This website is designed to help anyone who wants a comprehensive resource about master’s degrees in healthcare management. Students can use it if they are interested in earning their master’s degree, and anyone who wants information about a healthcare master’s degree can find plenty of information here. The Master of Science in Healthcare Management (MSHM) is a commonly sought degree, and may go by similar but slightly different names at different universities.
Interested visitors to this site can use it to find some of the top MSHM programs throughout the US, and can learn about salaries, job demand, career options, and how they might be able to get some help paying for their schooling. There are many scholarships, grants, loans, internships, fellowships, and other opportunities that can be used by anyone who wants to get an MSHM degree.
These types of degrees are very valuable, as healthcare is a growing industry that will likely continue to need plenty of employees in the future. It can be highly worthwhile to obtain an MSHM degree, and can allow you to move into a more managerial position if you would prefer not to have a job that requires a significant level of interaction with patients or would prefer a more structured job with a higher salary range.
There are a number of skills that students will develop through their study in the MSHM program, including:
- Organizational management
- Public and nonprofit finance
- Human resources
- Healthcare management
- Strategic communication
- Program and policy evaluation
- Hospital operations
- Healthcare law
Students are also able to request free information about MSHM programs and a number of universities that offer them, so they can research which university they might want to attend to get the degree they are really looking for. We appreciate your visit to this site, and would encourage you to contact us if you have questions, or if we can be of further assistance.
Healthcare Management Degree Overview
A Master of Science in Healthcare Management (MSHM) degree is a professional graduate degree, and is very desirable for those who are interested in working in the healthcare field. While many people enjoy hands-on patient care, that is not for everyone. For students who want to be in the management side of healthcare, the MSHM can be an excellent choice to move them along their desired career path.
An MSHM degree most often focuses on organizational management in a healthcare setting, along with the administrative duties and finance goals that may come along with that particular career. Many MSHM programs offer concentrations, such as nonprofit management or management of a particular area of a healthcare facility. While this can be the case, there are also degrees that are designed to be overviews of healthcare management. These will equip the student for many different opportunities, and generally take approximately two years to complete.
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Reasons to Earn a Healthcare Management Degree
Working in healthcare can be a profitable and deeply rewarding career. It can also be a lot of work for pay that can be lower than what would be seen for management level employees in other fields. Healthcare has traditionally had a reputation for low pay based on the level of work, but management has escaped some of that – which is more commonly seen in the lower levels of healthcare employment. Despite the potential for low comparative pay, the salaries offered to healthcare managers are generally very reasonable from a cost of living standpoint, and the benefits can be good, as well.
The Bureau of Labor Statistics reports that an expected median salary for healthcare management is approximately $88,000 per year based on a bachelor’s degree. Those with a master’s degree, and those working in management in practices with a significant number of doctors and other employees can be expected to make much more. The BLS also reports that jobs in the healthcare management field are expected to increase 22% by 2022.
Healthcare Management Course Requirements
Some of the common classes you will be required to take for a healthcare management graduate program are:
- Healthcare policy analysis
- Issues and cases in healthcare management
- Organizational behavior and leadership
- Healthcare budgeting and accounting
- Finance and accounting
- Managerial accounting
- Financial management
Most professionals who apply to a MSHM graduate program already have degrees in healthcare. They may have also worked in the field for some time, and want to move into a management position.
Healthcare Management Career Outlook
As stated above, the BLS reports that job growth for healthcare managers will be as much as 22% through 2022. There will be more jobs available than people to fill them in many cases, in keeping with the way in which healthcare has been a rapidly growing industry in recent years.
Here are some of the careers that are generally pursued by MSHM graduates:
- Healthcare Manager, Hospital — The manager of a hospital oversees nearly every area of that healthcare facility, from the development of programs to the marketing of the organization and the recruiting of skilled professionals to work there. The salary range is often $150,000 or more, based on the sheer effort and scope of the work that is required from the manager of an organization that size.
- Healthcare Manager, Clinic — A clinic manager will have fewer responsibilities than a hospital manager, but will perform many of the same duties. Much of the difference between the two will be based on the size of the organization, and the lack of need for in-patient programs at a clinic versus what would be seen at a hospital.
- Nursing Home Management — A nursing home provides a completely different type of atmosphere from a hospital, and also provides an entirely new set of challenges. With that in mind, a nursing home management career can be highly rewarding, and can improve the lives of patients and their families when the facility is managed in a way that takes excellent care of residents.
- Healthcare Manager, Group Practice — A healthcare manager in a group practice manages and supervises medical services for a small group of physicians who all practice in a set location. These managers are not as busy as they would be in a hospital or clinic, and that allows them to give more personalized service to their employees and the patients who come through their doors. They may work for public, private, or even nonprofit healthcare organizations. The median annual wage for a healthcare manager in a group practice situation is around $84,000.
- Home Healthcare Organization Management — A home healthcare organization manager is responsible for coordinating day-long, overnight, and live-in caregivers, as well as those who only see their patients for a few hours per day, only on set days, or only on an on-call basis. By coordinating all of these individuals, proper patient care is ensured. Depending on the size of the home healthcare organization and the number of patients it serves, managers at these facilities can be quite busy with scheduling and other, related issues.
These are only a few of the career opportunities open to MSHM graduates. Any managerial job that requires knowledge of healthcare is going to be a good choice for these graduates. It will simply come down to whether they want to work in a hospital, or whether they would prefer to work in a different type of facility. What is available in their area and what aspects of healthcare and management interest them will all matter, and should be carefully considered by anyone working toward an MSHM degree.
Healthcare Management Financial Aid
There are plenty of good ways for you to fund your MSHM degree. You can choose one of the methods below or something different, but remember that many schools have a number of different options you can consider when you need help to pay for your education.
- Johns Hopkins Carey Business School Scholarships
- Oregon Health & Science University Scholarships
- Rockhurst University Financial Aid
Resources for Students
- American Association of Healthcare Administrative Management
- American College of Healthcare Executives
- Health Care Administrators Association
- 50 Best Careers to Get with a Master’s Degree
- How to Choose the Best Graduate Degree Online
- List of 8 Accredited Self Paced Online Colleges
- 50 Awesome Things You Can Do with a MHA Degree
- Top 10 Online Medical Degrees with No GRE Requirement
- Different Types of Healthcare Degrees
- Why Get a Masters in Health Informatics