How Can Health Care Leaders Advance Their Careers with a Master of Health Administration?
Postgraduate study can help health care professionals capitalise on their leadership potential – but how can you be sure you’ve chosen the right qualification? While the Master of Business Administration (MBA) is a popular course worldwide, some industries are suited to specialised degrees. Due to the more specific nature of the Master of Health Administration (MHA), it can open doors to advancement opportunities in health care.
If you’re thinking of enrolling in either an MBA or an MHA, we can help you decide which degree best aligns with your ambitions.
Master of Health Administration vs Master of Business Administration
Before committing to postgraduate study, it’s crucial to determine the relevancy of your chosen qualification. If you’re considering enrolling in the MBA, comparing it with the MHA will ensure you’re making the right choice.
With its prestigious history, the MBA is one of the most popular postgraduate qualifications in the world. The MBA market in Australia is worth around $500 million, with over 20,000 current enrolments (according to MBA News). The MBA develops generic leadership skills, whereas health care industry professionals may benefit from studying a more specialised qualification. Completing the MHA will allow aspiring health care leaders to develop the essential capabilities, such as those outlined by the Victorian Government in the Allied Health Career Pathways Blueprint.
Rather than concentrating on a single sector, the MBA prepares students for management roles in a broader context. It takes a strategic and practice-based approach to leadership development, giving graduates the management skills needed to qualify for senior roles in a range of industries.
Even though the skills taught in the MBA can be incredibly advantageous in some professions, experts in the health care industry are calling for employees at all levels to be equipped with more diverse skillsets than ever before.
Louise Weed, Instructor at the Department of Health Policy and Management at the Harvard T.H. Chan School of Public Health, states:
“We are in a place with health care where things are shifting. We are seeing more of a focus on value-based care, complex case management, health care outcomes, patient satisfaction, and much more. This requires more strategic thinking at all levels for organizations to be successful.”
With an MHA, you’ll have the opportunity to advance your career with formal recognition of the most in-demand health care skills.
Given the broad framework of the MBA, the MHA is an ideal alternative qualification for health care professionals. It aims to provide academic preparation for managers in health care and public health, giving students the necessary experience to successfully lead health care organisations.
Vital health care skills are covered in each unit, including:
- ACF5268 - Accounting for healthcare managers – This unit introduces accounting principles to non-accountants, giving health care leaders the ability to balance budgets and manage costs (basic accounting skills are widely acknowledged as a crucial skill in medical office settings).
- HEC5979 - Health economics – Students will develop an understanding for microeconomic approaches to resource allocation, allowing for effective resourcing. This skill is included on the World Health Organisation’s list of leadership and management skills, indicating its importance for health care professionals.
- MPH5304 - Leading and managing in public health and health care – From change management to staff recruitment, this unit is designed to develop many of the key health care leadership skills identified in research by the Centre for Creative Leadership.
These examples demonstrate how Monash Online’s MHA caters specifically for management roles in health care.
The Importance of Expert Knowledge
The evolution of health care has led to increased demand for professionals who can handle the industry’s diverse needs. “It’s a 24-hour a day job”, Dr Karen Owen, Chief Executive of the Royal Australasian College of Medical Administrators (RACMA) told the Medical Journal of Australia.
“But it’s engaging, challenging and there’s plenty of variety”, she adds.
Start making the most of your career advancement opportunities in health care by finding out more our Master of Health Administration today. You can also book a 15-minute consultation with a Course Consultant to discuss your options.