Online MBA In Healthcare Management

Healthcare is one of India’s largest sectors when it comes to revenue and employment. This industry has seen an unexpected boom in the past few years and is still continuing that pattern. According to IBEF, “Healthcare spending accounted for 3.3% of India’s GDP in 2022 and is expected to rise to 5% by 2030, reflecting the sector’s increasing role in the economy.” This data indicates that a range of new opportunities is going to be added in this sector in the upcoming years, but only well-trained professionals will be able to get their hands on them.

An online MBA in healthcare management is a way of making quality education in this industry sector accessible to millions of aspirants who cannot get it through traditional methods. Universities offering this course have made sure to add the core subject expertise in the curriculum, along with the management topics. This way, as a learner of this course, you not only understand the healthcare domain but would have the skills to manage it.

With the government’s aim to develop India as a global healthcare hub, the demand for Indian healthcare professionals is expected to double by 2030. This demand can only be fulfilled by making a large pool of well-trained healthcare professionals available in the country. And an online master’s degree in the same domain is one of the best ways to do that.

Coming to the features of this course, it is a flexible 100% online program, which allows you to study at any time from any location. Because of this flexibility, working professionals are more inclined towards this degree as it will enable them to complete their postgraduate studies without leaving their jobs. Moreover, the UGC-DEB approval of this online master’s course gives you the same recognition in the industry as that of regular MBA graduates.

What Is the Scope of Online MBA in Healthcare Management in the AI Age?

If you are among those who think, healthcare industry is going to stay untouched by the digital transformations of AI, you will be shocked by going through the facts of this section. To begin with, here are some of the projections from the India Brand Equity Foundation (IBEF): “ The Indian digital health market, valued at Rs. 75,658 crore (US$8.79 billion) in 2024, is projected to reach Rs. 4,11,275 crore (US$47.80 billion) by 2033 at a CAGR of 17.67%. The telemedicine market is expected to reach Rs. 47,130 crore (US$5.4 billion) by 2025, supported by demand for remote healthcare and advances in technology.”

The key drivers for this growth are the emergence of digital health and telemedicine. With the introduction of AI, not only has the way of working changed in the healthcare sector industry, but also the way you will be seen at your workplace has been largely impacted. If you know how to use digital tools and how to implement them to improve patient care, you will have a higher chance of getting placed at better positions in reputed organizations or hospitals.

With an online MBA in healthcare management, you will get to learn all the recent software, methodologies, and AI tools that are in high demand in the market. Thus, this online degree not only makes you understand the healthcare domain but also equips you with the latest advancements in the field.

• Work-Friendly Option for Professionals: An online MBA helps you juggle studies with your job, internships, or clinical work. You can learn when you have time without having to quit your job. It’s great for healthcare workers and new grads.
• Healthcare Jobs Are Booming: Healthcare is growing fast all over the world. An MBA in Healthcare Management gets you ready to be a leader in hospitals, drug companies, insurance, health tech, and public health groups.
• Saves Money and Time: Online MBAs usually cost less than going to a college full-time. Plus, you don't have to move or pay for housing or a hostel. You get the same management skills faster and cheaper.
• Skills for the Job Market &Worldly View: The program teaches you useful skills such as how hospitals run, healthcare money matters, quality control, data analysis, and health laws. Experts in the field often teach it using real-world examples.

Top Affordable Universities for Online MBA in Healthcare Management Courses

From the hospital, pharmaceuticals, and insurance, you will get an idea of almost all the related sectors from the curriculum of this online MBA course. Divided strategically in a semester-based format, this program equips you not only with the basics of the management field but also with the latest technicalities in the healthcare domain.

The semester-wise curriculum for this Online MBA degree is given below:

The fee is a variable parameter for any course. Just like other online MBA specializations, you can only get the exact fee amount for this program once you choose your university. However, to give you an idea of the approximate value, we can provide you with a range. At government universities, it ranges between INR 50,000 to INR 1 lakh, but at private universities, it starts at INR 1 - 2 lakhs. The difference in the fee structure of these two categories of universities is a reflection of the services offered by them.

Top Online MBA in Healthcare Management Colleges in India and Course Fees

Students can avail a collateral-free, No-cost EMI option to reduce the financial burden on the online MBA program fee. Most online universities collaborate with a banking partner that provides no-cost EMI and hassle-free loan disbursement. It includes minimal documentation, eligibility criteria, a 100% online process, and instant disbursement to make the career-aligned course accessible with ease.

The university has a simple online MBA admission process. While the admission may vary as per the university, here are some common step-by-step guides for MBA online admission:

Step 1- Registration:

• Visit the university’s official website and click on Register/ Apply Now.
• Fill in basic details, mobile number, email, and download the brochure for your preferred course.
• Pay Registration Fee

Step 2 - Application Form:

• Fill in your academic, personal, and work experience details.
• Make sure to verify your details before submitting.

Step 3 - Upload Documents:

Upload scanned copies of:

• Identity Proof: Aadhar, PAN, Visa/Passport (International Students)
• Academic certificate: X, XII, and a Bachelor’s degree.
• Scanned signature, photograph
• Experience or Offer Letter (Preferred by some online universities)

Step 4 - Pay Program Fee:

• Pay your online MBA full program/semester-wise/annual fee
• The university allows multiple payments and No-cost EMI.

Step 5 - Admission Confirmation

• After completing payment and the basic process, wait for admission confirmation.
• The student will get confirmation within 24 hours of submission via SMS and e-mail.

Step 6 - Get LMS Credentials:

Students will get their LMS login credentials and ID-cards via sms and email after admission confirmation.

Documents Required for Online MBA Admission

Given below is a list of some documents required for online MBA admission in India:

• Healthcare Management Jobs Are Booming: The job market for healthcare managers is expected to jump about 28–29% by 2033, which is way faster than average. That's a ton of new jobs each year. The U.S. Bureau of Labour Statistics figures around 61,400 new healthcare management positions open up yearly. This means there's a constant need for leaders.
• Basically, Healthcare is growing fast, especially the management side. An MBA in healthcare management sets you up in a field where you're wanted.
• Good Money to Be Made: Healthcare managers (often with MBAs) make good money, usually INR 30 - 35 a year in India, and it can go way up to more than that for senior positions. Even salary websites like payscale say healthcare administrators earn an average of INR 20 to 20 lakhs per year.
• Basically, compared to a lot of other fields, this one often pays better than average and has great long-term earning possibilities.
• Worth the Investment: Online Healthcare Management MBA programs show that you can get back about 196% or more of what you spent on tuition over your career. Some programs showed crazy high individual returns (thousands of percent!), but it really depends on the program and where you go with your career.
• Basically, for many, the money you get back is way more than what you put in — especially if you keep working while you study.
• Get Ahead and Earn More: Surveys and employers show that MBA grads can start out earning 20 – 40% more than those with just a bachelor's. Data also hints that people with master's degrees in healthcare management could make around 14 – 15% more than those with bachelor's degrees, and it gets better as time goes on.

Basically, the degree helps your career and how much you can earn, particularly as you climb into senior and executive positions.

The best part about doing this online master’s program is that it offers you the same career opportunities as a regular MBA program. There will be no difference in that just because you had your degree in the online format. However, you will feel the difference when your subject knowledge, skills, and management abilities are rewarded with high payrolls.

The table below contains the list of job profiles and the average salary package that are currently being offered in the job market to the MBA in Healthcare graduates.

Source: Ambition box

Not only hospitals, but also pharma and insurance companies actively hire healthcare management MBA online graduates. Their business skill and core field knowledge help these firms to achieve their business goals at a faster pace. The table below will give you a list of top recruiters that are actively hiring for the MBA in Healthcare graduates in the present times.

Source: Ambition box