Master's degree holders are often equipped with a transferable set of skills, which can mean more flexibility when they choose where they want to work. For example, a graduate may work at a local clinic for a period of time and then pivot to a major health network, or vice versa.
Health management salary and job growth
Pursuing a healthcare management master’s degree costs time and money, but many prospective students take into account their expected wages with an advanced degree. The BLS reports that the median annual salary for medical and health services managers was $104,280 as of May 2020.
Healthcare is a rapidly growing field with a strong need for competent managers. As the population swells and advancements continue in wearable health technologies, artificial intelligence, and data science, healthcare managers should continue to be in high demand.
The U.S. healthcare industry is already massive. According to a 2020 report by the U.S. Centers for Medicare and Medicaid Services, healthcare spending accounted for over 19.7% of U.S. GDP ($4.1 trillion) in 2020. According to the same report, U.S. healthcare spending increased at a much faster rate than expected — 9.7% between 2019 and 2020, exceeding the 4.3% projected increase — largely because of the COVID-19 pandemic.
The BLS projects a robust job growth of 32% between 2020 and 2030 for medical and health services managers due to factors including rising healthcare spending, the aging of the U.S. population, and the high retirement rate among existing healthcare professionals. Graduates with a master’s degree in healthcare management are likely to have an advantage over job candidates without advanced degrees.
Graduate healthcare management degree requirements and characteristics
Students examining the value of an online master’s degree should review the requirements for the healthcare management degree programs they are interested in pursuing. These often include holding a bachelor’s degree, having the minimum required GPA, and providing other relevant test scores or documents.
Education Prerequisites
Graduate-level healthcare management programs require prospective students to have a bachelor’s degree before they can be considered for admission. While the undergraduate education doesn’t need to be in a specific area of study, earning a bachelor’s degree in healthcare management or a related field (such as nursing or biology) can help prepare students for graduate coursework.
Application requirements
Applicants to master’s in healthcare management degree programs must meet the basic requirements. These vary by school and program, but common requirements for admission to a master’s degree program in healthcare management include:
- Minimum cumulative GPA (often 3.0 or higher)
- GRE scores or other standardized test scores
- Resume or curriculum vitae
- Personal statement
- Official transcripts
- Letters of recommendation
Master's in healthcare administration programs may prioritize applicants with previous experience in healthcare or healthcare business.
Program duration
Potential students should also examine the length of a program. A typical online graduate degree program in healthcare management (such as a Master of Business Administration in Healthcare) may last anywhere from 18 to 30 months. However, program lengths can vary based on specific schedules.
Typical courses
Courses for graduate degree programs in this field build on the fundamentals of a bachelor’s degree in business, management, or public health — emphasizing the real-world applications of management, business ethics, and healthcare decision-making and leadership skills.
Courses may cover the following subjects:
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