By Dr. Salvatore Barbera
Still struggling to get back to pre-pandemic conditions, our healthcare system now also faces significant challenges with staff shortages, supply-chain interruptions, reimbursement pressure, and unrelenting merger and acquisition (M&A) activity, to name a few. Though M&A activity could offer different and unique opportunities, and is a path worth considering, it is fraught with increased challenges from the Federal Trade Commission (FTC) over concerns about monopolistic behavior.
This instability in the healthcare environment is leading executives to accept early retirement options at a record pace and accelerating the need for future healthcare leaders. Though the current environment in healthcare is ominous and unsettling and in need of direction, the future also offers unprecedented opportunities for healthcare leaders and executives. The U.S. Bureau of Labor Statistics (BLS) projects a greater increase in healthcare jobs than any other industry from 2020 to 2030, predicting close to 3 million new job openings around the country at an overall 8% average growth rate for all occupations. According to BLS, healthcare managers will enjoy more than 30% rate of growth through 2030. This projected rate of job growth bodes well for all seeking to pursue a career in healthcare management.*
Now that we know the projections on the overall need for healthcare leaders and executives, what academic paths are recommended to equip these much needed leaders? Even though we will continue to find healthcare managers possessing an undergraduate degree, it is safe to say a graduate degree should be the ultimate academic credential. A graduate degree will allow you to compete for job opportunities in a highly competitive industry and will give you an advantage to pursue your position of interest. Simply stated, a graduate degree will qualify you for any administrative or management job in healthcare. Certainly, experience and type of degree will become a factor when entering the job market and ultimately determine your job-hunting success.
Current students considering a career path in general healthcare administration have several graduate degree options. A general Master of Business Administration (MBA) is one academic path, especially for students who have healthcare experience or an undergraduate degree in healthcare services administration. The MBA also offers some degree of flexibility by allowing students to pivot to other industries besides healthcare. An MBA with healthcare concentration is suitable for students with limited healthcare experience. This MBA includes designated healthcare courses where students engage in healthcare subject matter discussions and activities. The final degree to consider is the Master of Health Services Administration (MHA). This specialized degree primarily benefits those in the healthcare industry and may be of less value to professionals outside the healthcare industry.
Based on my experience in healthcare, including serving as the CEO for several hospitals and hiring a countless number of healthcare managers and directors, the MHA is the degree of choice in healthcare administration. Students seeking an MHA are demonstrating a strong interest in a healthcare career. When sharing insights with students about job opportunities and degree benefits, I tell them if I am interviewing to fill an administrative position and have two equally qualified final candidates with one having an MBA and the other an MHA, I will hire the MHA. A student who dedicates time and resources to pursue an MHA degree is committing to a career as a healthcare professional and is less likely to switch to other industries.
Florida Atlantic University (FAU) offers several academic options for students considering careers in health services administration. These options accommodate students who are working fulltime, students wishing to complete their degree at their convenience online, and those traditional students who seek a classroom setting during the work week. The Executive MHA program is offered in two formats: on-campus during every third weekend and fully online. Traditional students have the face-to-face option and online option in completing their degree. In addition, in the fall 2022 semester, FAU launched an accelerated program that will allow students to enroll in and earn both an undergraduate and graduate degree in just 5 years instead of the traditional 6+ years. All healthcare administration programs are fully accredited by the Association to Advance Collegiate Schools of Business (AACSB), and the Association of Colleges and Schools (SACS).
Please feel free to contact me if you would like to discuss a career in healthcare administration. I am available to share my 35 years of healthcare executive experience to help guide students on an academic course that best suits your needs and maximizes your educational and professional experience.
Dr. Salvatore Barbera, Associate Program Director, Health Administration Programs, College of Business, Florida Atlantic University, can be reached at (561) 297-4444 or Sbarber2@fau.edu.
*U.S. Bureau of Labor Statistics
