Master’s in Healthcare Management Programs
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Are you ready to earn your online nursing degree?
Credit: Porta / E+ / Getty ImagesThe healthcare sector continues to expand, as does the need for experts who can effectively lead healthcare organizations, systems, and teams. A master’s in healthcare management (MHM) prepares students for a variety of executive positions that require advanced strategic and decision-making skills.
According to the Bureau of Labor Statistics (BLS), medical and health services managers earned an annual median salary of $110,680 as of May 2023. The BLS also projects these fields to expand by an impressive 28% each year from 2022-2032 — far greater than the 3% national average.
Explore some of the nation’s best MHM degree programs, plus a career overview, academic requirements, and the information you need to stand out among other applicants.
Popular Online Healthcare Management Programs
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
How Do Master’s in Healthcare Management Programs Work?
While the structure of MHM programs varies by school, your goals, and other factors, these programs typically require 1-2 years of study. The MHM curriculum provides the knowledge, skills, and practical experience healthcare employers value.
An MHM curriculum requires 30-48 credits and covers topics, such as managerial finance and accounting, financial reporting and analysis, operations strategy, health law, and ethics. Programs can be in person, fully online, a hybrid of the two, or otherwise scheduled to accommodate working professionals.
Applying to a Master’s in Healthcare Management Program
Applicants must have a bachelor’s degree from a regionally accredited institution. Degree-seekers must begin by filling out an application form. Some MHM programs require an application fee, usually around $50-$70. You may also need to demonstrate a competitive GPA and relevant professional experience.
- Admission Materials: Generally, these include academic transcripts, a CV or resume, personal statement, letters of recommendation, and evidence of 2-5 years of professional experience. Some programs no longer require GRE or GMAT scores.
- GPA Requirement: 3.0 on a 4.0 grading system; 2.5-2.99 GPA is often considered on a provisional basis.
Why Is MHM Program Accreditation Important?
A regional or national accreditation ensures that academic programming meets stringent standards recognized by the U.S. Department of Education. These private accreditation groups establish evaluation criteria and conduct site visits to ensure schools measure up.
Accrediting organizations, such as the Higher Learning Commission (HLC), the Middle States Commission on Higher Education (MSCHE), and the New England Association of Schools and Colleges (NEASC) accredit institutions within specific geographic regions. For instance, the MSCHE accredits institutions in New Jersey and several other nearby states.
The Commission on Accreditation of Healthcare Management Education (CAHME) is the programmatic accreditation for healthcare management graduate programs.
Employers and educational institutions often require or strongly prefer accredited degrees, so graduating from an accredited program makes it easier to secure job opportunities and advance to a doctoral program in the future.
What Can I Do with a Master’s in Healthcare Management Degree?
A master’s in healthcare management prepares graduates for a variety of management-level roles in hospitals, outpatient clinics, doctors’ offices, and other healthcare organizations. Increased demand for healthcare services, along with a growing need for health information technology and informatics specialists, will translate into additional job opportunities.
Hospital Manager
Median annual salary:$128,740
Hospital managers oversee units and departments in hospitals, where they set budgets, schedule staff, and implement new policies. They may also ensure compliance with healthcare regulations and communicate long-term organizational goals to departments.
Nursing Home Administrators
Median annual salary:$97,490
Nursing home administrators manage long-term care facilities. They oversee admissions, the administrative side of patient care, and facilities maintenance. As the population continues to age, demand for nursing home administrators will likely increase.
Health Information Managers
Median annual salary:$110,680
Health information managers organize patient records and oversee databases that secure private information. They also review records for accuracy and implement security policies. Within health information management, professionals may also specialize in areas, such as informatics or cybersecurity.
Frequently Asked Questions About Master’s in Healthcare Management Programs
Healthcare management ensures the efficient and effective delivery of healthcare services. Healthcare managers typically oversee day-to-day operations, manage budgets and financial assets, lead and guide healthcare professionals and other staff, and ensure compliance with state and federal laws. They identify areas for improvement and plan and implement long-term organizational goals.
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