What Is a Master of Healthcare Administration (MHA) Degree: Duration, Salary, and Job Outlook
Have you always been interested in leadership roles, especially those in healthcare organizations? Are you someone who is passionate about improving healthcare and strives to be a figure that inspires and guides communities to a better future? Then healthcare administration might be your calling. Becoming a healthcare administrator will take a lot of hard work, but it will be rewarding; for one, you will first have to obtain a master’s degree. Getting a master’s degree in healthcare administration (MHA) is something that a lot of students pursue in order to get the best opportunities that this field has to offer. Keep on reading to learn everything there is to know about this degree and what it takes to earn it.
What Is a Healthcare Administrator?
Healthcare administration is a field related mostly to the management, leadership, and administration of healthcare systems and all healthcare facilities. Therefore, a healthcare administrator is a professional who works specifically on making big decisions involving a healthcare institution or facility.
What Is a Master of Healthcare Administration Degree?
A Master of Healthcare Administration is a title awarded to students with a master’s professional degree for completing a course that provides the knowledge and skills needed to pursue a career in healthcare administration—supervising hospitals and other healthcare organizations, consulting, and performing other public health groundwork.
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A Master of Healthcare Administration allows students to boost their careers while taking on leadership roles in healthcare facilities or one single department, alongside financing healthcare organizations. An MHA degree can last anywhere from 12 months to 2 years if you’re studying full time. At the same time, students who study part time for an MHA degree can take 3 to 5 years to complete it.
What Can You Do With an MHA Degree?
An MHA degree equips students with the knowledge to become strong leaders and assists them in developing skills in problem-solving and strategic thinking, as well as gaining a vital understanding of financial institutions and healthcare delivery. This degree will allow you to master in a program of a specialty of your choosing, such as:
Master of Public Health: you will be able to work as a health educator, clinical dietician, healthcare administrator, epidemiologist, public policy coordinator, substance abuse counselor, etc.
Master of Healthcare Administration: you can work as a clinic director, chief nursing officer, director of hospital operations, director of patient safety, etc.
Master of Business Administration: you can work as a financial advisor, management analyst, CEO of a healthcare company, investment banker, marketing manager, etc.
What Skills Does a Healthcare Administrator Need?
Healthcare administrators need to be passionate about improving the healthcare system and providing an excellent experience for patients. Some of the most essential qualities and skills a healthcare administrator must have are teamwork, organization, communication, and business administration skills. In addition, it is important they learn to perform tasks such as budgeting profits and costs, assuring quality, and having an understanding of patient care.
Moreover, healthcare administrators need to prioritize the safety of their staff and team members. An MHA also needs to be familiar with the HIPAA (the Health Insurance Portability and Accountability Act of 1996) laws, which are federal laws that protect the patients’ health information from being revealed without the patients’ consent.
What Does a Healthcare Administrator Do?
The responsibilities of a healthcare administrator will vary depending on the facility he works in; they may manage a whole healthcare facility or a specific department. An MHA has to be flexible with taking on new responsibilities while ensuring that the facility complies with both state and federal laws. That being said, there are some typical duties that all healthcare administrators have to do or at least know how to do. Here is a list of some of them:
Training staff members
Managing facility finances
Monitoring budget and spending costs
Collaborating with other physicians and nurses
Managing billings and fees of patients
Establishing work schedules for physicians and staff members
Meeting with governing boards and presenting at investor meetings
Guaranteeing that the facility follows all laws and regulations
Improving facility’s effectiveness and value
Where Do Healthcare Administrators Work?
One of the advantages of becoming a healthcare administrator is the variety of places one can work in. Due to the amplitude of the skills and responsibilities of an MHA, their expertise is needed in many healthcare facilities. You can work as an MHA in places such as hospitals, physicians’ offices, nursing care facilities, medical and diagnostic laboratories, outpatient care centers, insurance companies, pharmaceutical corporations, and government agencies.
Healthcare Administration Job Outlook
According to research provided by the U.S. Bureau of Labor Statistics, there is expected to be a noticeable increase in the number of job opportunities in the medical field in the upcoming decade. Healthcare jobs are expected to increase 32%, more than the average of other occupations. So if you’re thinking of a career in healthcare administration, now is the time to buckle down and work hard for a better future.
Healthcare Administration Salary
For those who are passionate about working in healthcare but don’t want to pursue the nursing route, healthcare administration is the choice for you. It is one of the highest paying careers and, as mentioned above, is expected to grow in demand. According to Payscale, the average annual salary for an MHA is $67,141, but with years of experience, you can earn a higher salary of up to $89,746. Here are some of the highest-paying places of employment for healthcare administrators according to BLS:
Government - $111,520
Private and Public Hospitals - $110,430
Outpatient care facilities - $95,320
Physicians’ offices - $91,600
Nursing and residential care facilities - $86,820
Conclusion
Consider all of this information as arguments as to why you should obtain a master’s degree in healthcare administration. Most healthcare facilities will prioritize candidates that have an MHA degree, and with all the opportunities of high-paying jobs and leadership positions that await you, the cost of money and time is worth obtaining an MHA degree.