October 24, 2017

 

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What Is An Executive Master of Business Administration in Healthcare Management and How Does It Differ from a Traditional MBA?

Executive Master of Business Administration (EMBA) in Healthcare is a more advanced level of Master’s Degree that is designed specifically for those who are already employed as mid-level career executives. The curriculum in Healthcare MBA programs focuses on building business expertise while also instilling specific healthcare knowledge that is essential to development as an executive leader in healthcare. Different levels of management have different needs and an Executive MBA is usually targeted for the older, more experienced professional wanting to enhance their proficiency in functional management and to enhance their management skills. An MBA in Healthcare emphasizes content in core disciplines of management as it applies to healthcare, the Executive MBA assumes a basic competence in the fundamentals of business and emphasizes procedure, insight and the applying new learning. The main differences between a more traditional MBA and an Executive MBA are job and program structure.

Who Are Pursuing Executive MBA’s in Healthcare

Many Executive MBA students are those often identified as potential leaders at their companies. Many program require future students to have at least five years of professional work experience and if applying to the healthcare program, this experience should be in the healthcare industry. This allows working professionals to pursue their education while still working full time and often their employers will cover all or part of the tuition. Business leaders can earn an EMBA while still working full time. Courses often focus on leadership skills, teamwork and professional development.

Can Anyone Apply to These Programs?

Generally anyone with an undergraduate degree from an accredited institution and depending on the specific program, at least five years of experience in either a business or healthcare environment. Some Executive MBA programs require up to eight years of advanced business experience. It is important to understand the requirements for each program.

What Are The Benefits of Pursuing an Executive MBA in Healthcare?

Executive MBA programs rank higher than full and part time MBA programs as studies indicate in a recent survey of 200 colleges by the Graduate Management Admissions Council. One of the biggest advantages of the Executive MBA is the flexibility in learning style. Business leaders can earn an EMBA while still working full time. Courses often focus on leadership skills, teamwork and professional development. EMBA students typically complete the degree part-time in between 12 and 18 months. Students will obtain management and strategic tools that they can implement in their current organizations immediately. One of the major emphases of these programs is problem solving, therefore students take valuable core course work in management, team building, strategy, marketing and entrepreneurship. While in a traditional MBA program students learn the fundamentals of business, an executive MBA program allows students the knowledge and skills to apply business concepts into their organizations and become more effective leaders.

An executive MBA in Healthcare program provides midcareer professionals the ability to climb the corporate ladder and advance to an Executive Management Position in Healthcare. Salaries for those with Executive MBA range widely depending on the job title and experience. Some of the top paying positions for those with an Executive MBA can include Hospital CEO with a median average salary of $166,000 and Hospital Administrator with a mean average salary of $135,000.

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