Anaya Essay (1).docx

Master of Business Administration benefits a variety of different industries and sectors like business marketing, finance, management and administration in a health care or pharmaceutical setting. MBA has a more of business focus. With the unprecedented growth of the healthcare industry there has been an incredible change in the requirements of medical institutions like marketing , human resources, customer satisfaction , housekeeping etc. MBA in health care allows you more latitude across industries, including related health care companies, like medical devices. Now with more and more organizations trying to manage costs and keep up the legislation changes, the demand for health care management professionals is on the raise. Management in health sector is unique. There is stability and potential with gained experience. The importance of management skills in healthcare cannot be underestimated as hospitals and its staff needs to be professionally maintained with proper specialised training . There are several roles of health care managers that include staffing, planning marketing, accounting public relations, human resource management, etc. The primary aim of healthcare management is to ensure healthcare services in the most cost effective manner. The modern health care industry needs skilled and effective business leaders with creative problem solving and leadership skills. Like leaders who will have skills and knowledge to pursue opportunities across every aspect of health care ,including nursing administration, business development, laboratory management, EMS services management, security, data and records, administration, research, education, marketing, recruitment, human services and more. MBA in health care educates health care leaders about economic political and financial environment in which health care is delivered and to better understand how to manage and lead organizations across health care in the future. MBA in health care in addition also hold positions in pharmaceutical industry, health insurance, management consulting, financial institutions, state and federal policy agencies and several other fields. MBA helps us learn to reduce health care costs, expand patient access to health care and enhance the quality of services by securing the protected delivery of health information. For example if we take the nursing administration , in this nurses are trained for service as executive leaders in hospitals and academic institutions. Nurses in this track have the chance to serve with current leaders of healthcare or academic institutions to gain the knowledge , skills and wisdom needed to lead healthcare institutions in the future. Health care management includes almost all domains that form parts of the health care system and one of the important role is that of a finance manager . The finance manager looks after everyday financial activities of hospital. They

are responsible for budgeting , financial analysis, financial planning and reporting of the same. The financial officer often involves meeting some of the targets set by the institute and also requires alacrity and complete knowledge about the insurance and health care financing regulations .They are responsible for efficient payment handling in the health care system. Similarly the medical and health service managers are responsible for planning ,directing and coordinating of all healthcare services provided by the company or the hospital where they are employed. They have to ensure efficient and timely of all the services provided by the hospital. Challenges of healthcare management: a. Intense work pressure b. Changing work shifts c. Work in a emotionally charged atmosphere d. Very less cope for mistakes Rewards in healthcare management: a. One gets to meet several people from all sectoe of the society b. High work satisfaction c. Direct decision making powers and directly contributing towards the growth of the institution d. Work in a noble industry e. Huge remuneration The MBA in healthcare management has more of an overall business focus , with less time spent on policy and more time spent on operations and business. “ It means for potential leaders on the business side of health care ,such as executive levels”. They need to know business functions like accounting , finance etc. There is more leeway with MBA to move across industries to organizations like insurance companies, medical device companies or other medical related businesses or even into teaching.