Hospital Management OR Healthcare Management: Which One Should You Choose?31st May 2017
In the last few years, there has been a tremendous development in the field of medical science and as a result, the medical industry has witnessed a boom. There has been a constant addition in the career paths from which students have hugely gained. MBA courses too have encompassed hospital management, healthcare management and various other niches, focusing on clinical management studies.
Among the successful MBA courses, hospital management and healthcare management are thriving among aspiring candidates. Before we begin, let us give an insight about these two courses and how different are they from each other.
MBA in Hospital Management
The course duration is of 2 years with a minimum eligibility criteria of graduation in any discipline with a 50% aggregate score. Students with a background in medicines, lab technology, pharmacy and dental science too are eligible for this course. MBA in hospital management involves the same standards of quality care that administer all industry facilities. Medical establishments like, hospitals, clinics and other institutions involve immense complex working schedules and require reliable and efficient manpower which is ensured by ideal candidates from the field of hospital management.
Job roles range from healthcare finance managers to medical and health service management, hospital administrators to medical directors and blood bank administrator to HR recruiter in super specialty hospitals and healthcare centers.
With a continuous development in this career, the salary package too is lucrative for the ideal candidate. Ranging from 415,000 INR to 500,000 INR per year, the salary package of an MBA student in hospital management depends on their expertise and skills.
MBA in Healthcare Management
This course too has a similar duration of 2 years with semester system and requires a minimum eligibility of graduation in any discipline with a 50% aggregate score. Students coming from science background is essential for this course, as MBA in healthcare management covers business and operational parts of a healthcare or medical facility, handling the financial principles of the organization and supporting the industry’s economic infrastructure.
During the course, the rigorous training will administer combined lessons which will help to buildup higher quality of conceptual skills, analytical skills and better technical knowledge foundation among candidates and prepare them for controlling the healthcare sectors.
There is an emerging range of hospitals, public health organizations, health insurance organizations, wellness centers, medical tourism companies, diagnostic laboratory chains and other health related organizations which offer lucrative job roles to ideal candidates.
The salary package of aspiring candidates varies on several factors like, academic record, the level of qualification, practical exposure and many more and yet the yearly remuneration ranges from 450,000 INR to 600,000 INR.
Opting the Right Career
Although there lies a significant difference between the two courses, MBA in hospital management and healthcare management share a striking interdisciplinary knowledge areas and require almost of the similar competence and training, which is by far the best way to master the profession, functional both in theory and practice.
Both the courses offer a comprehensive understanding of the professions associated with them and enable candidates with a stronger and meaningful career options.