Master’s of Healthcare Management Concentrations
- Management Operations and Leadership
- Business Administration
- Health Financial Management
- Health Policy Analysis
- Health Information Technology
A healthcare management master’s degree can be very beneficial because it can lead to very lucrative jobs, and it offers several concentrations. Pursuing concentrations can help candidates not just earn higher wages but also make them more valuable and competitive in this field. Each of the concentrations includes the study of healthcare administration but then branches off into a specific specialization. Regardless of what specialization a candidate chooses, he or she will have an excellent employment outlook. Here are five healthcare master’s concentrations.
Management Operations and Leadership
The management operations and leadership concentration is generally chosen by individuals who have an interest in leading healthcare facilities, including medical clinics, hospitals, nursing homes, and private medical practices. The graduate of this concentration will have the knowledge and skills needed to manage healthcare facilities of all sizes and management skills to handle personnel and budget issues. Students complete coursework in information systems, budgeting, human resource management, financial management, and policies. This concentration prepares students for healthcare manager positions, which offers excellent salaries and job growth.
The business administration concentration provides students with a well-rounded education and the knowledge needed to deal with the day-to-day operations of a medical practice, hospital, clinic or any healthcare organization. This concentration teaches students how to balance the organization’s finances and still provide top-notch patient care. Graduates of the business administration concentration and the masters in healthcare management are qualified to work in not just healthcare facilities but also other large organizations in positions. It also prepares them for careers like health services manager, clinical manager or healthcare administrator.
Health Financial Management
Candidates who choose the health financial management concentration usually are interested in accounting, finances and financial planning for both long and short-term goals. Graduates of the health financial management concentration have the education to handle all part of an organization’s financial status. This also includes areas like bookkeeping, payroll, accounts payable, accounts receivable, and investment strategies. Although the concentration includes both management and accounting courses, most of them are geared towards healthcare.
Health Policy Analysis
Within every healthcare facility, health policy can be found, and this concentration helps students learn about the importance of understanding and analyzing health policies. Students who choose the healthcare policy analysis concentration typically find careers in healthcare facilities, but they also work in various other settings, including nonprofits, organizations, governments, hospitals and lobby groups, etc. This concentration teaches students how to study policies, write policies and project to the organization how the policies will affect the organization or the overall community. It also teaches them how to write technical documentation, analyze laws and understand statistics.
Health Information Technology
The health information technology concentration is similar to the health informatics in that it integrates information technology with healthcare management. Health informatics is important today because it helps IT professionals get a better understanding of healthcare administration, which helps them provide the best possible patient care. This concentration teaches IT specialists how to make it easier for healthcare professionals to get access to important patient information. It also teaches the healthcare administrator how to navigate through the various regulations and legal requirements involved with healthcare and patient care. Graduates of this concentration generally experience the potential for excellent wages and employment outlook.
With the emphasis on providing better healthcare to all patients, healthcare managers are very much in demand and can expect very good career growth. Employment growth of 18 percent is expected for medical and health services managers from 2018-2028 according to reports by the U.S. Bureau of Labor Statistics. Candidates who choose to focus on healthcare management concentrations typically see the best job and wage potential.