The American healthcare system is a complex arrangement of interconnected businesses and organizations. For example, the American Hospital Association (AHA) lists 6,090 hospitals across the United States. Hospitals are joined by pharmaceutical companies, health technology firms, and other stakeholders interested in public health and wellness.
A projected $6.2 trillion in annual health expenditures by 2028 creates demand for leaders with strong business acumen. Suffolk University’s MBA Online offers a Health Sector Management concentration informed by the Boston healthcare industry. Degree candidates learn from full-time faculty with industry knowledge before pursuing MBA healthcare management jobs.
What is Health Sector Management?
Patient experiences with healthcare are often limited to medical practices, hospitals, and pharmacies. The health sector encompasses clinical environments along with related industries ranging from medical suppliers to insurance companies. No matter the industry, health sector businesses need data-driven leaders who balance patient needs and bottom lines.
Health sector management requires competency in day-to-day operations and long-term strategy. The leadership of a hospital system is primarily concerned with the best possible health outcomes for their patients. Additional responsibilities for administrators and managers include:
- Development of operational budgets and capital campaigns
- Compliance with state and national laws
- Facilities, human resources, and inventory management
- Marketing and communications of hospital services to the community
The scope of a leader’s work in the health sector can range from a single department to an international business. Suffolk University’s MBA Online tasks candidates with solving problems facing companies in Boston and beyond. Addressing these challenges in online courses prepares graduates for various MBA healthcare career paths across the sector.
Health Services Manager
Health services management is a high-growth area for MBA holders with healthcare knowledge. The U.S. Bureau of Labor Statistics (BLS) estimates a 32% growth in available jobs by 2030. The BLS includes clinic managers and nursing home administrators in this MBA healthcare career path.
Most professionals in this field have direct responsibility for departments and units within clinical settings. Health services managers work with doctors, nurses, lab technicians, and other staff to meet departmental goals. They oversee a facility’s finances, including billing, insurance documentation, and budgets.
Suffolk’s MBA Online builds advanced problem-solving skills through collaboration with Boston business leaders and experienced faculty. Health Sector Management specialists are not siloed into a single track; they solve business challenges across sectors. These experiences prepare graduates for opportunities in this career path.
Healthcare practitioners, researchers, and leaders are immersed in the work of improving lives. This deep focus can contribute to a slow drift away from the organization’s long-term strategy and goals. Consultants specializing in the health sector offer independent views of how their clients can get back on track.
A healthcare consultant starts by interviewing staff and managers about their work. Reviews of patient surveys, annual budgets, and staff evaluations add dimension to these interviews. Consultations typically produce reports on current operations and recommend changes for sustainable improvements.
The BLS estimates a 14% growth in management analyst roles by 2030, including consultants. Suffolk University designed its MBA Online to produce consultants who are immediately ready for business challenges. Program graduates draw on their experiences with the Boston business community when pursuing this MBA healthcare career path.
New ventures drive continuous improvement and innovation in the health sector. According to McKinsey & Company, the global digital health market alone was worth an estimated $350 billion in 2019... There are opportunities in this growing market for ventures focused on:
- Telehealth technology
- AI-enabled diagnostics and testing
- Virtual reality therapy
- Care payment systems
Healthcare entrepreneurs collaborate with designers and engineers to bring new solutions to life. Founders and investors can work on multiple ventures in response to new opportunities. This MBA healthcare career path blends the risk-reward balance of any business with the sense of fulfillment in helping people.
Suffolk University’s MBA Online embodies the spirit of innovation needed by healthcare entrepreneurs. The program was the first of its kind in the region and has evolved over more than 20 years. Graduates are ready to create new health ventures because they’ve learned from a trailblazing program.
Pharmaceutical Product Manager
New treatments and therapies move from conception to the market under the guidance of product managers. Pharmaceutical companies employ product managers to shape drug development based on market realities. This MBA healthcare management job involves tasks including:
- Research on competing products and healthcare trends;
- Development of multi-faceted marketing campaigns and branding;
- Collaboration with the sales team on outreach to providers and pharmacies.
Prospective product managers gain experience in these areas with Suffolk University’s MBA Online. Business leaders in Boston work with program faculty and students on innovative approaches to operational issues. This collaborative environment serves graduates well when they enter MBA healthcare jobs.
Quality Improvement Manager
Quality monitoring and improvement are vital in every industry within the health sector. The legal requirements and industry standards set for sector stakeholders are necessary for positive health outcomes. Quality improvement managers with business backgrounds use various tools to improve these outcomes:
- Reviews of clinical studies, industry trends, and regulatory changes;
- Audits of facilities, budgets, and office functions for alignment with policies;
- Staff training and feedback sessions based on performance metrics.
This MBA healthcare job requires strong communications, leadership, and analytical skills. MBA Online faculty at Suffolk University use their industry experiences to build student skills in these areas. The program’s two decades of online education have produced a global network of alumni who possess these skills.
Prepare for MBA Healthcare Management Jobs at Suffolk
The MBA Online program at Suffolk University prepares healthcare leaders for the challenges of today and tomorrow through hands-on learning. Students, faculty, and businesses in Boston solve practical challenges rather than hypotheticals. The Health Sector Management concentration focuses its immersive experiences on topics like:
- Health Systems I: Healthcare in the U.S.
- Big Data and Analytics for Health and Healthcare
- Evidence-Based Healthcare Management
Suffolk University graduates enter the job market with the advantage of degrees from a reputable school. U.S. News & World Report ranked the school No. 34 in the Regional Universities North category. Students also receive good returns on their investments based on Suffolk’s No. 38 ranking in Best Value Schools.
The MBA Online program has been refined over 20 years to train problem solvers in the business world. Experienced professors prepare students for immediate impacts in the healthcare sector with immersive experiences. Suffolk’s deep roots in the Boston business community provide valuable lessons carried into MBA healthcare jobs.
Speak to an advisor to learn more about how Suffolk’s MBA Online can lead to health sector management jobs.