Considering an Online Healthcare MBA? Read this first.

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Nedda Gilbert February 20, 2019

Look for professors with real-world experience and connections.

In this course, participants learn core principles, concepts, and methods of continuous improvement and explore the history of continuous improvement efforts. In a series of lectures, Master Black Belt in Six Sigma Shane Wentz, Ph.D., enables learners to enhance, optimize, and stabilize business processes and to augment quality control through varied methodologies. Participants gain the skills and knowledge to reimagine internal processes, engage in advanced problem-solving, and empower employees. The course covers high-level foundational principles of Lean, Six Sigma, and DMAIC processes before diving deep into Lean Six Sigma methods. Learners will analyze the tools of process mapping, Kaizen (a continuous improvement method/tool deemed a prerequisite for Lean transformation success), Lean (a continuous improvement philosophy that emphasizes streamlined workflows and reducing waste), and the process improvement methodology driving DMAIC: Define, Measure, Analyze, Improve, and Control.

Entrepreneurs fostering new ventures outside of well-developed entrepreneurial ecosystems like Silicon Valley face significant challenges. These markets are unlike Silicon Valley, and they will likely remain so. That doesn't mean they can't nurture and sustain new businesses. In transitioning markets that lack abundant private sector financing, creative approaches from government officials, donors, and business leaders can fill the void to support entrepreneurial activity. Northeast Ohio (where Cleveland and Case Western Reserve University are located) has become a laboratory for such innovative solutions. During our time together in this course, we will explore some of these creative approaches to promoting regional entrepreneurship. Northeast Ohio has seen a massive infusion of government and donor resources for over ten years. In that time, Northeast Ohio has promoted regional development (including job creation and follow-on funding) through alternative methods of financing startups. It has not been easy. The region has made progress, but it remains to be seen whether it has struck upon an enduring formula. A dynamic entrepreneurial ecosystem takes many years, even decades, to develop. Government policymakers and donors typically seek quicker returns on their support programs, which makes long-term support for entrepreneurship challenging. This course includes case studies and first-person testimonials from entrepreneurs who have launched products and services ranging from medical devices to LED lights to whiskey. You will learn how these entrepreneurs discovered and procured resources from various programs and intermediary organizations. You will hear from business people still in the process of developing their companies as well as those whose ventures have flourished. Our focus will extend beyond Cleveland to selected markets around the world, including Greece, Vietnam, Tunisia, Argentina, Rwanda and China. You will learn about international incentives and other supports available to developing startups and small businesses across the globe. This course examines how different communities around the world approach implementing strategies and methods to support businesses. I will ask you to reflect on how to apply the principles we learn to growing entrepreneurship where you live. The social interactive features of the online platform will enable students from around the world to share ideas and learn from one another. Most MOOCs rebroadcast professors’ lectures; this course is different. Don’t expect to see me standing in front of the camera, talking and lecturing every module. Instead, the lectures will be relatively short in length. They have more of the feel of an engaging documentary than a static classroom setting. ## __What type of person takes the *Beyond Silicon Valley* course?__ - Active and aspiring businesspeople in communities looking to initiate new startup ecosystems or bolster existing ones - Current and prospective entrepreneurs who want to learn about funding sources, risk management, and the lifecycle of startups - Professionals who work in government agencies, nongovernmental organizations, philanthropic institutions, and various private funds that fund startups - Anyone curious about how to create and grow startup ecosystems outside the major tech hubs - The principles Beyond Silicon Valley teaches have been drawn from and applied to startups worldwide, from small villages to megalopolises. You'll study success stories spanning the globe from Vietnam to Kosovo to Botswana. ## __What will you learn in *Beyond Silicon Valley*?__ - How and where startups can find funding to get their businesses off the ground - What role government can play in encouraging startups and a healthy startup ecosystem - How anchor institutions such as universities and healthcare systems participate in startup ecosystems - How nongovernmental organizations support startups - How to raise funds from venture capitalists, angel investors, and accelerators - How to navigate challenging periods in the startup lifecycle - The importance of mentoring in successful startups

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Taking notice that the job market for healthcare is rapidly growing, many people who decide to pursue an MBA in healthcare management do so because of the career opportunity. Often, these MBA candidates worked in healthcare before earning their degree—or are doing both simultaneously. For these students, earning an online MBA in healthcare management offers convenience, flexibility, and the ability to advance their careers without sacrificing their income.

What’s driving MBA specializations in healthcare?

In the United States, there is a growing need to address the physical, mental and healthcare demands of an aging population. Last year, The Atlantic identified the healthcare industry as the nation’s largest employer. According to the Bureau of Labor Statistics, the job market for healthcare and medical services will experience a 20 percent increase by 2026. Because business and healthcare are intertwined in the U.S. medical system, there is already ample opportunity for healthcare MBAs.

Career opportunities may include work in any of the following areas:

Free-standing ambulatory, surgical, or orthopedic centers
Specialized cancer institutions
Hospital conglomerates
Insurance firms
Large specialty practices
Governmental agencies
Pharmaceutical or biotech companies
Consulting firms

What to consider when choosing between online MBA Healthcare Management programs

The curriculum. To choose an online MBA in healthcare program, look closely at the curriculum for that specialization. In addition to the general management curriculum of business school, healthcare management MBAs study strategic planning, health economics, management, policy, and other healthcare-related topics. An online healthcare MBA program should also provide business management courses including business law and compliance, organizational leadership, and corporate ethics.

Who’s teaching? Beyond reviewing the curricula of prospective schools, also consider who will be teaching your courses. Specialized programs are often lead by an interdisciplinary faculty made up of business instructors as well as those who work in law, medicine, nursing, and other behavioral sciences. As someone who will be entering a collaborative field, you will likely find these varying perspectives to be hugely beneficial. You might also look for professors who bring real-world experience and connections into your online healthcare MBA classroom.

How will you learn? Most healthcare MBA programs have connections to local institutions and hospitals, allowing students substantive in-the-field learning opportunities—such as practicum coursework and even direct clinical experience. Keep fieldwork opportunities in mind as you select your online healthcare MBA program.

__(Check this out: Think About MBA Accreditation Like You'd Think About Buying Groceries (Kind Of))__

Look for accredited programs. It’s important to choose an accredited program for your MBA in Healthcare Management. Accreditation acts as a sort of guarantee, certifying that a program’s curriculum, coursework, and faculty have all reached an agreed-upon standard of quality. This is important not only for your graduate school experience, but also for your resumé; when applying for jobs, you will want to show employers that you attended an accredited—read, high quality—online healthcare MBA program. The two main accreditations to look out for are from the Association to Advance Collegiate Schools of Business (AACSB) and the Accreditation Council for Business Schools and Programs (AABSP). Either accreditation will signal that a program that has met high standards.

Know the alumni. A strong alumni base is important when selecting an online Healthcare MBA. Traditionally, business school alumni groups offer substantial career supports and guidance. Healthcare graduates also rely on alumni organizations for mentorship and job opportunities. As you weigh programs, keep alumni organizations top-of-mind. Those who came before will help you bridge the gap between school and the professional world.

What does management and leadership mean in healthcare?

Containing costs and improving medical services are among the most urgent priorities in healthcare today—and managing those priorities requires not just business savvy, but an understanding of the best practices to impact healthcare in a positive manner. More than any other profession, MBAs are poised to meet the leadership and management challenges of healthcare in the United States. With their knowledge of business operations, analytics, marketing, and communication, these degree-holders are uniquely qualified to solve some of the critical problems facing hospitals and other healthcare entities.

If you want to make a difference in the medical field, an online healthcare MBA program will allow you to build dual expertise in business and medicine while benefiting from the flexibility of online study.