Healthcare Management MBAs in Los Angeles
California’s healthcare systems are under a lot of stress. According to the Orange County Register, the state’s healthcare staffing shortages are projected to widen as the population grows and doctors retire.
According to a recent report by the Healthforce Center at the University of California-San Francisco, the state will lack about 4,700 primary care doctors by 2025, with the Central Valley, Central Coast and southern border areas being hit hardest. With a collection of renowned business schools in the area, students attending MBA programs in the Los Angeles Metro will be tasked with taking these challenges head on and finding the solutions that will ensure the livelihood of countless Californians. No pressure, right?
A Little More About Healthcare Management
According to the U.S. Bureau of Labor Statistics, healthcare executives and administrators plan, direct, and coordinate medical and health services. They may manage an entire facility, a specific clinical area or department, or a medical practice for a group of physicians. Medical and health services managers must adapt to changes in healthcare laws, regulations, and technology.
There is an expected growth of 20 percent between now and 2026, which is much faster than average. Prospective employees armed with an MBA should have no trouble finding a well-paying and fulfilling job out of business school. Those who earn a healthcare MBA can expect to earn between $40,000 and $110,000, depending on whether they manage a doctor’s office, hospital, home health agency, or nursing home.
As we mentioned earlier, the greatest need for healthcare workers is in California. So while the challenges will be numerous, the job outlook is very good. Let’s take a look at what Los Angeles business schools are offering in the area of healthcare management.
UCLA Anderson School of Management
Specializations in Healthcare, Social Impact, Executive Development, Technology Leadership
According to the Anderson School of Management, about 6.1 percent of 2017’s graduate class were hired in the healthcare industry in roles that included consulting, marketing management, finance, operations, business development, sales and rotational programs. They were hired by companies such as PWC, AMGEN, Kaiser Permanente, and Genentech, landing a median salary of $118,500, with 79 percent landing median signing bonuses of $30,000 and 53 percent receiving stock and equity options.
To help prepare students for these amazing career opportunities, the school offers various MBA specializations, such as healthcare, social impact, executive development, technology leadership.
Course are available that cover healthcare products (pharmaceutical, biotechnology, medical devices) and services (consulting, provider, payer). Faculty members teach both general management skills, as well as their own industry-specific knowledge of healthcare strategy and management.
Healthcare joint degree programs are also available in partnership with UCLA’s other graduate schools:
- David Geffen School of Medicine: MBA/M.D.
- School of Nursing: MBA/MSN
- Fielding School of Public Health: MBA/MPH
- School of Dentistry: MBA/DDS
UCI — Paul Merage School of Business
Healthcare Executive MBA
In March 2018, Merage School Dean Eric R. Spangenberg announced that the school was pausing admission to its Fall 2018 Healthcare Executive MBA (HCEMBA) program. Spangenberg’s statement read:
Over the last year, Merage School leadership has been in discussion with high-level executives and practitioners in the healthcare industry with operations in Southern California and beyond. They have shared that now, more than ever, the training of leaders in this continuously disrupted industry is critical. Therefore, in the coming months—consistent with the Merage School’s commitment to developing Leadership for a Digitally Driven World—we will be devoting time and resources to redesigning our healthcare offerings to address the contemporary needs of this industry.
While the HCEMBA program gets a fresh coat of paint, the Merage School continues to offer MBA specializations in healthcare for its part-time executive MBA and fully employed MBA programs. The school’s Center for Health Care Management & Policy will also continue to host its Healthcare Forecast Conference, as well as offer an impressive executive education lineup, featuring a Certificate in Leadership for Healthcare Transformation.
The Best of the Rest
While not true MBA programs, these masters’ and certificate programs are also options for those in the L.A. area who wish to break into the healthcare management industry.
Pepperdine Certificate in Healthcare Management and Leadership
While not an MBA program, Pepperdine’s Certificate in Healthcare Management and Leadership is designed to examine and discuss key trends and changes in the healthcare industry and the challenges posed to healthcare leaders. Built for healthcare executives looking for accelerated career development to bring immediate value back to their organization, the intensive two-day program is made up of three courses and a lecture and costs $2,499.
USC Executive Master of Health Administration
This degree program is suitable for mid-career professionals in clinical and management positions who want to become leaders in their field. This reputable program has been running since 1980 and is also available fully online. Tuition costs $1,602 per unit, and a 1,000-hour residency is also required.
USC is also home to the Marshall Healthcare Leadership Association (HLA)—an industry-specific club that focuses on all sectors of the healthcare industry, including payer, provider, digital health, and life sciences (pharmaceuticals, biotech, and medical devices). It also identifies MBA opportunities within the industry—marketing, finance, consulting, strategy, operations, and general management. Check the club out here.