What is MBA in Hospital Administration All About?
Hospital administration is a combination of healthcare services and management. It provides the quality of service and ensures its affordability and accessibility to various communities. It helps reduce healthcare expenditures and creates more financial resources. For a country to grow economically and in the healthcare industry, providing quality healthcare is essential.
Having an MBA in Hospital Administration opens up several career opportunities in the healthcare sector. This degree prepares students to take on management duties in healthcare companies, pharmaceutical firms, and hospitals. In the wake of the recent Coronavirus pandemic, this program has emerged as one of the most popular options among management degrees.
If you are considering an MBA program, you should pick the right specialization. For those who want to improve healthcare systems for the benefit of the public, the MBA in Hospital Administration is the best option. In this program, students will learn the cutting-edge skills needed to organize and direct complex health care frameworks. By covering a variety of topics such as Business Administration and Healthcare Management, it aims to reinforce a student's functional abilities and expand their knowledge of multi-dimensional human services associations.
Furthermore, as the Healthcare industry continues to grow due to Coronavirus, an MBA in Hospital Administration is a great career choice right now.
For more information about MBA in Hospital Administration, check out this blog.
MBA in Hospital Administration: Course Highlights
In this 2-year postgraduate course, students are taught management skills relevant to the proper operation of a hospital. This program provides students with the business skills needed to direct complex health care frameworks.
This course has the following highlights:
MBA Hospital AdministrationCourse Level | Post-graduation |
MBA Hospital Administration Course Duration | 2 years |
MBA Hospital Administration Course Examination Type | Semester System |
MBA Hospital Administration Course Eligibility | Bachelor’s Degree in any field |
MBA Hospital Administration Course Admission Process | MCQ type entrance test followed by a group discussion and interview |
MBA Hospital Administration Course Major Entrance Exams | CAT, MAT, XAT etc. |
MBA Hospital Administration Course Fee | INR 1.5 to INR 7 lakhs |
MBA Hospital Administration Course Average Salary | INR5-12 lakh per annum |
Top Hiring Companies for MBA Hospital Administration Course Graduates | Apollo Hospitals, Max Hospitals, Ranbaxy, Sun Pharma, Dabur India |
MBA in Hospital Administration: Eligibility Criteria
MBA in Hospital Administration programs in healthcare are widely available around the world, but eligibility criteria are determined by their respective colleges. Typically, students need to pass entrance exams with a cut-off percentile.
The requirements for pursuing an MBA in Hospital Administration are specific. Applicants need to meet the following prerequisites:
- It is expected that applicants will hold an undergraduate degree in a relevant subject, such as BBA, BA, B.Sc., B. Com, BCA or B.Pharm from a recognized university and maintain a minimum average of 50%.
- The applicant must appear in and qualify for an entrance examination for management, such as CAT, XAT, MAT, CMAT, SNAP, and other university level exams.
- Students must have good test results and comply with all other requirements.
- No age restriction applies to the program.
- It is recommended that you have work experience, although it is not vital.
MBA in Hospital Administration: Admission Process
Graduates in any field can apply to pursue MBA in Hospital Administration. Each institute offers a different set of prerequisites that must be fulfilled by a candidate to qualify for admission. Listed below are the step-by-step details of the MBA in Hospital Administration admission process:
- Applicants must complete an application on the official website of the examination conducting body for taking management entrance exams such as CAT, XAT, GMAT, SNAP or others.
- Also, they can register for university level entrance examinations in the colleges that offer MBAs in Hospital Administration.
- Candidates are required to appear at the examination centre at the scheduled time and date.
- Applicants need to apply for admission to the colleges offering MBAs in Hospital Administration using the scorecard.
- For admission to the MBA in Hospital Administration program, students must reach the minimum cut off range set by the college.
- In the counselling process, the selected candidates are allotted seats.
- Payment of the admission fees and documentation.
- After the admission process is completed, candidates are issued an enrolment number.
MBA in Hospital Administration Salary in India
In top MNCs, Private pharma companies or Government enterprises, an MBA in Hospital Administration degree can help you secure a well-paying job. In India, the average salary is in the range of Rs 5-12 lakh per year. Furthermore, the high salary bracket is designed to compensate for the possibility of having to work odd hours because public health is involved. For a hospital CEO or CFO, the average annual salary ranges from Rs 30 lakh to Rs 36 lakh.
*Source- Pay Scale
MBA in Hospital Administration Entrance Exam
The results of the entrance examinations are used to determine admission to various institutes and universities. Here are the top entrance exams for the MBA in Hospital Administration program:
- Common Admission Test (CAT)
- Management Aptitude Test (MAT)
- State MBA Healthcare Management Exams
Major Research Project Topics for MBA in Hospital Administration
The MBA in Hospital Administration has proved to be a very popular program for students who are looking to make a career in leadership, project management or other areas of hospital management. The MBA in Hospital Administration will give you the broad business experience necessary to make a bigger impact in your field.
There are many research topics available in the field of hospital administration, including Healthcare Intelligence, Healthcare IT, Electronic Health Record, Virtual Patient, Virtual Surgery, Virtual Reality Medical Applications, Healthcare Data and many more.
Why MBA in Hospital Administration: Top 5 Reason to Choose MBA in Hospital Administration
One must be well-prepared to compete in this competitive sector. The MBA in Hospital Administration degree equips graduates with advanced and flexible managerial skills. Due to the challenges involved, this has become a sought-after quality for those in the healthcare field.
A growing and vibrant industry:
With the pandemic, the healthcare industry has emerged as one of the top industries. The healthcare sector is growing and so are the positions and roles within it.
Leadership and people management skills:
MBA in Hospital Administration program equip students with the necessary leadership & management skills in the healthcare sector. They learn to handle all kinds of crisis, to build the company's image, and to make tough decisions.
Knowledge of managing a business:
The program enables you to effectively manage the internal and external functions of a medical organization. Having these responsibilities is beneficial for career advancement and as a healthcare provider today.
Lucrative career prospects:
Earning this degree opens up a variety of career paths in hospital administration and management. Also, candidates are capable of filling senior positions.
High salary structure:
Profiles in this domain are rewarded with a high salary package.
Required Skills for MBA in Hospital Administration
This program is best suited to candidates with basic knowledge of hospital administration. Leadership skills and an intense interest in management techniques are required to succeed in this course.
As we proceed, let's examine some other key skills:
1. Teamwork skills:
A hospital has a wide variety of departments, each with its own set of employees, challenges, and requirements. Therefore, you need your team to cooperate to support one another. Thus, a candidate for this course should also possess this skill.
2. Analytical abilities:
The program includes executing projects, attending industry events, and interacting with industry leaders; for which analytical skills, problem-solving aptitude, and performance standards are all required.
3. Industry expertise:
Challenges vary according to the industry. To understand the finer concepts of running hospitals and healthcare centers, prior knowledge of the healthcare industry is advantageous.
4. Communication skills:
Health care is one of several industries in which verbal and non-verbal communication is crucial. Interacting calmly and cordially with patients and their families is a major prerequisite for people interested in this field.
5. Ability to handle pressure:
A hospital administration would face several critical situations. The Coronavirus pandemic, for example, was extremely challenging for administrators. A candidate for an MBA in the healthcare domain is therefore expected to possess this quality.
MBA in Hospital Administration: Syllabus & Subjects
In this program, you will gain a deep understanding of the hospital industry. You will learn how to manage hospital businesses and practices that are associated with them. The topics covered thus aim to give the candidate a thorough understanding of multiple aspects.
This course covers the following topics:
- Principles of Management
- Essentials of Healthcare Administration
- Fundamentals of Communication
- Quality Management in Hospitals
- Marketing Management
- Hospital Operation
- Financial Accounting
- Planning & Designing of Healthcare Facilities
- Managerial Economics
- Customer-Centric Organization (CCO)
- Cost Accounting
- HR in Hospitals
- Innovation Management
- Revenue Cycle Management in Healthcare
- Quantitative Techniques
- Legal Aspects of Healthcare
- Strategic Management
- Material Management
- Human Resource Management
- Healthcare Equipment Management
Career & Jobs Opportunities After MBA in Hospital Administration
The program aims to prepare students for a wide range of careers in the healthcare industry. Professionals can work both in the public and private sectors. By obtaining this degree, one may take on consultant positions that allows great flexibility and the ability to make connections.
You can find top jobs in hospitals and healthcare facilities with an MBA in Hospital Administration. Some of the popular professional avenues open to successful graduates of the course are:
- Hospital Manager
- Hospital Administrator
- Hospital CEO & CFO
- Healthcare Associate
- Healthcare Finance manager
- Hospital Operations Executive
- Medical Practice Manager
- Medical Superintendent
- Medical and Health Service Manager
- Blood Bank Administrator
- Medical Director
Scope of MBA in Hospital Administration
In response to the growing trend of Medical Tourism, more patients from around the globe have sought treatment. Due to this, there is an increased need for medical facilities, which offers a range of opportunities for MBA students looking to pursue Hospital Administration. Moreover, as long as the healthcare industry remains unresolved, the demand for good managers in the healthcare industry will continue to rise. Therefore, the MBA in Hospital Administration program is designed for executives and administrators. Graduates of the MBA in Hospital Administration program are placed in sectors such as consultancy, diagnostics, hospitals, insurance, information technology, medical equipment, pharmaceuticals, non-profits, and clinical research labs.
MBA in Hospital Administration is essential for those seeking senior executive positions in the healthcare industry. This course covers business management topics, healthcare specialization topics and managerial studies. The program thus provides candidates with the necessary skills to advance quickly in their careers.
A few highlights are as follows:
- Healthcare professionals with MBAs tend to earn about Rs 5 lakh annually.
- A placement in a top pharmaceutical company or hospital group is guaranteed.
- Increasing demand for healthcare managers with high levels of expertise
- Excellent career opportunities
Master degree holders can further pursue a PhD within the same field. In pursuit of higher-paying jobs, students can expand their skills even further.
Scope of MBA Hospital Administration in Government Sector
In both public and private hospitals, this qualification makes you an ideal candidate. At the state health department, various top positions are filled with management professionals. Besides occupying ministerial positions, these candidates are in high demand for running government-run hospitals. This group of individuals is crucial in ensuring that the hospital program runs efficiently.
Top 10 Recruiters for MBA in Hospital Administration Graduates in India
In India, the majority of the healthcare centres and pharmaceutical companies are on the lookout for professionals with the skills and knowledge needed to run them. In most cases, they are hired for managerial or executive positions.
Let's examine some of the top companies that hire MBA in Hospital Administration graduates:
- Fortis
- Apollo
- Max Healthcare
- Narayana Health
- Columbia Asia
- Apollo Hospitals
- Max Hospitals
- Ranbaxy
- Sun Pharma
- Dabur India
Top Recruiting Industries After MBA in Hospital Administration
The degree focuses primarily on the healthcare sector. A spike in hiring has been observed in healthcare organizations due to the current urgency of the situation. Therefore, every hospital must have a half-dozen top-level management professionals. Each of these positions is critical to the management team, which is why companies are always searching for qualified candidates.
In this blog, we have now learned about the various aspects of this course, so let's go through the career paths that would be possible with it. Mentioned below are the top recruiting industries that provide some of the best career opportunities after an MBA in Hospital Administration:
- Rehabilitation facilities
- Ambulatory care centres
- Group medical practices
- Hospices
- Outpatient care facilities
- Physician offices
- Residential care facilities
- Managed care organizations
MBA in Hospital Administration: Interview Questions and Answers for Fresher’s
Before an interview, you should do some research. Below are examples of answers to each question. The only purpose of these questions is to give you an understanding of the type of answer to provide.
- How do you envision the future of health care?
The pandemic has made the world realize the importance of virtual care. I believe healthcare professionals will be more able to give patients effective care if they use digital technologies such as robotics, machine learning, and collaborative apps.
2. What motivated you to pursue a career in healthcare?
Seeing sick people when I was a teenager disheartened me. Many times, as a result of incorrect diagnosis and treatment, things ended up getting worse. It made me realize how important it is to receive the right medical treatment. Since then, I've felt a strong desire to help others. That is why I am interested in healthcare. Helping people and making a difference is what I am passionate about.
3. What makes you the right person for the job?
I am a good candidate for your mission of putting patients first. Using this approach would be the ideal way to deliver healthcare. Working with the poor and under-served populations assisted in broadening my perspective. I am capable of working effectively both alone and in a team. Furthermore, I can demonstrate strong leadership skills to lead and manage a team whenever necessary.
4. As a healthcare professional, what will you do to change the world?
My goal as a healthcare professional is to improve access to medical services for underprivileged communities in society, making a difference in the world. In the future, I hope to volunteer in community clinics and remote areas where residents have no access to even basic healthcare facilities.
5. What are your strategies for handling stressful situations?
As far as managing stressful situations goes, I tend to do quite well. Initially, I analyze the situation to identify what I can control immediately. Following that, I formulate a strategy to put things back in order.
Courses to Do After MBA in Hospital Administration
The MBA in Hospital Administration is designed to impart niche skills to incumbents in the field of hospital administration. But candidates who want to acquire have excellent interaction skills and relationship structure abilities to accomplish a superior position in this sector can opt for advanced level and exceptionally rewarding courses & certifications.
MBA in Hospital Administration: Related FAQS
FAQs
What can I do after MBA in hospital administration?
Students who plan to enroll in a course in this field have a variety of career options available to them. For ex: Hospital Manager, Hospital Administrator, Hospital CEO & CFO, Healthcare Associate etc.
Can you work in a hospital with MBA?
Almost all MBA graduates with a hospital administration background work for large group practices, rehabilitation facilities, community hospitals, and outpatient clinics. They must be flexible with timings as healthcare is a 24/7 industry and may therefore require their services at any time.
Is an MBA in healthcare administration worth it?
Obtaining an MBA Healthcare administration Is a great option if you have a life science background like MBBS, BDS, BAM or B.Pharm.
How do I become a hospital manager?
Hospital Management applicants must hold a graduation degree with a minimum of 50% marks. The must qualify at least one MBA entrance exam such as the CAT, XAT, MAT, GMAT or university level entrance exam.
Is Health Administration a good career?
For those seeking a career that makes a difference, healthcare administration can be a fulfilling career. Besides, the salaries are booming, with plenty of promotion potential if you choose to pick a career in Health Administration.
Is there any entrance exam for hospital management?
There are national level entrance exams such as CAT, MAT and XAT. Also, you can apply for university entrance exams
Which course is best for hospital management?
There are numerous courses for Hospital Management depending upon what your career goal is. But you can choose to enroll for MBA in Hospital Administration as it is one of the most demanding courses in today’s times.
Wrapping Up!
Health care is experiencing a boom, and with that boom, job opportunities are increasing. Despite the need for senior executives, there is a shortage of skilled professionals. In this program, students gain the skills and knowledge to establish a successful career in the healthcare sector. As a graduate, you will have deep insight into the sector and its operations. With this, you'll have an edge over your competitors. There is therefore a need to bring attention to MBA in Hospital Administration and its crucial role in churning out candidates suited for these roles. It is the perfect time for graduates and other professionals to enroll in this program.
In addition, an MBA in Hospital Administration can help you get a foothold in the IT aspects of healthcare, such as data security.
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