Guide for MBA in Hospital Management: 2024 Edition

When you hear MBA, the mind automatically jumps to business, management and everything related to it. The thought of relating management with healthcare is less likely to cross your mind. Why? Because most people are not aware of the career prospects of management in healthcare. If a hospital needs doctors and nurses, it needs a well-trained administrative staff to ensure the proper functioning of a hospital. This is where the need for MBA in Hospital Management graduates arises.

As the population grows and ages, advancements in the medical field across the globe will lead to newer challenges and opportunities. This evolving field will require competent candidates with the ability to administer the overall operations of a hospital or handle any one segment like finances, HR, etc. Ever since the pandemic, the need for hospital managers has significantly increased in India. Thus, this field has attracted many individuals with a passion for healthcare and strong leadership qualities

If you are one of those, then you have reached the right place. This blog will discuss everything about an MBA in Hospital Management, be it eligibility, college list, salary and jobs in this field.

What is an MBA in Hospital Management?

MBA in Hospital Management is a two-year postgraduate degree programme that develops management skills in a healthcare professional. In some institutions, the programme is also known by the name MBA in Healthcare Management. This specialised programme deals with the study and practice of managing various facilities. It strategically combines a business management approach with specific healthcare policies, systems, regulations and practices. If you are aiming for administrative roles, this degree programme can prepare you for leadership roles for enhancing the standard functioning of a hospital.

The scope of hospital management is vast since there is always a need for skilled healthcare professionals and it is not something any nation can comprise. The increasing number of hospitals, the rising demand for healthcare services and the adoption of advanced technology in the healthcare sector have created many new jobs in the market. This course will prepare you for this ever-growing field on a global level.

Why Choose an MBA in Hospital Management?

While medicine/ healthcare is a completely practical science field, managing the entire system is a crucial aspect to ensure everyone gets quality services. The MBA course will combine the business and management aspects of hospital operations. In a populous country like India, the strength of the healthcare system is the topmost priority which is why, the management side of this industry holds several lucrative career opportunities. Many job profiles in this field pay way more than any other field and it is not which will evade after a while. Therefore, growth is consistent and stable. Let’s take a look at the benefits of an MBA in Hospital Management.

• Higher Earning Potential for Lifetime: The health sector is one of the most sought-after fields with high job security and global career opportunities. As this field can never go off-grid, earning an MBA degree will get you a higher salary package and accelerated growth compared to others.

• High Demand for MBAs: Like any other business corporation, an MBA-qualified candidate has high demand in the healthcare industry. It highlights your skills and potential to fulfil the job role and management of a hospital. The chance of an MBA graduate getting hired is more than others.

• Opens New Career Paths: As it is a major employment sector, the competition is fierce. An MBA in Hospital Management will open new career avenues for you in the administration vertical. So the time you invest in the course pays off when you have access to multiple career paths and job opportunities,

Syllabus for MBA in Hospital Management

MBA in Hospital Management Eligibility

The common eligibility criteria followed by most of the universities are as follows:

• You must have completed your bachelor’s education with 50% aggregate preferably in a healthcare-related field, though not mandatory.

• For a regular degree, you have to qualify for the CAT/MAT/XAT entrance exams. In the case of online degrees, entrance exams are not required.

• Many institutions prefer candidates with BSc, MBBS, BDS, BPharma or BPT degrees.

Please note that eligibility for every college will be different. Therefore, it is advised to check the same thoroughly.

Types of MBA in Hospital Management Programmes

Tips for Choosing the Right MBA College

When there are so many colleges to choose from, you are bound to get confused. We have discussed a few tips to choose the right MBA college for you.

1. Check if the college is accredited, approved, and recognised to offer the degree

2. See the placement record, career assistance and guidance that the university provides

3. Look for industry and international university collaborations at the university

4. Research the student support services in the college and campus facilities in case of offline mode

5. Talk to alumni, and students from ongoing batches and  read student reviews to get a clear picture

6. Compare the coursework of different universities and see if it aligns with your goals

7. Check the fee structure, relocation cost and other expenses to calculate the overall cost of the programme

MBA in Hospital Management Colleges

Here is the list of top MBA in Hospital Management Colleges in regular, online/distance modes.

MBA in Hospital Management Scope

The Hospital Management field has seen tremendous growth in recent years. So much so that it has become a key job provider in India. As per a study, the Indian hospital industry covers more than 80% of the healthcare infrastructure which is projected to generate the highest revenue by 2026. The Indian healthcare sector is over $372 billion and given the population size, it has a huge scope. These numbers directly impact the employment trends of the field and the future looks bright.

Here are a few job roles that you can pitch for after an MBA in Hospital Management.

Jobs After MBA in Hospital Management

Bottom Line

The years after the MBA in Hospital Management degree will open doors to newer opportunities and a bigger salary package.  So, if you are planning for a management career in the healthcare sector, now is the right time to get an MBA degree. Take a step ahead and build a successful career in the most lucrative field in India.

FAQs

Q1. What should I do before MBA in Hospital Management?

Before applying for an MBA in Hospital Management, you must complete your undergraduation with 50% marks and qualify for MBA entrance exams if required.

Q2. What are the subjects in MBA Hospital Management?

While every college has a different course basket, the common subjects include human anatomy and physiology, hospital architecture, healthcare laws and ethics, corporate management, etc.

Q3. Is it worth doing an MBA in Hospital Management?

A Hospital Management graduate gets a higher salary package compared to a bachelor’s degree holder. Moreover, an MBA in Hospital Management can enhance your skills and knowledge leading to faster promotions.

Q4. What is the highest package for an MBA in Hospital Management?

The salary will depend on other factors as well like your experience, city, and capability. On average, an MBA in Hospital Management graduate can earn between INR 5 to 12 LPA.

Q5. Which college is best for Hospital Management?

It depends upon your interests, requirements, and objectives. So the best college category will vary for everyone. However, some of the best names are Manipal University, Dr DY Patil Vidyapeeth, KJ Somaiya Institute of Management, and Amity University among others.