Introduction
This decade, countless healthcare professionals are going to obtain master’s degrees. There are many different ones to choose from in the field of healthcare study, with one of the most popular being a ‘Master of Healthcare Administration (MHA)’. The reason why this particular program remains so popular is that it provides a variety of different benefits. To get you up-to-date, this guide has condensed the benefits down into a ‘Top 8’ list. After absorbing them, you’ll then understand why getting an MHA is a smart career move to make, especially in an age where the healthcare job market is very competitive. Let’s begin.
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Earning Potential
If you’re wondering why get an MHA, the first reason alone might be enough to convince you.
After successfully completing your MHA program, you’ll automatically put yourself in a position where you can earn more money. As a healthcare professional, this is great news. Salaries can vary from institution to institution. However, on average, the average annual salary for an individual with an MHA is $115,160. Of course, if you gain even more industry experience, then the sky is truly the limit.
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Learn Valuable New Knowledge and Skills
Throughout the duration of your MHA program, you’ll learn new knowledge and skills that can then be applied in the workplace. Most modern-day MHA programs are focused on emerging trends in healthcare technology as well as the constantly evolving health ecosystem. You will also learn about financial analysis and strategic management.
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Open Up Management Opportunities
If you’re someone who has big career ambitions with a specific aim to go into management, then an MHA is ideal for you. As just mentioned, strategic management is a big focus point during MHA studies. Your management skills will reach new heights and you’ll be fully equipped with the tactical know-how on how to lead a team forward in an inspirational way.
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Explore Different Avenues
Each year, thousands of healthcare professionals earn their MHA degrees. After this, they then go on to explore a range of different avenues.
Here are just some examples of where MHA graduates work:
- Public hospitals
- Private healthcare practices
- Pharmacies
- Government organisations
- Nursing homes
- Outpatient care centres
If say, you have the end goal of becoming the manager of a private healthcare practice, you would certainly give yourself a great shot at achieving this with an MHA. In some cases, people even go down the entrepreneurial route by opening up their own healthcare practices.
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Have Greater Influence
Sometimes, healthcare professionals want to have greater direct influence within their institutions, whether this is regarding the annual budget or staff training. By getting an MHA, you can do this after taking on a management role.
Usually, the main responsibilities of a healthcare administrator revolve around management, leadership, and budgeting. Because of this, anyone with the power of an administrator can have great influence.
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Future-Proof Your Career
It’s no secret that many industries have struggled over the past couple of years due to the COVID-19 pandemic, Ukraine and Russia war, and much more. However, one industry that has not been impacted too negatively is the healthcare industry.
Specifically, within the healthcare industry, the demand for healthcare administrators is booming. According to the U.S. Bureau of Labor Statistics, between 2019 and 2029, the healthcare administrator field will grow by 32%, with an estimated 133,200 new roles emerging.
In a nutshell, this means you’ll never have to worry about the impacts of inflation. In terms of security, being a healthcare administrator is right at the top of the pile.
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Train Staff
Outside of managing teams, you’ll also have the opportunity to train staff after earning your MHA. You can train them regarding healthcare policies, practices, procedures, and much more. Additionally, you’ll also be able to provide staff with annual evaluations and reviews which will enable them to make further improvements.
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Part-Time or Full-Time Studying: Choose Your Preference
Finally, when it comes to actually studying for your MHA, you can either do it one of two ways: part-time or full-time. For instance, if you’re an existing healthcare professional with a busy schedule, then you’ll likely want to study on a part-time basis. This is something that you can easily do. Alternatively, if you want to commit to full-time studying, then this is also an option on the table.
Best of all, if you study an online MHA program, you’ll be able to do all the online studying from home. This allows a great amount of flexibility, as you don’t have to worry about physically attending seminars or lectures on any campus. Instead, all the learning materials you need can be accessed online using either your laptop, tablet, o smartphone.
Summary
Now that you’ve finished reading this guide, you’ll understand how valuable an MHA is. Remember, even if you’re a professional with work commitments, you’ll still be able to earn an MHA on a part-time basis whilst doing it all from the comfort of your own home. Good luck with your studies and future career.
