, T A Pai Management Institute (TAPMI), SPJIMR, Xavier Institute of Management (XIMB), FORE, Institute of Management Technology (IMT), Lal Bahadur Shashtri Institute of Management (LBSIM), IMI

  1. NMAT (Date of exam: 10th October to 19th December 2022)

Full form: NMIMS Management Aptitude test

Accepted in: NMIMS Deemed-to-be-university, Vellore Institute of Technology (VIT), K J Somaniya, SD Bacconi Asia Centre, XUB

  1. MAT (Date of exam: 4th September 2022)

Full form: Management Aptitude Test 

Accepted in: Jaipuria, JIMS, Jagdish Sheth School Of  Management (JAGSoM), New Delhi Institute of Management (NDIM), IPE Hyderabad, BIMTECH 

  1. XAT (Date of exam: 8th January 2023)

Full form: Xavier Aptitude Test

Accepted in: TAPMI, XIMB, IMT, XLRI, IMI

  1. SNAP (Date of exam: 18th December 2022

Full form: Symbiosis National Aptitude Test

Accepted in: SCHMRD, SIBM Pune, and other Symbiosis International Universities

  • Institute level MBA entrance exams:

Institute-level entrance exams are held by specific management institutes. These institutes might not accept the scores of other entrance exams.

  1. IIFT: (Date of exam: 4th December 2022)

Full form: Indian Institute of Foreign Trade

Accepted in Indian Institute of Foreign Trade

  1. IBSAT: (Date of exam: 24th and 25th December 2022)

Full form: ICFAI Business school aptitude test

Accepted in Institute of Chartered Financial Analysts of India (ICFAI) b-schools 

  1. TISSNET: (Date of exam: 21st January 2023)

Full form: Tata Institute of Social Sciences National Entrance Test

Accepted in Tata Institute of Social Sciences (TISS) on all campuses

  1. KIITEE: (Date of exam: January 2023)

Full form: Kalinga Institute of Industrial Technology Entrance Exam

Accepted in Kalinga Institute of Industrial Technology School of Management, Bhubaneshwar

  1. MICAT: (Date of Exam: 10th December 2022 and 28th January 2023)

Full form: MICA Ahmedabad Admission Test

Accepted in MICA Ahmedabad

  • State Level MBA entrance exams:

State-level entrance exams are exams whose scores are accepted within a state like Maharashtra, Karnataka, etc. The score of these exams is not accepted in national-level colleges.

  1. MAH CET: (Date of exam: 23rd, 24th, and 25th August 2022)

Full form: Maharashtra Common Entrance Test

Accepted in N L Dalmiya, CIMR, SIMSREE, SIES, JBIMS

  1. Karnataka PGCET (Dates are to be announced yet)

Full form: Karnataka Post Graduate Common Entrance Test

Accepted in: ABBS, IBA, Alliance, AIMS

There are also other state-level exams that were held prior to this year, and those were: TANCET (Tamil Nadu Common Entrance Test), TS ICET (Telangana State Integrated Common Entrance Test), KMAT (Karnataka Management Aptitude Test)

What are the Career Prospects after an MBA in Healthcare management?

Top three jobs for MBA graduates in Healthcare Management:

Hospital CEO:

The chief executive officer of any organization looks after the smooth running of the organization, and that the employees are efficiently staffed to carry out the tasks assigned to them in an orderly manner. A hospital CEO is no different. Their job description includes the same thing. They have to oversee the quality of the primary and secondary services offered in the hospital. They also hold meetings with the heads of various departments to keep the overall working of the hospital in check. Their job description includes much more than what is listed here, and one needs to preserve the dedication to have the whole hospital run smoothly.

Medical Practice Manager:

Medical Practice Managers oversee every section of the clinic they work at. Everything is under them, from billing to the recruitment of the staff. To handle everything with the utmost attention, the eligibility for this role is MBA in Healthcare Management, among others.

Hospital Administrator:

The hospital administrator’s job is to ensure that all the departments in the hospital are well coordinated. They are connected with the department heads, CEOs/CFOs, and medical staff to maintain coordination among departments. They are also part of the recruitment team. The hospital administrator sets the rates for services offered by the hospital, and they are also the ones who plan the budget through proper analysis. They exercise control and coordination through the policies set by the governing board. The hospital administrator also oversees the procedures to assure that the patients are being dealt with utmost care.

FAQs on MBA in Healthcare Management

What skills are required in an MBA in Healthcare Management?

Answer: You need to have industry knowledge of the healthcare world. The healthcare industry is always under pressure, so you should have the ability to work under pressure. Communication and team-building skills are one of the basic skills required in any field. On should also be highly analytical.

What is the average salary of jobs for MBA graduates in Healthcare Management?

Answer: If you manage to get an entry-level position at a major company, then the average salary is 5-6 lakhs per annum. If you were already an executive or a professional working in the healthcare industry and hold the experience to move upwards, then the salary may be as high as 12-13 lakh per annum.

Where does an MBA in healthcare management graduate work?

Answer: Since everything here is about the healthcare industry and its alliance with business, you find yourself working in hospital groups pr major pharma companies.

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