MBA in Healthcare Management vs. Master’s in Healthcare Administration (MHA): Which Is Right for You?
If you’re looking to enter the healthcare field as a manager or advance your current career in healthcare, you will likely encounter two degree options that may seem similar on the surface: an MBA in healthcare management and a master’s in healthcare administration. You may be wondering, “What are the differences, benefits or specializations available with an MBA in healthcare management vs. master’s in healthcare administration (MHA)?”
There are similarities between the two programs. Both degrees will prepare you to:
- Build executive-level business skills
- Understand how key business principles apply to the healthcare field
- Situate yourself for leadership positions and six-figure salaries
But the first major difference between an MBA in healthcare management and a master’s in healthcare administration is that the former offers you a much broader educational experience in general business leadership. An MHA, focuses on the healthcare industry and the curriculum focuses on leading a range of healthcare organizations. Let’s dive deeper into other differences between an MBA in healthcare management and an MHA.
What Can You Do With an MBA in Healthcare Management vs. Master’s in Healthcare Administration?
If you know that you want to work in the healthcare field and dedicate your knowledge and skills entirely to understanding healthcare strategy and operations, a master’s in healthcare administration may be right for you. High Point University’s master’s in healthcare administration emphasizes the skills to thrive in the healthcare field with competency-based courses in five domains including leadership, critical thinking and analysis, management, culture and community engagement, and communication.
If you know you want to work as a business leader in healthcare but still want the option to work in other industries, then an MBA in healthcare management might be the right choice. With an MBA in healthcare management from High Point University, you’ll build a solid foundation in business with courses on managerial accounting, organizational behavior and supply chain management. Then you will focus on broader topics specific to healthcare management responsibility.
- Healthcare system, health plan or medical company administrator
- Health insurance operations director
- Financial analyst
- Marketing manager
- Business operations manager
Healthcare administration degree programs provide specialized knowledge for leaders in healthcare settings. MHA graduates work in a range of healthcare settings. They often look for a professional environment aligned with their chosen specialty and enter healthcare leadership roles that rely on the communication and decision-making skills they learned in an MHA. Careers with an MHA include:
- Hospital or healthcare system CEO, vice president
- Practice manager
- Long-term care administrator
- Clinical director or chief medical officer
- Healthcare consulting
MBA in Healthcare Management vs. Master’s in Healthcare Administration: Job Outlook
We’ve answered, “What jobs can you get with a healthcare management degree?” Now, let’s answer your next question: “Why get an MBA in healthcare management or MHA?” The U.S. Bureau of Labor Statistics reports that employment of medical and health services managers is projected to grow 32% from 2020 to 2030, much faster than the average for all occupations. This is great for those wanting to enter healthcare as an executive — it means that the competency-based knowledge with an MHA degree in healthcare is enough to differentiate yourself in the job market.
On the other hand, having a strong foundation in business might help you bring a new perspective to healthcare leadership, and it would also give you the freedom to explore more leadership positions that overlap with healthcare and other industries, such as insurance.
With courses on fundamental skills and methods of general business leadership, an MBA in healthcare administration will expand your knowledge base, improve your critical thinking and communication skills and provide more opportunities to find a satisfying career.
MBA in Healthcare Management vs. Master’s in Healthcare Administration: Salary
Now let’s turn to the average master’s degree in healthcare management salary and the average salary for an MHA, as well as in the outlook for master’s in healthcare management jobs compared to other fields.
- According to Payscale, graduates with an MBA master’s degree in healthcare management or a Master’s in Healthcare Administration earns approximately $79,000–$83,000 on average each year.
- In the past 30 years, there has never been a downturn in employment in healthcare management.
- Growth for medical and health services managers jobs is projected at 32% through 2029, much faster than the average for all occupations, according to the U.S. Bureau of Labor Statistics.
