What is MBA Healthcare Management?
MBA Healthcare Management is a 2-year course that focuses on making professionals for the healthcare industry. Aspirants who have a Bachelor's Degree in any discipline and an accumulated score of 50%, all from a nationally syndicated university, can apply for the course.
Admission to Top MBA Healthcare Management colleges in India like Chitkara University, Lovely Professional University, etc are generally offered after cracking popular MBA entrance exams. MBA Healthcare Management Admission Process is almost similar to that of MBA course.
Along with various projects and case studies, students willing to pursue this course will also have to study major MBA Healthcare Management subjects. Some of those are Essentials of Healthcare Administration, Hospital Operation, Quality Management in Hospitals, etc.
The average cost to study a full-time program of MBA Healthcare Management India ranges from INR 2 to 10 LPA.
Students can also go for MBA Healthcare Management distance learning offered by universities like Venkateshwara Open University, Anna University, etc. The cost to study this program from distance ranges from INR 30,000 to 1,00,000.
Once the course is done, graduates can expect a beginner salary of around INR 5.2 LPA from MBA Jobs in areas such as Healthcare Management, Hospital Administration, Medical Practice Manager, etc.
With the highest range of salary for these professionals going up to INR 12 LPA, some of the top recruiters of this field are Cipla, Apollo Life, Wipro GE Healthcare, Cadila Healthcare, etc.
After successfully completing this course, one can also consider to study further in the same field. A Ph.D. in Hospital Administration is one of the most popular degrees in this field. Studying further will not only bring ample opportunities, but will also offer recognition and better knowledge of the subject.
MBA Healthcare Management: Course Highlights
|Eligibility||Bachelor’s degree in any discipline with 50% aggregate marks|
|Admission process||Entrance exam conducted by colleges, GD & PI|
|Entrance Exams||CAT, MAT, XAT, GMAT, CMAT etc.|
|Course Fee||INR 2 to 10 LPA|
|Average salary||INR 5-12 LPA|
|Top Recruiting Companies||Cipla, Apollo Life, Wipro GE Healthcare, Cadila Healthcare, etc|
|Job Positions||Hospital Administrator, Healthcare Manager, Hospital CFO & CEO, Pharmaceutical Production Manager, Medical Practice Manager|
MBA Healthcare Management Admission Process
The selection process is different for colleges all across the country. The written exams are followed by rounds of Group Discussion and Personal Interview. Students are filtered out on the basis of their personality and basic technical knowledge.
The following steps are to be followed for MBA Healthcare Management Admission:
- Candidates willing to study this course need to apply for management entrances like CAT, MAT, GMAT, etc. However, certain colleges like Lovely Professional University, Chandigarh University, and a few more organize their own entrance examinations like LPUNEST and CUCET.
- After appearing for these entrances, the students are invited by the universities for other rounds of tests.
- Group Discussion- In the group discussion round one needs to present their views on the given topics that are current.
- Personal Interview- In this round students are asked about their past education, work experience if any, and future goals.
- Writing Ability Test (WAT)- In this round aspirants are given a topic to write an essay. This helps in understanding the thought process and writing ability of the students.
- The final step is to get enrolled under the university of which you have cracked the entire admission process. Final enrollment will be requiring all the necessary academics and personal documents to be submitted.
What are the MBA Healthcare Management Entrance Exams?
Entrance exams are very important for MBA Healthcare Management admission in India. In the most recent academic cycle, over 2.5 lakhs students applied for the CAT exam, making it one of the most important management entrance exams.
Some of the other MBA Healthcare Management Entrance Exams are:
|Entrance Exams||Eligibility||Registration Dates (tentative)|
|CAT||50% in Graduation for General and 45% for Reserved. Final year students can also apply.||August 7 to September 25, 2020|
|MAT||Candidates with any bachelor's degree can apply. Final year students can also apply||1st Week of July to August 2021 (For September Exam)|
|XAT||Any Graduate can apply||Third week of August 2020-Last week of November 2020 (without late fee) / Second week of December 2020 (with late fee)|
|CMAT||Candidates with any bachelor's degree with 50% can apply. Final year students can also apply. For reserved candidates, 45% is required.||Throughout the Year|
|GMAT||A bachelor's degree from a reputed university is needed. There is no age limit for this exam.||To be announced|
|ATMA||Candidates should possess a Bachelor’s degree in any discipline with minimum 50% marks.||February 13, 2020 to May 18, 2020 (2 pm)|
How to get admission in a top MBA Healthcare Management College?
The following points must be kept in mind in order to get admission in top MBA Healthcare Management colleges like KJ Somaiya Institute of Management, Acharya Bangalore B-School, etc.
- Candidates must keep a note of the dates of the entrance exams and apply for the same without delay.
- Prepare thoroughly for the entrance exam by making notes following the syllabus.
- Keep on enhancing the skills like writing, reading, speaking, etc, as this will help in clearing the Group Discussion, Personal Interview, and the Writing Ability Test.
- Try to be aware of the current happenings in and around the world.
- Be committed to your goals and focus on giving your best.
Outcomes of MBA Healthcare Management
Check out the mentioned below points to know more about the course:
- Candidates of the MBA Healthcare Management course are qualified to manage diverse roles of leadership, management, administration in the Healthcare sector.
- The course is a mix of theories, assignments and case studies that differ according to college norms
- Candidates are taught diverse subjects like Quantitative Techniques, Financial Accounting, and Human Resource Management to give an insight into the workings of the system.
- The subjects in the first-year study of MBA are common to other streams in order to lay a strong foundation in fields of finance, marketing, Operations and Human resource as they are useful to the Healthcare sector.
- MBA Healthcare Management syllabus involves working on case studies as applied in the Health Care system, enabling students to gain enriching knowledge regarding the actual workings of the industry.
MBA Healthcare Management Colleges
Some of the top MBA Healthcare Management Colleges are tabulated below, along with their average fees, salary, and location.
|College Name||Location||Average Annual Fees (INR)||Average Annual Salary (INR)|
|KJ Somaiya Institute of Management||Mumbai||7,17,050||10 to 13 LPA|
|Chitkara University||Patiala||2,63,000||7 to 9 LPA|
|Acharya Bangalore B-School||Bangalore||8,10,000||12 to 18 LPA|
|Lovely Professional University||Jalandhar||3,04,000||8 to 20 LPA|
|Manav Rachna International Institute of Research and Studies||Faridabad||2,985,00||7.5 to 14 LPA|
|AIMS Institute||Bangalore||9,00,000||11 to 20 LPA|
|The Prestige Institute of Management and Research||Indore||1,19,000||6 to 8 LPA|
|M.P. Birla Institute of Management||Bangalore||5,30,000||6 to 8LPA|
|Amity Global Business School||Noida||3,90,000||10 to 17 LPA|
|Universal Business School (UBS)||Karjat||15,72,805||10.95 to 20.5 LPA|
MBA Healthcare Management Distance Learning
MBA Healthcare Management distance learning is available for people who cannot devote two years to campus learning with a high cost of studying. The cost of distance MBA Healthcare Management ranges from INR 30,000 to 1,00,000, which is less in comparison to the traditional route.
Essentials points to keep in mind for MBA Healthcare Management distance learning enrollment:
- The minimum eligibility required for this course at distance is to have a bachelor’s degree from a recognized university.
- Admission to this course from distance is offered either through merit or entrance exams.
- The time required to complete an MBA Healthcare Management from distance is from 2 to 5 years.
- There is no age limit set for the aspirants eager to pursue this course from distance.
Some of these colleges offering MBA Healthcare Management distance learning are tabulated below.
|College name||Location||Average Annual Fee (INR)|
|Venkateshwara Open University||Pune||28,500|
|Suresh Gyan Vihar University Distance Education||Gurgaon||42,500|
Source: University Websites
What is the MBA Healthcare Management Syllabus?
MBA Healthcare Management Syllabus is covered in 4 semesters. The subject allocation is done as per the course requirement of the respective colleges. The syllabus is divided into Practical, Projects, Theory, Seminars, and Case Studies.
The table below lists the subjects taught in the MBA in Healthcare Management syllabus.
|Fundamentals of Healthcare Administration||Management of Disease Control|
|Quality Assurance||Healthcare Policies & Regulations|
|Healthcare Economics||Medico-Legal Issues|
|Healthcare Legislation||Hospital Enterprises Management|
|Operations Management||Organization of Hospitals|
|Healthcare Planning||Concepts of Epidemiology|
|Management of Hospitals||Health Management|
|Administration of Hospital||Information Management in Healthcare|
|Anatomy, Physiology & Medical Terminology|
The first year syllabus is common to all the streams, with specializations being formally divided and focused upon in the final year.
MBA Healthcare Management Jobs & Career Options
MBA Healthcare Management prepares the students to showcase their leadership and innovative skills in the growing sectors of the Health industry. Candidates who have successfully completed their courses with high ranks have wide career prospects to choose from. Some being Hospital CEO, Healthcare Information Manager, Hospital Administrator, and more.
With an average MBA Healthcare Management salary ranging from INR 5 to 12 LPA, the top firms recruiting these graduates include:
- Apollo Life
- Cadila Healthcare
- Advanced Healthcare Resources of India
- Wipro GE HealthCare
Here are some of the common MBA Healthcare Management jobs along with the Average Salary Scale:
|Job Position||Job Description||Average Salary|
|Hospital CEO||Highest-ranking executive of a company, with basic responsibilities of decision making, operation management, communication, along with acting as the key personnel of the hospital.||INR 12 LPA|
|Hospital CFO||The main treasurer of the company, managing company finances, financial risks, financial reporting, and record-keeping, along with making budgets and overseeing the revenue of each section of the hospital.||9 LPA|
|Assistant Operation Manager||Assistant operations managers are in charge of scheduling, staffing, and maintaining customer relations, along with overseeing daily activities and maintaining the budget, income, and cost of the hospital.||6 LPA|
|Physician Relations Liaison||Physician Relations Liaison manages the private practicing doctors and helps them in procuring clients outside of their local network.||4 LPA|
|Healthcare Information Manager||Health information managers ensure the data integrity of the hospital, along with maintaining the privacy and security of the enterprise. They also implement processes and overlook medical record-keeping.||6.5 LPA|
|Oncology Coordinator||Oncology Coordinators effectively manage and deliver care to cancer patients, while maintaining their progress chart and treatment schedules.||6 LPA|
|Medical Practice Manager||Practice managers oversee the commercial side of the medical practice and are responsible for training staff, keeping records, complying with industry relations, and hiring fresh talent.||7 LPA|
|Hospital Administrator||Hospital administrator supervises administrative operations, oversees annual budgets, implementing policies, and preparing work schedules.||INR 4.79 LPA|
|Claims Manager||Claims managers manage and administer billing services of the medical operations, along with maintaining revenue tabs.||4.5 LPA|
What is the MBA Healthcare Management Scope
Healthcare managers have been in an ever-evolving demand within the hospitality business, with a 25% spike in their overall desirability and value. The Government is recognizing the value of healthcare managers for the fluid functioning of the hospital, thereby investing in rural and urban training them. A direct influx of private players in the arena are making it important for hospitals to have an efficient managerial layer to their workings.
Some of the factors like growth in health awareness and the demand for better health facilities are contributing to the growth of this industry. As per a report by Forbes, up to 15% of the global healthcare spending was tied in some form with value/outcome-based care concepts by the end of the following year.
Once the students are done with pursuing MBA Healthcare Management, they can go for higher studies by signing up for a Ph.D. in Hospital Administration. This higher degree offers students a platform after completing a master degree in the same field to explore their existing knowledge further gaining an advanced perspective of the field.
MBA Healthcare Management vs MHA
The following table shows the comparison made between MBA Healthcare Management vs MHA (Master in Healthcare Management) on major parameters:
|Parameters||MBA Healthcare Management||MHA|
|Qualification||Masters of Business Administration in Healthcare Management||Master in Health Administration|
|Course overview||The main purpose of MBA Healthcare Management is to make students skilled enough to work in the industries like health-consulting businesses and healthcare firms. The curriculum follows a practical approach of study.||The main objective of MHA is to prepare students for higher-level careers in health systems such as hospitals, etc, but following a theoretical approach.|
|Duration||2 years||2 years|
|Examination Type||Semester based||Semester|
|Average annual fees||INR 2 to 10 lakhs||INR 50,000 to 5 lakhs|
|Eligibility||Bachelor’s degree in any discipline with 50% aggregate marks||Candidates should have a Bachelor’s degree in any discipline from any recognized Indian university with a minimum of 50% marks in aggregate.|
|Admission Process||Entrance exam conducted by colleges, GD & PI||Entrance exam and merit.|
|Colleges||Symbiosis Institute of Health Science, Pune Institute of Health Management, Jaipur Manipal School of Management, Manipal, Faculty of Management Studies, Delhi, etc||Eternal University, Sirmaur Parul University, Vadodara, International Management Institute, New Delhi, Rai University, Ahmedabad, etc|
|Average salary offered||INR 5 to 12 LPA||INR 3 to 8 LPA|
|Job Roles||Hospital Administrator, Healthcare Manager, Hospital CFO & CEO, Pharmaceutical Production Manager, Medical Practice Manager||Medical Deputy Officer, Assistant Medical Officer, Medical Superintendent, etc|
Source: University Websites and Payscale
MBA Healthcare Management: FAQs
Ques: Who can become a Healthcare Manager?
Ans: Candidates with a Bachelor's degree and a minimum of 50% aggregate can become healthcare managers via an MBA program.
Ques: What kind of job can we get after an MBA Healthcare Management Degree?
Ans Healthcare managers can get entry-level jobs as the following designations:
- Human Resources Coordinator
- Hospital Administrator
- Claims Manager
- Healthcare Consultant, etc.
- Operations Manager
Ques: What is the difference between MBA Healthcare Management and MBA Healthcare administration?
Ans: MBA Healthcare Administrators handle the medical research and treatment offered by a hospital, whereas Healthcare Managers oversee the accounting, policy, and facilitation of the hospital. Management is directly responsible for the healthcare organization and administration runs the staffing of the building.
Ques: What are the benefits of MBA Healthcare Management?
Ans: MBA Healthcare Management students get an insight into the operational section of the Healthcare Industry. The students get lessons on healthcare management, which bridges the gap between the commercialization of the hospital and the patients admitted to the healthcare industry. Students also get into the government's healthcare policy-making.
Ques: Is it important to have a Bachelor's in the Healthcare sector?
Ans. It is a plus for candidates to be from the medical science sector, however, it is not required for students to be from the same field.
Ques: What's better, A Diploma or MBA?
Ans: The difference between the courses is the time duration and the diversity of the syllabus. A diploma only covers a concerted area of the field, whereas MBA programs cover the entirety of the Healthcare Management.
Ques: Can healthcare managers become the CEO of a hospital?
Ans: Yes. With the right skills and managing edge, healthcare managers can rise up to become the CEO of the company.
Ques: Is an MBA Healthcare Management worth it?
Ans: Yes. A degree that polishes your leadership, management and strategic skills are definitely good for you. What makes it worth it is the career prospects that open up as soon as you get the degree.
Ques: Can healthcare management be considered a desirable career choice?
Ans: The field for Healthcare management is about to explode, with lakhs of vacancies coming up in the next five years, making it a respectable and desirable career choice.
Ques: Has there been any announcement regarding COVID-19?
Ans: Most of the college admissions have been shifted online and there are no college tours available to the students. Classes have also been shifted online.