Masters in Healthcare Management Online Degree Programs of 2022

Master's Degree in Healthcare Management Career Options & Salary

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The healthcare industry is one of the fastest-growing, most dynamic industries in the nation today. The aging population, plus increased access to care has benefited professionals everywhere. Where healthcare administration professionals used to adapt their MBA coursework to fit the specific needs of healthcare, there are now graduate degree programs specifically aimed towards generating the most focused and knowledgeable professionals possible in this profession. Not only that, but these courses are more and more commonly available through online education or hybrid programs, which offer some online and some traditional courses.

Whether you are seeking an MBA with specialization courses in health sciences or healthcare, or a master's degree in healthcare management, this page is for you. Here you will learn all about how a graduate degree will impact your healthcare career for the better. An online master's in healthcare management degree or an MBA in Healthcare Management will not provide you with foundational coursework; you'll gain that from your bachelor's degree. Instead, a master's program will focus on specialization courses that will cover subjects in health sciences and health administration such as the following.

  • Financial Principles and Statistical Principles
  • Healthcare Information Systems
  • Business Administration
  • Health Management for Healthcare Quality and Reliability
  • Financial Management
  • Issues in Healthcare
  • Health Policy and Organizational Leadership
  • And More

PROS

There are numerous advantages to earning an online or in-person master’s degree in healthcare management. One of the chief benefits is that you will learn much more about your industry and how it works. Your coursework will help you become more effective as a healthcare administrator and leader. Even experienced healthcare managers will find that the degree can pave the way to greater success through improved skillsets and better resumes.

When you graduate from an online master’s in healthcare management degree, you'll soon find that the doors of opportunity start to open wider than they did before. Upper management, and even C-level jobs, will be within your reach. Naturally, that will include everything that comes with it such as added responsibility, higher salary, improved benefits packages, and healthy year-end bonuses.

Your degree also opens up more possibilities for leadership in industry associations. You might be asked to speak at regional and national conferences or write articles that reflect your positions on various healthcare matters. Thus, your career may take on a new dimension. Your expertise may have a broad, even national, impact on healthcare administrators and patients.

Finally, much of the foundational coursework for a master's in health management or MBA in Healthcare Management, such as courses covering financial principles, statistical principles, and healthcare information systems, can be completed through an online master's in healthcare administration. This means that experienced healthcare managers need not quit their jobs in order to earn a degree in the healthcare field from a business school that is hours, or states, away.

CONS

While there are many positive aspects to earning a master’s degree in healthcare management, there are also downsides. One of the biggest detractors to a graduate degree is the cost, even if you attend online. Professional degrees are not cheap and there is never any true guarantee that your investment will pay off in terms of higher salary or even a promotion. Further, if you cover the up-front costs with student loans, those costs will soon grow when compounded interest rates are applied.

There is also a significant amount of time and energy that goes into achieving a master’s degree, which may be difficult to push through if you attend online and have trouble balancing your school, work, and family life. If you continue working full-time, you may have to sacrifice much, if not all, of your family and leisure time for the sake of studying and coursework, even with an online master's in healthcare. Even if you’re able to attend school full-time without the burden of working in the healthcare arena, you will still be very busy.

These negative aspects of a master’s degree can be overcome, however. If you make a clear plan for time, financial management, and other requirements; you can navigate graduate school and emerge a better-educated, more successful professional.


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What are the Best Online Master's in Healthcare Management College Programs?


1

Johns Hopkins University

  • Net Price: $25,241
  • Retention Rate: 97%
  • Graduation Rate: 94%
  • Total Enrollment: 28,890
  • Undergrad Students: 6,331
  • Graduate Students: 22,559
  • Diplomas Awarded: 222
  • Grads Salary: $89,000
  • Student-to-faculty: 6:1
  • Johns Hopkins University
2

Michigan State University

  • Net Price: $16,655
  • Retention Rate: 91%
  • Graduation Rate: 81%
  • Total Enrollment: 49,695
  • Undergrad Students: 38,491
  • Graduate Students: 11,204
  • Diplomas Awarded: NA
  • Grads Salary: $73,000
  • Student-to-faculty: 16:1
  • Michigan State University
3

George Mason University

  • Net Price: $18,285
  • Retention Rate: 86%
  • Graduation Rate: 72%
  • Total Enrollment: 38,541
  • Undergrad Students: 27,104
  • Graduate Students: 11,437
  • Diplomas Awarded: 16
  • Grads Salary: $76,000
  • Student-to-faculty: 17:1
  • George Mason University
4

University of Arizona

  • Net Price: $15,620
  • Retention Rate: 85%
  • Graduation Rate: 65%
  • Total Enrollment: 45,601
  • Undergrad Students: 35,357
  • Graduate Students: 10,244
  • Diplomas Awarded: 5
  • Grads Salary: $76,000
  • Student-to-faculty: 15:1
  • University of Arizona
5

University of Rhode Island

  • Net Price: $15,386
  • Retention Rate: 85%
  • Graduation Rate: 71%
  • Total Enrollment: 17,649
  • Undergrad Students: 14,904
  • Graduate Students: 2,745
  • Diplomas Awarded: NA
  • Grads Salary: $71,000
  • Student-to-faculty: 17:1
  • University of Rhode Island
6

Arizona State University

  • Net Price: $14,653
  • Retention Rate: 86%
  • Graduation Rate: 66%
  • Total Enrollment: 74,795
  • Undergrad Students: 63,124
  • Graduate Students: 11,671
  • Diplomas Awarded: NA
  • Grads Salary: $72,000
  • Student-to-faculty: 18:1
  • Arizona State University
7

Case Western Reserve University

  • Net Price: $36,002
  • Retention Rate: 93%
  • Graduation Rate: 85%
  • Total Enrollment: 11,465
  • Undergrad Students: 5,430
  • Graduate Students: 6,035
  • Diplomas Awarded: NA
  • Grads Salary: $81,000
  • Student-to-faculty: 11:1
  • Case Western Reserve University
8

Florida Institute of Technology

  • Net Price: $33,313
  • Retention Rate: 82%
  • Graduation Rate: 60%
  • Total Enrollment: 6,775
  • Undergrad Students: 3,475
  • Graduate Students: 3,300
  • Diplomas Awarded: 6
  • Grads Salary: $80,000
  • Student-to-faculty: 15:1
  • Florida Institute of Technology
9

Colorado Technical University

  • Net Price: $17,048
  • Retention Rate: 48%
  • Graduation Rate: 23%
  • Total Enrollment: 28,244
  • Undergrad Students: 24,759
  • Graduate Students: 3,485
  • Diplomas Awarded: 149
  • Grads Salary: $88,000
  • Student-to-faculty: 31:1
  • Colorado Technical University
10

Indiana Institute of Technology

  • Net Price: $20,470
  • Retention Rate: 70%
  • Graduation Rate: 38%
  • Total Enrollment: 2,370
  • Undergrad Students: 1,612
  • Graduate Students: 758
  • Diplomas Awarded: NA
  • Grads Salary: $78,000
  • Student-to-faculty: 12:1
  • Indiana Institute of Technology
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Overview of a Master’s in Healthcare Management


What Healthcare Management Graduate Degrees are Available?


  • Master of Science in Healthcare Management:
    An MS will focus on courses such as finance, public health, and the statistics involved in managing healthcare systems. However, some MS programs are lighter on these analytical topics than others. Because these science degrees still don't require much hands-on learning, they are still accessible through online learning.
  • Master of Arts in Healthcare Management:
    Though this degree is sometimes hard to distinguish from an MS, your work in an MA program might have more of a focus on topics such as management, communications, and leadership. Arts degrees are often the most accessible when it comes to attending online because the format transfers easily to an online learning environment.
  • MBA with a Concentration in Healthcare Management:
    This is a popular choice because it blends a core MBA curriculum with specialized coursework in healthcare. The advantage here is that approximately half of your coursework will be applicable to any sort of business situation, which might prove useful in you later career. For instance, a working knowledge of corporate finance may prove helpful if your health system decides to purchase or merge with another.
  • Master of Healthcare Administration:
    The MHA degree has evolved as something of a response to the ever-popular MBA. The only downside to this degree is that you'll graduate with a view of the industry that is all-encompassing, but you may not have the focus necessary to get into management of sub-interest departments.

Admission Requirements to Enter a Master’s Healthcare Management Degree Program 


Once you have decided to embark on a master's degree in healthcare management, you will have to gain admission to a program. Depending on your program, you may need to provide scores from a graduate admissions examination such as the GRE or GMAT. However, these tests are somewhat falling out of favor. You will also need to provide official transcripts from every college or university you've attended. You may need to provide letters of recommendation from supervisors and past professors. For those who have professional experience, your resume will be required as well as an admission essay that details how you intend to apply your graduate degree in the healthcare industry.

How long does it take to earn a Master’s Degree in Healthcare Management?


Though every program is a bit different, most master's degree programs in healthcare management are structured to take around two years to complete. This assumes that you are able to attend full-time. If you are taking courses on a part-time basis, you might take three or more years.

However, many programs are structured to help students expedite their studies and graduate in two years or less. You'll surely find many accelerated programs, which can be intense, but the short-term pain will be worth it when you quicken your rise to the top.

Potential Careers in Healthcare Management with a Master’s Degree


  • Hospital Administrator:
    This is a very important position that will involve tasks such as budgeting, public relations, managing daily operations, and overseeing fundraisers, among other responsibilities. Hospital administrators are responsible for every aspect of a hospital's operation. Thus, you will need to maintain clear and open communication channels between yourself and each department, as well as facilitating inter-departmental communications. A graduate degree that prepares you to address all of the various issues involved in the operation of such a complex organization will be invaluable. For all of that work, hospital administrators earn an average salary of $87,000, not including bonuses and benefits.
  • Healthcare Manager:
    Professionals in this position are often in charge of specific departments or clinics within a larger healthcare system. You will also need to be able to work within a budget and help develop business strategies. To attain this position, you'll need at least a bachelor's degree in healthcare management, but a master's degree will make you all the more effective. According to Payscale.com, healthcare managers earn an average salary of $65,000 before bonuses and benefits.
  • Clinical Director:
    In this position, you will be charged with coordinating the short and long-term operations of a clinic, or even a group of clinics. You must have a full, working knowledge of billing systems, budgeting, and be able to coordinate your staff. Clinical directors must be able to create effective schedules, facilitate communications between employees, and negotiate deals with the vendors who supply equipment to the clinic. Clinical directors earn an average annual salary of $77,000 before bonuses and benefits.
  • Chief Executive Officer:
    The CEO is the head of a health system. You might achieve this position after years working as a hospital administrator. Many CEOs are charged with a complex network of clinics, labs, and hospitals that fall under their corporate umbrella. The pay for a CEO is usually quite high because of this. Since a CEO's duties and responsibilities often fall more in the traditional business world than that of healthcare, you might consider an MBA or perhaps graduate certificates that address corporate finance, marketing, and organizational management. CEOs earn an average salary of $155,000 before bonuses, stock options, and benefits.

Options to Advance


If you are working in healthcare administration and want to advance into management or beyond, you will probably need more training. One option is to seek out a graduate certificate program that focuses on your specific area of expertise. There are many options available such as certificate in marketing, clinical informatics, finance, communications, and management. Each of these specialty certificates can be found with a healthcare focus. Make sure to earn your certificate from a nationally accredited program and that the degrees they offer are appealing.

Your additional training will give you an edge and open up more possibilities within your daily duties, but a full degree will be even more helpful. The good news is that your graduate certificate will provide credits that can be applied toward an eventual master's degree. If you apply this strategy, your education will span a longer period of time but you will have met certain useful goals along the way.

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