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6 Things To Consider When Applying For An MBA In Healthcare

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6 Things To Consider When Applying For An MBA In Healthcare

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Perhaps the most significant decision of one’s life is that of education. Education is a tool that is pivotal in today’s society. Education polishes your skill sets and prepares you for the real world. Moreover, it also grooms you for society. Education is vital in instilling basic etiquette and practices in one’s life; how you dress, how you talk, how you carry yourself, and more.

However, getting an education isn’t always an easy thing to do. It takes a lot of hard work and hours of effort. It needs dedication, determination, and motivation. The road to acquiring a quality education isn’t always a smooth one, but it is surely worth it, for there is no future without being educated. You start with primary school, then move towards middle school, then undergrad, and eventually postgrad.

There are a lot of degrees and courses that you can choose from. These days, an up-and-coming area of study is healthcare. In a post-Corona world, there will be ample need for healthcare professionals to deal with this pandemic’s repercussions. Luckily for all of us, there are several universities and colleges from where aspiring healthcare professionals can get the best online healthcare MBA and MSc degrees to fill the gap. Before choosing such an extensive degree, however, there a few things that you must consider.

Cost

The most crucial factor to look out for when pursuing a Master’s degree is the cost. Education isn’t easy on the pockets; this much is factual. According to a report, the U.S. education market makes around 1350 billion dollars per year! Much of this revenue is, in fact, large chunks of student debt. In 2019, the figures reached a whopping $1.6 trillion. Moreover, post-graduate education, such as an MBA, is not cheap. Additionally, given that we’re in the middle of a global health crisis, and the demand for healthcare professionals in the industry has increased, the cost of acquiring relevant qualifications has also increased. So, whatever program you apply for, make sure you’ve thoroughly researched its fee structure and payment options.

Time Commitment

Post-graduate education requires a lot of effort, which means that one must put in extra hours to compensate. This holds true even more so for individuals pursuing a healthcare-related degree. So, before starting your MBA, you need to make sure that you have enough time to put in your studies to complete the program. Managing work and life can be quite daunting while studying simultaneously. Ask yourself, do you have it in you?

Course Work

A common stereotype about healthcare-related degrees is that you will have to study the same things as a doctor and have almost the same course load. This is not true! After all, we’re talking about an MBA and not Medicine; the two are inherently different from one another. However, with an MBA in healthcare, the course work and load may vary from university to university, including minor differences in specialization areas. So, before deciding upon your educational institute, make sure to check out their curriculum. Each school has a different educational philosophy, teaching methodologies, etc. So, choose what suits you best and settle on that!

Admission Requirements

Alright, so you might have the financial means to attend university. You may also have all the time in the world to commit yourself to the program of your choice. But without meeting the admission requirements for the program, you stand nowhere. Healthcare-related degrees often have stringent prerequisites that may include a relevant undergrad qualification, work experience, and high academic test scores to get into the program. Moreover, there are also other affiliated tests that you might have to undertake, such as TOEFL ad IELTS. Each university, be it online or offline, has a different set of admission requirements that must be met. Not to mention, there’s also the competition.

Location

Location is an essential factor to consider as it comes with the additional cost of re-location. Air travel, accommodation, and food and drink are major contributors to increasing the overall cost. However, the thrill of moving to a new place has its charm.

Alternatively, if you for an online program, many of these variables are eliminated, and you can continue pursuing your degree while staying or working in your current location. This obviously sounds like the easier way out. At the end of the day, it is a choice that one has to make between convenience, availability of financial resources, and personal aspirations.

Accreditation

Your school has to be accredited; enough said! Its accreditation means that your school’s academic program will be recognized by others, which, in turn, makes the transfer of further education of a student possible. Moreover, your school’s accreditation also increases its credibility and how potential employers in the healthcare industry look at you as a potential asset. There are many accrediting organizations, such as the Commission on Accreditation Healthcare Management Education (CAHME), that serve as a benchmark for both students and employers and ensure the integrity of graduate healthcare management education.

Conclusion

Having an MBA under your belt sets you apart. Even more so, if it is an MBA in healthcare. This branch of education will enhance your social standing and make you a key instrument in providing quality healthcare services to people in need. You will be considered a worthy asset by various hospitals, nursing homes, and healthcare service providers. So yes, the road might be long and bumpy, but that does not mean that it is without its fruits and rewards. Start your research, chalk down your action plan, and get started right away.

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