Are you a nurse who wants to develop advanced expertise in the business side of healthcare in preparation for leadership and administration roles? The 100% online Master of Business Administration (MBA) with a concentration in Healthcare Administration from University of Southern Indiana (USI) develops the skills you need to take the next step in your career. Graduates of the program bring their organizations a wide range of capabilities including identifying and mitigating risks, making data-driven decisions and setting organizational strategy from the perspective of a healthcare organization.
Healthcare Administration Skills Are in High Demand
The U.S. Bureau of Labor Statistics projects job growth for medical and health services managers at 28% for the next decade, much faster than average, with 136,200 expected jobs. The median pay is $101,340 per year as of September 2022. Since master’s degrees are common in the field and often preferred by employers for leadership and executive roles, the expected earnings with an advanced degree are higher than average.
Coursework in this specialized MBA program prepares graduates for a wide variety of leadership roles, including the following:
Laboratory Services Director: Average salary of $138,912
Those in this position supervise laboratory operations, including hiring and training personnel and oversee processes to ensure efficiency and safety. The laboratory services director plans and implements policies and procedures for lab services, writes manuals and liaisons with department directors and clinical hospital staff to ensure quality of service. The laboratory services director also develops budgets to support the functional infrastructure.
Health Information Manager: Average salary of $94,462
These professionals create and implement organizational policies and processes for healthcare organizations and lead organizational projects. The health information manager tracks the progress of the data quality management plan, oversees health records, investigates risk factors related to coding and documentation practices and provides reporting with data analytics. The role is also responsible for maintaining logs of activities, including inactivated and archived charts, records requests sent and received, coding errors, quality control measures, operating activities and coding errors.
Healthcare Executive: Average salary of $94,118
Individuals in this role perform a wide variety of functions that differ based on environment. Settings include hospitals, medical practices, clinics, healthcare associations, public health departments, pharmaceutical companies and universities. Healthcare executives often work closely with clinical and non-clinical professionals to ensure quality of care. They oversee operations and finance teams to meet the needs of patients, families and communities. Often, they serve as educational officials in the community when health issues arise and work with hospitals and healthcare organizations to provide accurate information and timely care to the public. In a public health department, they perform research and evaluation and planning and development services.
Hospital Administrator: Average salary of $252,205
Those in this position direct and oversee clinical hospital operations and perform executive planning functions for hospital staffing and service. The hospital administrator develops policies and processes to support organizational goals and patient needs and monitors progress and standards of service using data analytics to drive continuous improvement. Administrators serve various functions, including supervisory roles in administrative offices, overseeing clinical staff and monitoring financial operations. Some specialize in equipment and supply procurement, vendor management or staff relations. Experience, along with extensive education and comprehensive knowledge of the department’s functions, enable the hospital administrator to provide leadership.
Note: National salary information taken from Salary.com as of September 2022.
The Curriculum Develops Healthcare and Nursing Leaders
Coursework in USI’s program was developed by a leading faculty with extensive industry experience, with input from major area and regional employers. The courses, in particular, prepare graduates for high-level leadership roles upon graduation and throughout their careers:
Leadership Skills and Innovation focuses on organizational behavior issues and on developing a student’s professionalism in the following areas: oral, written and interpersonal communication, group dynamics, team building, creative problem solving, information and communication technology, change management skills and the roles of leaders in a dynamic work environment.
Data-Driven Decision-Making examines the role of business analytics in decision-making processes. Behavioral issues at the intersection of data-generated insights and persuasion will receive a prominent focus.
Lean Six Sigma (LSS) provides a broad understanding of LSS principles, concepts, language and methodology through exercises and case study applications. This is a modern approach to continuous improvement in high demand by healthcare employers.
The program offers a solid foundation in leadership skills, IT management, accounting and marketing, and students can complete the program in as few as 11 months. Many comparable graduate programs require two to three years of study. An advanced business degree in healthcare administration sets graduates up for success in many areas of the business and healthcare fields with in-demand skills.