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What is Healthcare Management?
Healthcare Management includes managerial roles that direct organisational policies and procedures and improve treatment options. Although they are not directly involved in patient care, Healthcare Management Specialists consider the wider picture to ensure that services benefit patients and give staff more authority.
Healthcare Managers are responsible for maintaining the proper operation and community service of healthcare institutions, including hospitals, clinics, and physician offices. They guarantee that patients receive the finest care possible and that the institution runs efficiently.
The earning potential is very high for careers in Healthcare Management. Healthcare Management offers the chance to positively impact people’s lives if you are interested in the medical industry but prefer to avoid clinical work.
Scope of MBA in Healthcare Management
Opportunities for employment in the Healthcare Insurance, Healthcare IT, and Hospital Administration sectors are abundant for people with an MBA in Healthcare Management.
Over the past ten years, the Healthcare industry has expanded significantly, increasing demand among the country’s youth.
According to a report byIIHMR, when it comes to size, the Indian Healthcare Market ranked sixth in the world in 2014. As per the India Brand Equity Foundation (IBEF), the Healthcare sector in India has a market value of approximately $110 billion as of 2016.
The industry’s incremental growth is anticipated to accelerate at a rate of 22.87% during the next several years. Thanks to the nation’s highly skilled medical workforce, affordable healthcare, and advanced diagnostic services, India’s rapid expansion is expected to augment the range of healthcare services offered there and create favourable prospects for growth in the years to come.
Skills Required for Healthcare Management Job Roles
Technical Skills:
| Budgeting | Quality Assurance and Control |
| Staff Management | Project Management |
| Financial Analysis | Strategic Planning |
| Data Analysis and Interpretation | Decision Making |
Soft Skills:
| Communication | Teamwork and Collaboration |
| Problem-Solving and Critical Thinking | Self-Awareness |
| Resilience and Stress Management | Leadership |
| Adaptability | Social Awareness |
List of Top Jobs after Healthcare Management Degree with Salaries
| Sl# | Professional Scope | Average Salary | Highest Salary |
| 1 | Hospital Administrator | ₹6,00,000 – ₹12,00,000 | Up to ₹24,00,000 |
| 2 | Hospital Financial Manager | ₹13,60,000 – ₹20,40,000 | Up to ₹36,00,000 |
| 3 | Healthcare Consultant | ₹4,80,000 – ₹9,60,000 | Up to ₹18,00,000 |
| 4 | Healthcare Marketing Manager | ₹4,20,000 – ₹9,00,000 | Up to ₹21,00,000 |
| 5 | Public Health Administrator | ₹4,80,000 – ₹9,60,000 | Up to ₹18,00,000 |
| 6 | Healthcare IT Manager | ₹4,50,000 – ₹9,00,000 | Up to ₹15,00,000 |
Source:Health Management Job Salaries
1. Hospital Administrator
Organising and supervising the medical services and day-to-day operations of a hospital or healthcare facility will be your responsibility as a Hospital Administrator. Among other things, you will oversee proper patient care, manage personnel and finances, and liaise with other departments.
- Average Salary- ₹6,40,000 Per Year
- Highest Salary- ₹24,00,000 Per Year
2. Healthcare Financial Manager
The main duties of a Healthcare Financial Manager are to prepare, examine, and present financial statements for either the entire company or just a certain department. They analyse data to provide senior management at the site with recommendations on how to increase income. They supervise the financial aspects of clinical procedures, including insurance payment, and guarantee adherence to legal reporting requirements.
- Average Salary- ₹20,00,000 Per Year
- Highest Salary- ₹36,00,000 Per Year
3. Healthcare Consultant
As a Healthcare Consultant, your role would be to assess current procedures, provide expert counsel, and offer direction on how to enhance them while cutting expenses and raising patient standards. A Healthcare Consultant can provide invaluable knowledge and training to address organisational obstacles and enhance service delivery because of their background in the medical field.
- Average Salary- ₹5,70,000 Per Year
- Highest Salary- ₹18,00,000 Per Year
4. Healthcare Marketing Manager
Your major responsibilities as a Healthcare Marketer in a medical practice are to draw in new patients and keep existing ones loyal. Public education on modern medicine is one of your duties as an employee of a government agency.
- Average Salary- ₹4,20,000 Per Year
- Highest Salary- ₹21,00,000 Per Year
5. Public Health Administrator
As a Public Health Administrator, your responsibilities include supervising other leadership departments within the organisation, managing the organisation’s budget, helping to design and run treatment programmes, and maintaining a high degree of quality health standards.
- Average Salary- ₹4,20,477 Per Year
- Highest Salary- ₹20,00,000 Per Year
6. Healthcare IT Manager
Your responsibility as a Healthcare IT Manager is to oversee all day-to-day activities of the information services and technology department, such as the help desk, data centre operations, network and telecommunications operations, daily coordination with application and technology vendors, and end-user computers and devices.
- Average Salary- ₹6,00,000 Per Year
- Average Salary- ₹15,00,000 Per Year
Best Institutes for Online MBA in Health Management & Related Programmes
| Universities Offering MBA in Healthcare Management | Programme Fee |
| Jain University | INR 1,70,000 |
| Centre for Online Learning, D.Y. Patil Deemed To Be University | INR 1,70,000 |
| Directorate of Distance Education, Suresh Gyan Vihar University | INR 80,000 |
Conclusion
As you embark on your Healthcare Management journey, remember that you are not just navigating numbers and regulations. You are building a bridge between patients and the finest care, between skilled professionals and efficient operations. The future of healthcare rests in the hands of passionate, decisive, and empathetic leaders like you. So, step into the role of Hospital Administrator, orchestrate the symphony of healthcare, and leave your mark on the world, one life healed at a time.
