Monday, March 26, 2007

MBA in Healthcare, What to Do With It

I am a graduate from economics and did my post graduation in MBA Hospital and health systems management (India) which I completed in 2006 June. For the last 9 months I have been working in a multi-speciality hospital and have been looking for a change in jobs. I wanted to study something further in a related field in the USA but could not decide on the course that I should take up. Please advise on that.
Thank you,

by Richard Yadon, CPC, President/CEO, HealthCareerProfessionals

Shashwat, there are two major drivers in the US health care industry – clinical technology and financial efficiency. Clinical technology has made the US health care system the most admired in the world. However, it has created an escalating financial burden upon hospital systems, insurance companies, and the economy in general. Businesses and people who can offer solutions to this problem are in high demand.

I'm sure your MBA studies included a strong dose of financial knowledge. Healthcare is no different from other businesses in that you have to increase revenue, control expenses, and improve the bottom line. What is unique in the US health care industry is how this is actually accomplished.

My advice for you is to gain experience rather than more studies. Many of my clients are hospitals and health insurance plans. They always want people with relevant experience within their respective business environments. An operations executive's responsibility at a hospital is very different from a peer at a health plan. See if you can find a role in claims, reimbursements, operations, or finance within a health insurance plan. Many of these functions are being outsourced to India. Your marketability will be much stronger with practical experience rather than more book work. You might also visit the American College of Healthcare Executives website for additional information.

Richard Yadon is President/CEO of Health Career Professionals, an executive search and employee development company focused in the healthcare industry.

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