Healthcare management is one of the fastest growing and in demand careers in 2023. Many working professionals are returning to online education to earn their healthcare management masters degree. There are now fully funded online healthcare management masters degrees to help ease the demand of the healthcare industry. To see options for fully funded healthcare management masters degrees, start an online search now.
Benefits of Studying Healthcare Management at the Master’s Level
By obtaining a master’s degree in healthcare management, you can gain in-depth knowledge and skills that are essential for advancing your career in this field. Other benefits include:
- Career Advancement: With advanced knowledge in healthcare policy, economics, finance, and leadership, you can qualify for roles such as hospital administrator, healthcare consultant, or executive in healthcare organizations.
- Increased Earning Potential: According to the U.S. Bureau of Labor Statistics, the median annual wage for medical and health services managers was $101,340 in the past years.1 Holding a master’s degree in healthcare management can significantly increase your earning potential and help you earn a higher salary compared to those with only a bachelor’s degree.
- Industry Specialization: Healthcare management is a complex and dynamic field that requires expertise in various areas. A master’s degree program allows you to specialize in a specific area of healthcare management, such as healthcare finance, healthcare informatics, or healthcare policy.
Fully Funded Online Courses for Healthcare Management Masters
Traditionally, pursuing a master’s degree in healthcare management may involve significant financial investment. However, there are now fully funded online courses available that make obtaining a healthcare management master’s degree more accessible and affordable.
- Cost-Effective: Fully funded online courses eliminate the need for hefty tuition fees, making them a cost-effective option for aspiring healthcare managers. These programs are often sponsored by universities, governments, or other organizations, which cover the tuition costs, textbooks, and other related expenses.
- Flexibility: Online courses offer the flexibility to study at your own pace and from the comfort of your own home. This can be particularly beneficial for individuals who are already working or have other commitments, such as family or personal responsibilities.
- Access to Resources: Provide access to a wide range of resources, including course materials, online libraries, and academic support services. This ensures that you have all the necessary tools and support to succeed in your studies and make the most out of your learning experience.
An Emerging Industry with High Employment Prospects
As healthcare organizations strive to deliver high-quality care, healthcare managers who are skilled in quality improvement and patient experience management will be in demand. According to the Bureau of Labor Statistics (BLS), healthcare occupations are projected to grow by 15% from 2019 to 2029, which is much faster than the average for all occupations.2 This means that there will be a high demand for skilled healthcare managers who can lead and oversee various aspects of healthcare organizations. The aging population, advancements in technology, policy and regulatory changes, and a focus on quality and patient satisfaction are all driving the demand for skilled healthcare managers.
Are There Relevant Certifications?
There are several relevant certifications in the field of healthcare management that can enhance your credentials and increase your employment prospects such as:
- Certified Healthcare Manager (CHM): Offered by the Professional Association of Health Care Office Management (PAHCOM), the CHM certification is designed for healthcare managers who oversee the administrative and operational aspects of healthcare organizations.
- Fellow of the American College of Healthcare Executives (FACHE): A prestigious designation for healthcare executives who have achieved a high level of expertise and leadership in healthcare management. To be eligible for this certification, candidates must have a minimum of five years of healthcare management experience, hold a master’s degree or higher, and pass a comprehensive exam.2
- Certified Medical Manager (CMM): Offered by the Professional Association of Health Care Office Management (PAHCOM), the CMM certification is specifically for healthcare managers who oversee the administrative and operational aspects of medical practices.
- Certified in Healthcare Privacy and Security (CHPS): Offered by the American Health Information Management Association (AHIMA), the CHPS certification is for healthcare managers who specialize in health information privacy and security.
- Certified Professional in Healthcare Quality (CPHQ): The certification validates the knowledge and skills in areas such as quality measurement, performance improvement, patient safety, and data analysis.
It’s important to research and choose certifications that are reputable and relevant to your career goals and interests, and ensure that you meet the eligibility requirements before pursuing certification exams.
Study Healthcare Management Masters Online Today
Guaranteed, healthcare management is an emerging industry with high employment prospects, and pursuing a healthcare management master’s degree can be a wise investment in your future career! There are many benefits as you have discovered to why this opportunity of education is something not to miss out on. To see options for fully funded healthcare management masters degrees, start an online search now.