This article provides an overview of the MSN MBA dual degree program, some of the subjects and courses that the program covers, and why this could be a good option to achieve greater career advancement. It also presents a high-quality MSN MBA dual degree program that can be completed online.
What Is an MSN MBA Dual Degree?
The MSN MBA dual degree is one that combines the scientific and clinical skills of the nursing profession, with those required for business administration and management. Graduates are prepared to take on positions of mid- to senior leadership in any type of health care setting, including the government. The coursework is usually concurrent and integrated, which means that it looks at group management skills, interpersonal management skills, problem solving, and leadership competencies, while at the same time enabling you to work with managers and leaders within the business of health care.
Why Earn an MSN MBA Dual Degree?
During an MSN MBA dual degree program, you will be equipped with the skills required to take on positions of leadership within entrepreneurial ventures, pharmaceutical companies, medical supply companies, private practice, home health, community health, public health, surgical centers, ambulatory enters, and hospitals. Furthermore, you could decide to move into the field of policy, quality assurance, or information management.
The field of health care has gone through significant changes that started long before the implementation of the Affordable Care Act. With the new Donald Trump Administration, it is not clear how the industry will further be affected by even more changes. What is clear, however, is that health care is a business, and one that has to meet financial and operational demands, while at the same time focusing on positive outcomes for people. This means that there is a real need for professionals who understand both facets of the industry as a whole.
The U.S. Bureau of Labor Statistics (BLS) has reported that medical and health services managers had a median salary of $96,540 per year as of May 2016. However, this is at the bachelor’s degree level. Those with a graduate degree or above are more likely to find themselves in the top 10% of earners, who earn $172,240 per year or more. The BLS has also reported that there will be a 17% increase in demand for these professionals from 2014 to 2024, which is much faster than the national average and will translate into some 56,300 new jobs.
Online Option for MSN MBA Dual Degree
Indiana Wesleyan University
If you are interested in an MSN MBA dual degree, then you may want to consider the program the MSN/MBA degree program of the School of Nursing of Indiana Wesleyan University. The degree meets the requirements as set by the American Association of Colleges of Nursing’s Essentials of Master’s Education in Nursing. Graduates can also become certified by various credentialing bodies. What makes the program so unique, is that it offers multiple majors. These are:
- The MSN/MBA degree program, whereby students also complete a master of business administration degree, which prepares them to become principle-centered, knowledgeable nurse administrators, for which there is a global need. Graduates are expected to become ethically and fiscally sound nurse leaders and the curriculum emphasizes the application and integration of knowledge to the quantitative and qualitative skills needed for the nurse administrators in today’s health care world.
- The MSN post MBA program, which is for those who already hold an MBA and also want to complete an MSN in an accelerated way. The degree aims to develop sound personnel and fiscal managers who can effectively steward the available resources in health care facilities. This degree does require a practicum for graduation, while also focusing on role development, finances, and organizational behavior.
Graduates for either major are prepared to take on positions of leadership in any health care setting. The programs are convenient and relevant and can be completed in an accelerated manner. Mutual support is provided by and to cohort members. All classes are delivered online and faculty are all experienced professionals with a dedication to the welfare of their students and their academics.
The university is accredited by the Higher Learning Commission (HLC). Furthermore, it is a member of the North Central Association of Colleges and Schools (NCACS). It is also a member of the Council for Christian Colleges and Universities (CCCU). The degree, meanwhile, is accredited by the Commission on Collegiate Nursing Education (CCNE), while also being a member of the National Organization of Nurse Practitioner Faculties (NONPF) and the American Association of Colleges of Nursing (AACN).
The core curriculum varies depending on which major a student has chosen. Those who go for the MSN/MBA dual degree program take part in:
- Evidence Based Communication
- Applied Management Theory
- Introduction to Professional Development for Advanced Practice in Nursing Administration
- Interdisciplinary Professional Development
- Theoretical Foundations for Advanced Nursing Practice
- Statistics for Business Decision-Making
- Utilization of Research for Evidence Based Practice
- Health Care Principles and Policies
- Professional Role Development for the Nurse Administrator
- Ethical and Legal Aspects of Management
- Decision-Making and Essentials of Business Communication
- Management of Health Care Delivery Systems
- Leadership and Organizational Change
- Nursing Leadership and Human Resources
- Accounting and Finance for Managers
- Organization and Finance of Health Care
- Business Economics
- Managerial Accounting
- Business Strategy and Policy
- Advanced Nursing Management
- Integration of Theory Into Nursing Administration Practice
Those who go for the MSN post MBA will take part in:
- Evidence Based Communication
- Introduction to Professional Development for Advanced Practice in Nursing Administration
- Theoretical Foundations for Advanced Nursing Practice
- Utilization of Research for Evidence Based Practice
- Introduction to Interprofessional Collaboration
- Management of Health Care Delivery Systems
- Evidence Based Practice in Nursing Administration
- Nursing Leadership and Human Resources
- Advanced Nursing Management
- Integration of Theory Into Nursing Administration
Those who complete the MSN MBA dual degree can take on a variety of different positions. Those include:
- Nurse leader
- Nurse administrator
- Hospital administrator
- Medical facility administrator
- Medical insurance administrator
Summary
As you can see, by completing an MSN MBA dual degree, you have an opportunity to significantly advance you career in a field relating to both health care and business. While health care is about delivering excellent outcomes for patients, it is a business and it has its own significant financial constraints. This means that there is a need for those who both have the compassion and caring nature to want to achieve the best health outcomes, but also for those who have the business skills to ensure care is delivered within budget at all times. By completing an MSN MBA, that is exactly the type of professional that you will become. It will usually take you outside of the clinical care field and into the administration and management field. However, you will be able to play a significant role in policy development and in improving outcomes across the board.
References
- Medical and Health Services Managers. (2015, Dec. 17). Retrieved from https://www.bls.gov/ooh/management/medical-and-health-services-managers.htm
- MS Nursing – MBA. (n.d.). Retrieved from https://www.indwes.edu/adult-graduate/programs/msn-mba/
