Anaya Essay.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. 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 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 oppurtunities 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. I’d like to share how friends of mine used an MBA to transition into health care career. One of my friend whose a MBA graduate and the first MBA to serve as an administrative fellow at a cancer institute, didn’t work in health care prior to getting her MBA. She now works with senior level management on a variety of projects at one of the best cancer hospitals in United States, but her list of previous employers included : an investment management firm, the operations department of a management consulting firm and a start up. When her aunt died of cancer ,she decided to honour her by running the Marathon. Not only did she raise nearly $20,000 , she also made the life changing decision to switch into non profit management so she could work for a cancer related organization. She didn’t have the education she needed in order to make transition ,she decided to get her MBA. Similarly another friend of mine ,prior to getting his MBA worked in hospitality industry for nine years and managed a restaurant. His father used to run an infant cardiovascular clinic, he got into health care because he was inspired by the similarities between hospitality and hospital care. He viewed the challenges that the healthcare is facing as an opportunity to get involved and make a difference. During my friends MBA program he has attended health care recruitment events, and interned, where he worked with uninsured members. He feels that his MBA education helped him see the big picture of health care ,which he pairs with the people skills he gained while working in the hospitality industry. He now works as a pricing analyst. While he does front store pricing on consumables such as candy, groceries and snacks, the profit from these retail items helps subsidize the healthcare part, including the minute clinic, social outreach to communities and donations. He feels the minute clinic ,the largest provider of retail medical clinics, provides people with access to health care at a much lower cost. In addition, analysing consumer habits and behaviours allow to make better decisions about healthcare costs and how to create incentives which promote healthier behaviour. 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. If one is interested more in operations and business he/she can look at

being a hospital administrator, a clinic or department director. 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.