The growth of the healthcare industry is rapidly increasing as medical technology improves, access to insurance increases and large demographics, such as the Baby Boomers, begin to age. The Bureau of Labor Statistics estimates that there will be a 17% job growth in this area which will equate to approximately 56,300 healthcare management positions created before 2022.
The difference between a healthcare manager and a healthcare administrator is slight but significant. Healthcare managers are responsible for the running of healthcare organizations with healthcare administrators managing staffing concerns; however, many health systems merge the titles with executives overseeing both the organization and the staff. The Bureau of Labor Statistics estimates that healthcare executives draw a median yearly salary of $94,500, depending on experience and degree. A minimum of a bachelors degree is required, with many health systems preferring a masters degree in business with a healthcare specialization.
Tuition
Graduate tuition costs can vary widely from school to school. The College Board estimated tuition costs ranged from $9,139 for in state students attending a public school to $31,231 for a private school education. Many states are beginning to explore offering tuition free education for residents attending two-year community colleges. There are several ways to reduce the sticker shock of obtaining your master's degree.
Employee Reimbursement
If you're currently employed fulltime, you may want to investigate whether your employer offers tuition reimbursement as part of your benefits package. Check with your employer's Human Resources department to see if this option is available and makes sense for you.
Federal Financial Aid
There is little in the way of federal financial aid for graduate students. Student loans are offered and you must file an application available at Free Application for Federal Student to determine your eligibility.
Veterans, Active Military, Spouses and Dependents
Increasingly, schools are offering reductions in tuition costs for active military, veterans, and/or spouses and dependents. Check the school's website to ascertain if this is an option for you.
Accreditation
We all read stories of students who were either scammed or disappointed in online degree programs. One way to determine whether a program will meet your needs, look for program accreditation. Accreditation verifies that the educational offerings meet specific expectations as defined by an independent organization such as the Higher Learning Commission. Verify that regional accreditation is documented and that the accrediting organization is recognized by the U.S. Department of Education. If you're pursuing a career path that requires state licensure, verify that the program you choose meets state licensure requirements.
Best Medical Degrees has identified ten, online masters degrees with healthcare management specializations. Tuition costs, length of program, accreditation and rankings by publications such as U.S. News and World Report, the Kiplinger Newsletter or Forbes Magazine were taken into consideration in the development of this affordable Masters in Healthcare Management degrees.
1. Fayetteville State University
Fayetteville State University in North Carolina dates back to 1867 with the establishment of the Howard School to provide education to black citizens in the area. Now a public school that is ranked #102 by U.S. News and World Report in its Regional Universities South rankings, as well as #43 in its Top Schools ratings and #26 in the report's Historically Black College and Universities. The online MBA program at FSU is ranked #91 in Best Online MBA Programs. Accredited by the Southern Association of Colleges and Schools, this is a MBA with a Healthcare Management concentration.
The program requires a bachelor's degree for admission and explores core business courses in accounting, finance, marketing and economics. There are 12 credit hours required in the concentration studies in managed care and the American healthcare systems, healthcare finance and control, health services marketing, ethical and legal issues in healthcare, etc.
Length of Program: 39 Credit Hours
Estimated Tuition Cost: $6,443.97 (Resident); $16,110.12 (Non Residents)
2. Columbia Southern University
Columbia Southern University, located in Orange Beach, Alabama, was founded in 1993 and offers an online MBA in Healthcare Management which is accredited by the Distance Education Accrediting Commission, which was founded in 1926 and serves as an independent accreditor for distance educational programs.
The degree's 24 credit hours major requirements include strategic management and business policy, human resources, organizational theory and policy, advanced marketing and research methods. The remaining 12 credit hours concentrates on legal foundation of health care, health resources and policy analysis and health care financial management. Completion of the program is estimated to be three years.
Length of Program: 36 Credit Hours
Estimated Tuition Cost: $9,900
3. Southern New Hampshire University
Southern New Hampshire University has an online MS in Healthcare Management degree. SNHU is ranked #1 as a Most Innovative School and #101 National Universities North by U.S. News and World Report and holds accreditation from New England Association of Schools and Colleges. Chartered by the state of New Hampshire in 1963 to award educational degrees. A private school with an enrollment in excess of 3,000 students, SNHU boasts of being one of the first schools to offer an online Master of Science in Healthcare Management.
Focusing on organizational culture, resource planning and decision making, business research, health policy and law, healthcare information management, healthcare reimbursement systems and finance, among other courses; and, culminates with a capstone project.
Length of Program: 36 Credit Hours
Estimated Tuition Cost: $22,572; $16,920 (Military)
4. Baker College
Baker College, established in 1911 in Flint, Michigan, the school defines itself as a "career college" and is the largest not-for-profit, independent college in Michigan. Accredited by the Higher Learning Commission, the MBA in Healthcare Management is also accredited by the International Assembly for College Business Education.
Moderately priced, this degree includes studies in health law and ethics, healthcare finance, healthcare programs and policies and quality management in healthcare organizations. In addition, this Baker College program includes core business requirements in human resource management, the economic environment, the marketing environment, research and statistics for managers and strategy in global environment.
Length of Program: 53 Credit Hours
Estimated Tuition Cost: $23,850
5. Saint Leo University
The oldest Catholic university in Florida, Saint Leo University was founded in 1889 and now boasts an enrollment of over 16,000 students. The school holds accreditation from the Southern Association of Colleges and Schools Commission on Colleges. Offering a MBA in Healthcare Management, this is an online MBA program with a healthcare management concentration. Saint Leo is ranked #100 Best MBA Programs, #62 in Regional Universities South and #26 in Best Value Schools by U.S. News and World Report in 2017.
Saint Leo University has an accelerated MBA program that holds accreditation from is accredited by the Accreditation Council for Business Schools & Programs. The Healthcare Manager concentration examines U.S. health insurance programs, health care taxation, consumer health care, federal and state health policy processes and community health evaluation and epidemiology. The degree also has core business courses requirements such as communications, business management theories, ethics, etc.
Length of Program: 36 Credit Hours
Estimated Tuition Cost: $25,020
6. Arizona State University
Arizona State University has a unique online degree in Master of Science in Healthcare Innovation. This degree looks to help students create new ways of providing healthcare processes and remodel systems infrastructure, policies and evidence-based decision making. Coursework covers study in innovation and the individual, financing for innovation, strategy in healthcare, healthcare policy and innovation, etc.
ASU has been highly ranked by U.S. News and World Report, receiving a #1 ranking in Most Innovative Schools and has been recognized by the Princeton Review as one of the Best 379 Colleges. Founded in 1885, Arizona State University has a current enrollment over 51,000 students and holds accreditation by the Higher Learning Commission.
Length of Program: 33 Credit Hours
Estimated Tuition Cost: $25,344
7. Colorado Technical University
Colorado Technical University offers an online MBA in Healthcare Management which is accredited by the Accreditation Council for Business Schools and Programs (ACBSP) and the school is accredited by the Higher Learning Commission. Founded over fifty years ago as a technical school housed in a roller rink in Colorado Springs, Colorado Technical University has grown to a university recognized by U.S. News and World Report, CEO Magazine and the Military Times for its various online degree programs.
This MBA has two components of core courses, such as strategic management in dynamic environments, strategic human capital management, leadership and ethical decision-making in healthcare. Concentration courses examines managing healthcare organizations, systems in healthcare and a MBA healthcare management capstone project. The program enhances critical and creative thinking in bringing new concepts to healthcare.
Length of Program: 48 Credit Hours
Estimated Tuition Cost: $28,080; $22,080 (Military Discount)
8. Brenau University
This Gainesville, Georgia school was established in 1878 as a women's college and maintains the Women's College as part of its undergraduate programs. Coeducational since 1972, Brenau University has been ranked #82 in U.S. News and World Report's National Universities South and #30 Best Value Schools. Accredited by Southern Association of Colleges and Schools Commission on Colleges, this is a MBA in Healthcare Management.
Brenau has offered online education since 1998 with a RN to BSN bridge program and has offered the MBA for 16 years. A 15 course program, this coursework leads to a MBA and certificate in Healthcare Management and covers topics core topics in business law, marketing, global economics, strategic management and policy. Specialization courses include ethics and leadership in healthcare, financial management in healthcare, advanced topics in healthcare and organizational systems in healthcare.
Length of Program: 45 Credit Hours
Estimated Tuition Cost: $29,340; $11,250 (Military Discount)
9. University of Scranton
Originally named Saint Thomas College in 1888 by the Jesuits in Scranton, Pennsylvania, the University of Scranton is a highly ranked by U.S. News and World Report as #6 in Regional Universities North and #72 Best Online MBA Programs and has received a Best College designation from the Princeton Review. A private college with an enrollment over 5,000, University of Scranton provides an online MBA Healthcare Management online degree. The university is fully accredited by the Middle States Commission on Higher Education and the Kania School of Management is among a select group of schools accredited by the AACSB International (Association to Advance Collegiate Schools of Business).
This online MBA offers a healthcare management specialization with coursework in management and marketing core, operations and information management core, health care law, global health management, health services and systems, healthcare financial management and a capstone project.
Length of Program: 36 Credit Hours
Estimated Tuition Cost: $30,132
10. Capella University
Capella University is a Minnesota based proprietary school which is accredited by the Higher Learning Commission. Capella's MBA in Healthcare Management is also accredited by the Accreditation Council for Business Schools and Programs. Capella University, founded in 1993 as the Graduate School of America, was developed to provide online masters and doctoral programs in management, education and human services.
This MBA program requires 33 credit hours in core business hours with topics in financial accounting, finance and value creation, organization strategy as well as business integration skills. Concentration courses in healthcare are strategic management of health care systems, ethical and legal considerations in healthcare, health care analysis and decision making. The program completes with a capstone project.
Length of Program: 48 Credit Hours
Estimated Tuition Cost: $37,440