Postgraduate study can help healthcare professionals capitalise on their leadership potential – but how can you make sure you choose the right qualification? While the Master of Business Administration (MBA) is a popular course for people who are interested in developing skills to run a business effectively, the healthcare industry has several very specific measures of success that are unique to the sector.
In this article, we’ll explore how a Master of Health Administration (MHA) course more closely aligns with the ambitions of healthcare workers and opens unique doors to career advancement opportunities in the sector.
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 an MBA, first comparing it with what a Master of Health Administration will ensure you’re making an informed 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.
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.
However, healthcare industry professionals will gain deeper health industry management insights by studying a more specialised qualification such as the MHA. The MHA allows aspiring healthcare leaders to develop essential sector capabilities, such as those outlined by the Victorian Government in the Allied Health Career Pathways Blueprint.
Even though the skills taught in the MBA can be incredibly advantageous in a variety of contexts including advancing your career, experts in the healthcare industry are calling for employees at all levels to be equipped with a diverse managerial skill set that improves the specific outcomes of patients and builds leadership skills informed by the unique challenges facing the sector.
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, healthcare outcomes, patient satisfaction, and much more. This requires more strategic thinking at all levels for organisations to be successful.”
The MHA online alternative
Monash University’s 100% online Master of Health Administration is the ideal qualification for healthcare professionals who are looking to step up in their careers. It develops practical skills for students to successfully lead healthcare organisations whilst being supported by some of the industry’s leading researchers and managers.
Vital healthcare skills are covered in each unit, including:
- ACF5268 – Accounting for healthcare managers – This unit introduces accounting principles to non-accountants, giving healthcare 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 of 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 healthcare 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 healthcare management and leadership skills identified in research by the Centre for Creative Leadership.
- MPH5316 – Healthcare improvement and learning systems – You’ll learn to evaluate knowledge mobilisation (KM), develop common strategies to disseminate science across communities and how to lead and maintain innovative practices in the workplace.
To gain the skills and deep knowledge required to navigate the increased complexities of a rapidly changing health sector and advance your career opportunities in the sector, find out more about the online Master of Health Administration today. To learn how it could be the right course for you, speak to one of our course consultants on 1300 272 509.
