Financial professionals play a vital role in the healthcare industry. From actuaries to accountants to chief financial officers, all help their organizations stay fiscally fit. With a Master of Business Administration in healthcare finance, you could become a valuable part of your employer’s team.
Healthcare Spending in the U.S.
Healthcare spending always seems to be a hot-button issue in U.S. politics. Total healthcare spending in the nation is a combination of use (how many medical tests and treatments we use) and price (how much each medical service costs), according to Bloomberg Business. An online MBA in healthcare finance can help you understand the nuances of U.S. healthcare spending, such as how American consumers pay for hospital care, physician services, long-term care, prescription drugs, and other medical services and products.
In an online MBA program with healthcare finance concentration, you can also examine how other countries spend money on healthcare while developing your expertise in financial analysis, decision-making, healthcare payment methods, budgeting, economics, healthcare policy and regulation.
Career Options With an MBA in Healthcare Finance
What can you do with an online MBA in healthcare finance? Plenty. Graduates of the online MBA program can lead and manage financial operations at medical clinics, hospitals, healthcare networks or other facilities. Here are a few positions you might qualify for after obtaining an MBA in healthcare finance:
- Actuary — Actuaries predict increases in healthcare costs, from hospital stays to prescription medicines.
- Controller — Controllers manage the accounting, audit and budget departments of a healthcare organization.
- Chief financial officer — CFOs oversee all financial activities of a healthcare organization.
- Financial manager — In this position, you might help your organization prepare financial reports, make investment decisions and develop short- and long-term financial strategies. You also might be responsible for ensuring your healthcare organization complies with tax and legal regulations.
With flexible start times and 24-hour access to coursework and discussions, you can earn your online MBA in between work, family and other obligations. Apply your healthcare finance expertise in an existing or future career by enrolling in an online MBA program today.
Learn more about the University of Cincinnati’s MBA in Healthcare Finance online program.
Have a question or concern about this article? Please contact us.