With an onset of Covid-19 crisis, future professionals are sensing an opportunity in healthcare and hospital management courses. Most governments around the world are busy building more hospitals and healthcare facilities. It is expected that this will create a surge in demand for professionals trained to handle healthcare systems.
MBA in Hospital Management
MBA in Hospital Management is a business management course that is designed to help people manage the different systems in the healthcare industry. Different colleges have different structures for this course, however, like every other MBA degree; it is mostly for 2 years divided into 4 semesters. The course is structured in such a way that it helps the students to get a comprehensive understanding of the different dimensions of the industry and successfully work in different healthcare organizations. People who successfully complete the course can get an annual salary which ranges between INR 2,30,000 and 5,60,000.
The subjects that are taught in this course cover sections of Healthcare Management as well as Business Administration. The papers under MBA in Hospital Management are as follows:
- Principles of Management
- Human Resource Management
- Accounts for Managers
- Business Environment
- Operations Management
- Production Management
- Marketing Management
- Economics for Managers
- Strategic Management
- Managerial Quantitative Techniques
- Hospital Planning
- Business Communication
- Essentials of Hospital Management
- Hospital Inventory Management
- Business Laws
- Project Management
Many other subjects are taught under MBA in Hospital Management. Different institutions will have different curriculum set-up and subject choice. In terms of mode of instruction, there are distance as well as executive courses offered by some of the top institutes in the country.
Skills Required For MBA in Hospital Management
There are certain skills that a healthcare professional must possess if they are planning to get an MBA in hospital management and further serve in the healthcare industry. A person working in medical institutions needs to handle and understand the requirement of the patients, their families, the suppliers, the medical team and also the community.
The two most essential characteristics that the professional should have is compassion and sympathy. They need to have good knowledge of the different systems, patient care, people management, and insurance facilities.
Specializations within Hospital Management
The healthcare sector has changed drastically and people are finding more and more career opportunities here. For people who wish to get in-depth knowledge about this sector, a simple MBA in Hospital management might not suffice. There are different specialized courses like
- Healthcare Informatics
- Healthcare Financial Management
- Administration Careers
Hospital management is a sector with a huge number of career prospects. Depending on the interest of the student and their performance during the course, there are several opportunities that the student can apply for. The career opportunities in hospital management include healthcare finance managers, hospital administrators, blood bank administrators, medical director, HR recruiter, medical and health service management, etc.
A Medical Director is one who administers the timely treatment to the patients. Any issues related to the patient are handled by the medical director. The staff handling each of the patients in the hospital is also assigned by the medical director. The overall responsibility of the medical director is to maintain transparency within the organization. The average salary of a medical director is about 2 lakhs per annum.
The responsibilities of healthcare finance managers involve keeping a track of the finances of a healthcare organization. The budgeting, planning, analysis, and reporting of the different daily financial activities also fall under the purview of the finance manager. The manager designs and maintain financial systems in the healthcare facilities. The average salary of a healthcare finance manager is about 9.6 lakhs per annum.
An HR recruiter is responsible for managing the human resources of the organization. The human resources include the doctors, nurses, assistants of the clinics, hospitals, nursing homes, and blood banks. It is also necessary for the recruiter to ensure that the organization embodies a safe and calm environment where the staff and patients can work together. They have to maintain the ethical standards of the organization.
A blood bank administrator is responsible for overseeing the operations of a blood bank. This involves properly evaluating the inventory of the blood bank and coordinating with the staff to procure additional inventory based on demand. The three main functions viz., receipt of blood, the storage of blood and delivery of blood is under the purview of the blood bank administrator.
The role of a hospital administrator is to ensure that all the operations in the organization are running smoothly and the patients are being treated properly. The administrator is also in charge of recruiting the staff of the organization such as the doctors, nurses, assistants, interns, and others.
Recruiter in Hospital Management
India has more than 3 lakh healthcare organizations that are in dire need of professionals and skilled managers. The different domains that a healthcare professional can work in after completing their hospital management are as follows:
- Clinics, healthcare agencies, and laboratories
- Nursing homes
- Private as well as government hospitals both nationally and internationally
- Public health departments
- Rehabilitation centers
- Health insurance companies
- Mental health institutions
- Healthcare consulting firms
- Medical supply companies
Below is a list of some popular recruiter in healthcare domain:
- Apollo Hospitals
- Goa Institute of Management
- Fortis Healthcare Limited