If you're interested in the organizational and support side of the healthcare industry, a Master of Healthcare Administration (i.e., an MHA degree) represents a versatile qualification that opens doors. And with the healthcare industry booming, we're talking a lot of doors. Employment in this field should grow by almost 30 percent between 2021 and 2031.
More than 20 million Americans worked in healthcare in 2021, according to the Bureau of Labor Statistics (BLS). That places it second only to professional and business services among the nation's largest employment sectors. An aging U.S. population requiring greater levels of care all but ensures the healthcare job market will continue to expand.
According to the BLS, healthcare should add another 2 million jobs between 2021 and 2031, accounting for more than one in six jobs. These jobs pay well; again according to the BLS, the average medical and health services manager earns over $100,000 in median annual wages. The top 10 percent in this field earn over $200,000 a year.
Healthcare administrators hold leadership roles, ensuring hospitals and other large healthcare organizations operate efficiently while maintaining the highest possible level of service. With an MHA degree, you’ll develop expertise in key areas of management, preparing you for healthcare administrative jobs with many different kinds of institutions and agencies. You'll also gain leadership skills.
If you’re a natural-born leader with an interest in healthcare, you’re smart to consider a master’s in healthcare. Here are seven significant benefits of an MHA degree.
An MHA degree prepares you for an impressive number of healthcare jobs—like being a quality management director at a hospital, a nursing home administrator, or a medical practice manager. People with a Master of healthcare Administration are qualified for everything from high-profile C-level positions to technical management roles.
While it’s obvious that a master’s in healthcare administration will help you find healthcare jobs, there are many healthcare administration careers that might surprise you. For example, an MHA degree prepares you to work in healthcare IT and insurance underwriting, or as a patient health advocate. You can even work overseas with an international public health organization.
Healthcare administrators work in such varied settings as hospitals, physicians’ offices, nursing and residential care facilities, outpatient care centers, and government agencies. If you’d rather work in an office than a hospital, healthcare administration will allow you that flexibility.
According to PayScale, people with an MHA degree earn an average salary of $81,000 per year. Higher-paying jobs for this degree include healthcare consultant ($89,000), director of operations ($102,000), executive director ($108,000), vice president of operations ($144,000), and chief executive officer ($168,000).
Because the healthcare industry is growing so quickly, there will be no shortage of healthcare administration jobs in the years to come. In fact, the Bureau of Labor Statistics predicts that job prospects for health services managers will increase 28 percent through 2031, about four times the growth rate of the job market as a whole.
Just because healthcare administrators don’t wear stethoscopes doesn’t mean they don’t play an essential role in saving lives. The medical field would grind to a halt without skilled administrators and managers. Patients depend on these behind-the-scenes professionals to ensure everything runs smoothly towards the best possible care.
The healthcare industry is on the cusp of big change. The digitization of health data is becoming standard practice, and new healthcare IT solutions are coming to market all the time. Health informatics is driving changes that improve health outcomes while reducing costs. Innovation is accelerating, and healthcare administrators are leading these cutting-edge developments.
In summary, a master’s in healthcare administration is a growing job market offering incredible earning potential, robust career opportunities, and truly meaningful work. With an MHA degree, you’ll be positioned for serious leadership roles, with a front-row seat to boundary-breaking innovation. Sounds like a win-win-win.
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