A Master of Business Administration is one of the most coveted academic degrees. In recent times, the scope of an MBA in healthcare management has widened to include many new streams. One such stream is the MBA in hospital and healthcare management.

As the healthcare industry changes and adapts to our new tech-led reality, there is an increased need for proven management practices that can help large medical institutions run smoothly. A 2-year professional course in healthcare management is aimed at preparing students for the management and operational challenges in large hospitals, pharmaceutical companies, as well as in other healthcare places.

Why should you select an MBA in hospital and healthcare management?

India has long been recognised as a leader in the medical and healthcare industry. We have a strong system of public and private healthcare providers, and every day, more names get added to this list. Seamless management of hospitals and other healthcare facilities has therefore become a prominent sphere for career opportunities.

It is important to note that the scope of an MBA in healthcare management is not limited to doctors alone. A vast range of jobs and business opportunities have sprung up for even non-medico professionals in the fields of hospital administration, management, HR, IT, finance and other domains. 

Who can apply for this course? 

You can apply for this MBA course if you fulfil any of the below criteria:

  • You are a graduate with life sciences or equivalent grade in any discipline such as Medicine (MBBS)/BDS/ BAMS/BUMS/BHMS or have a Master’s Degree in Biotechnology/ Genomics/ Genetics/ Nursing/ Bioengineering/ Alternative Systems of Medicine/ Paramedical Discipline/ Pharmacology/ Anthropology/ Zoology or an examination recognised as equivalent to it
  • You have appeared and passed an MBA entrance test
  • You have the requisite experience in the healthcare sector (you are a doctor, nurse, or healthcare provider) and are trying for an executive MBA in Healthcare Management. 

What are the colleges that provide this degree?

Let’s look at the two different formats for this degree and the colleges where you can apply for the same:

  1. PG Certificate in MBA Healthcare Management by IIMs

Most MBA degrees are of a 2-year duration. However, IIM Calcutta offers a 1-year postgraduate certificate in healthcare management. While it is not exactly an MBA, the program covers all the major subjects similar to any B-school.

  1. 2-Year Full-Time Specialized MBA or equivalent PGDM in healthcare management by top B-Schools and universities

Most of the top B-schools in the country offer an exclusive standalone healthcare management program. This includes colleges like SIHS Pune, GIM Goa, K J Somaiya Mumbai, and Welingkar Mumbai, among others.

What is the MBA in healthcare management syllabus like?

The MBA in healthcare management syllabus covers a gamut of topics. As a management professional in this field, one is required to have an understanding of the basics of the healthcare and pharmaceutical industry and its practices. The course syllabus, therefore, includes subjects on planning and management, industry policies, regulations and information management, hospital operations as well as administration.

Apart from this, there are subjects on branding and the use of digital and social channels for spreading the word about the hospital or healthcare provider. In today’s age, where patients check online reviews before choosing a healthcare provider, it is important to have a strong social and online presence. The MBA in healthcare management syllabus also covers medical tourism and international healthcare practices for global brands that may be catering to foreign patients.

The MBA course is designed to cover a wide range of topics for a more holistic and relevant approach to healthcare management.

We have looked at some of the top universities that offer an MBA in healthcare management and listed down the basics of the course syllabus below:

  • Strategic Management in Healthcare
  • Healthcare Operations Management
  • Marketing Management
  • Healthcare Accounting
  • Research Methods in Healthcare
  • Legal Environment for the Healthcare industry
  • Biostatistics and Operations Research
  • Management Communication
  • Ethics & Corporate Governance
  • Healthcare Systems and Structure
  • Managed Care Healthcare Analytics
  • Managing Hospital Services
  • Healthcare Information Systems
  • Management of Research in Healthcare
  • Healthcare Services Delivery & Distribution
  • Principles of Epidemiology
  • Quality Management in Healthcare
  • Hospital Planning and Design
  • Medical Technology
  • Healthcare Services Marketing
  • Healthcare Informatics
  • Strategic Cost Management in Healthcare
  • Digital Marketing in Healthcare
  • Accreditation of Healthcare Organisations
  • Financing and Paying for Healthcare
  • Sales & Distribution Management
  • Pharmaceutical Marketing
  • Applied and Behavioural Economics for Healthcare
  • Leadership in Healthcare
  • International Health
  • Medical Tourism
  • Health Policy
  • Branding in Healthcare

What is the expected salary after doing an MBA in healthcare management?

The salary one can expect after pursuing this degree would depend on the job role offered. Below you can find an approximation of some of the top roles in the industry and the average MBA in healthcare management in India salary for diverse roles:

Why is an MBA in healthcare management a good career option?

It is true this course is not as glamorous as its other corporate counterparts. However, it does not mean that it is not a rewarding career option. If you want to understand how this degree can help your future prospects, then let us help.

  • Healthcare management can be a very rewarding career path

Employees in this career can draw a very direct line between their actions and their impact on the community. As a healthcare professional, the way you manage daily operations can have a huge effect on a patient’s life.

  • You have the ability to make a positive change

During COVID, many patients were happy to have online consultation facilities and other initiatives that the healthcare industry came up with to tackle the pandemic. In moments like this, a management professional can lend a huge helping hand to bolster community initiatives and affect real-time changes by increasing efficiency and accountability.

  • Impressive income

With an MBA in healthcare management, you can earn a handsome income while being part of the greater good. The average salary of someone in this profession is ₹ 4.7 lakhs and can go higher depending on the institution they are associated with.

Conclusion

If you are someone who enjoys organisational work and would like to use creative ideas to turn around a very traditional industry, then this job is for you. It doesn’t hurt that the role also comes with a lot of altruism and perks and can help you earn well while doing something for the greater good of the community.

If you’d like to know more about the MBA in Healthcare Management course, Sunstone can help. Sunstone is a leading higher education services provider that works in tandem with academic institutions to help upskill students and offers career-oriented training interventions for undergraduate and postgraduate students at 30+ institutions across 25 cities. Sunstone’s training programs are designed for hybrid delivery with an unparalleled focus on soft skills and personality development. Sunstone’s focus is to provide students with a holistic educational experience and enhance employability.

Frequently asked questions

  • What does a professional with an MBA in healthcare management do?

Healthcare management is an umbrella term that deals with the day-to-day management of clinics, hospitals and other healthcare facilities. A professional with an MBA degree in healthcare management is expected to take charge of the smooth functioning of a given facility. They would be responsible for the efficient operations management, the budget, branding, and aligning the goals of the facility’s practitioners with the needs of the community.

  • Which MBA institute is best for healthcare management?

The recognised institutions that provide an MBA in healthcare management include IIM Calcutta and top B-schools like Symbiosis Pune and GIIM Goa.

  • What are the jobs after MBA in healthcare management?

MBA in healthcare management is a specialised course meant for both medico and non-medico professionals interested in administration, management, HR, IT, finance and other domains.