Let MBA in healthcare add stars to your practice

Have you ever wondered that even after spending 6-9 years of academics, why do doctors and nurses opt for MBA courses? They are qualified to prescribe medicine, treat patients, do some really critical surgeries or even transplant organs from one body to another, then why study business additionally? So, let us find out today, the reason for this need of MBA. Why MBA in healthcare management is so important in today’s competitive market?

I agree to the fact that medicine and healthcare is a noble deed, but at the end of day even doctors have bills to pay and have a longing to make more money. You see, like any other businesses, even healthcare business needs knowledge, product information and hands on experience before it gets started. This is exactly what they learn in medical schools which is not enough to open their own private practice or run an organization. There are various other aspects which needs to be learnt and applied for a successful career in healthcare industry.

Let us take a closer look at few of those aspects here:

Learning fundamental business values:

An MBA in healthcare management could be a crucial step for doctors with an entrepreneurial spirit as they are ready to start their own company or product. The basic skills like accounting and finance, economics, marketing are the core values which they master. Taking into account the expenses and coming up with a plan to run the practice is important to keep the cashflow going.

Managing the resources right:

A lot of doctors end up struggling to hire people and retain them. It is important to understand how many people are required in a team, how to train them to make them more efficient at their specific roles and how to retain them to maintain the homeostasis of your business and then grow further. Sure, differences in opinion can lead to conflicts and arguments. Learning how to handle that is also required before starting a private practice. That is where Human resource management come into picture to teach this.

Keeping up with Technology:

With the advancement in technology, many organizations and hospitals today have their doctors and nurses update their work on some information technology systems. They are required to use the electronic health records and store the files on servers. This is also a skill which is taken care of in Hospital information system, one of the MBA modules.

Ethical values:

Ethics in Healthcare and management of healthcare services become an important topic when working in a big organization or Hospital. We are talking about combining the idea of morality and business in this area. When the number of people you work with increases, different verticals providing different services start getting added and it becomes important to learn how to manage that with peace.

Building a hospital:

Hospital Architecture, planning, design, and maintenance is another important module which focuses on interior of the hospital. This module is also supported and linked with another module called as Healthcare Laws, which focuses on the dos and don’ts to be followed while designing the interior, treating patients, and sticking with the rules.

MBA in Healthcare Management via Bradford International Alliance provides the exact set of knowledge which caters these requirements. Unlike other institutes, our faculties at BIA have designed the modules in such a way that it benefits the doctors in their day-to-day practice. They have made the course most suitable for the medical professional. Our affiliation is with Lincoln University which is listed among the top nine Malaysian universities according to the Times Higher Education (THE) University Impact Rankings 2019.

So, there is no question about the credibility of the degree. It has international recognition in most of the countries and the flexibility of learning best suits the working professionals. Still wondering why MBA in Healthcare is required? I would say yes, simply look at your colleagues and find out how many of them have done it already. Remember, the journey towards your MBA in healthcare management may have its challenges, but with the right mindset, determination, and passion, you can achieve great things and make a positive impact in the lives of those around you.

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