MSc Healthcare Administration: Is It Worth It? Opportunities & ROI Breakdown

Key Takeaways

• Learn about what an MSc in Healthcare Administration entails.

• Find out about the top colleges that provide an MSc in Healthcare Administration.

• Know more about careers and job opportunities after graduation.

• Find out the salaries earned by healthcare administrators in various fields.

• Find out about the advantages of pursuing an MSc in Healthcare Administration.

Do you ever think of what goes on behind the curtains in a healthcare setting? We all know and respect the many medical professionals we come in contact with on a day-to-day basis. The doctors, nurses, and technicians are all familiar faces.

But a hospital or a clinic is much more than just healthcare providers. It is a network of people who manage the big and small decisions for a smoothly running healthcare system. This is where Healthcare Administration comes into play. 

One of the fastest-growing industries within the healthcare sector, healthcare administration is an essential part of this sector.  

This blog will take you through various programs that can get you into the HA industry. We will break down the cost of getting a Healthcare Administration degree and the ROI. 

Let’s understand what Healthcare Administration is all about.

Healthcare Administration

Healthcare administration can be defined as the management of the financial and business side of any healthcare setting. They oversee general operations and suggest changes to improve governance. 

Healthcare administration is a combination of patient care and business management. Healthcare administrators work to provide a reliable work system to the healthcare providers (doctors and nurses, etc.). They ensure the smooth operation of services to provide the best care to patients.

Related Read: Healthcare Administration: Roles, Skills and Career Pathways

What is MSc Healthcare Administration?

MSc in Healthcare Administration is a postgraduate degree course that is aimed at preparing candidates in the inner workings of the administration system of the healthcare industry. 

There are many options for the degree:

• Full-time

• Part-time

• Remote

• On-campus

• Hybrid

The curriculum of this degree is designed to cover all the main aspects of the working of the healthcare industry, from business and finance to data management and staff recruitment.

Let us look at some of the main subjects covered under this course.

Where can you study Healthcare Administration?

Many colleges across the globe offer an MSc degree in Healthcare Administration. We have shortlisted the top few colleges for you.

California State University, Long Beach

Degree: MSc in Healthcare Administration

Duration: Full-time | Part-time

Campus: Long Beach, California

Mode: Online | Offline

Fees: $24,750 | Rs 21,03,750

Monroe University, New York

Degree: MSc in Healthcare Administration

Duration: Full-time 

Campus: Bronx, New York

Mode: Online | Hybrid

Fees: $12,000 | Rs 10,20,000

University of Louisville, Kentucky

Degree: MSc in Healthcare Administration

Duration: Flexible (1-4 years)

Campus: Louisville, Kentucky

Mode: Online

Fees: $22,230 | Rs 18,89,630

California State University, San Bernardino

Degree: MSc in Health Services Administration

Duration: Full-time- 2 years

Campus: San Bernardino, California

Mode: On campus

Fees: $4,500/ semester | Rs 3,82,500/ semester

These are just some of the colleges. Explore all your options with Educafic, your friends for everything related to studying abroad.

Find out which college options across the world suit your requirements the best.

Explore Your Options

Opportunities after MSc in Healthcare Administration

The job opportunities after securing a master's degree in Healthcare Administration are endless. The job market in healthcare administration has grown by as much as 30%. This is much higher than other healthcare jobs.

Most graduates can secure a place in administrative positions. With experience, you can move up to department head and director positions. Let us look at some of the job roles and the salaries they command.

Healthcare Manager

• Responsible for running the department and managing staff. 

• Facilitate communication between healthcare providers and higher management.

Average Salary: $90,000 | 77.4 lakhs INR

Hospital Administrator

• Responsible for making policies and implementing changes.

• Ensures the seamless running of all the departments. 

• Managing budget plans, expenditure, staff payment, and more.

Average Salary: $110,000 | 94.6 lakhs INR

Clinical Director

• Responsible for running the clinical department of a hospital. 

• Involved in patient care decisions and management of the care unit.

Average Salary: $108,000 | 92.8 lakhs INR

Medical Records Manager

• Responsible for maintaining and updating the medical records of all the patients.

• Help in streamlining the information system.

• Ensuring a safe, secure, and legal framework for recordkeeping. 

Average Salary: $65,000 | 56 lakhs INR

Pharmaceutical Executive

• Responsible for the administration of pharmaceutical companies. 

• Implement regulations, update the policies as per legal requirements.

• Manage the production side of the business.

Average Salary: $140,000 | 1.2 Cr INR

Rehabilitation Facility Administrator

• Responsible for the smooth running of any rehabilitation facility. 

• Work with management and staff to manage budgeting, equipment, and personnel requirements. 

• Work towards improving the efficiency of care for patients.

Average Salary: $90,000 | 77.4 lakhs INR

Healthcare Consulting

• Advises hospitals, clinics, and pharmaceutical companies on improving work efficiency and profitability. 

• Use their experience to guide policy-makers with the best path to enhance the working of the system.

Average Salary: $150,000 | 1.3 Cr INR

Is MSc In Healthcare Administration Worth It? ROI Breakdown

Know More: Master of Public Health in Australia Fees

Now that you have seen the cost of getting a master’s degree in Healthcare Administration and the salaries, let’s discuss the ROI.

On average, getting a degree in HA will cost you around 20 to 30 lakh rupees. Add the cost of housing and living expenses, and the total cost can go up to 40 lakhs. But to cut this cost, there are multiple opportunities for scholarships and part-time jobs.

Coming to the salary after graduation, the average salary is much higher than the national average in most countries, at nearly 80 to 90 lakh rupees. Even as a beginner, the salary would more than compensate for the cost of the degree. 

Coming to lifestyle, countries like Australia, the UK, and New Zealand have an excellent work-life balance. Apart from this, countries like Australia have multiple visa pathways to make it easier for you to apply for PR.

The return on investment of getting a master’s degree in healthcare administration is excellent. Not only salary-wise, but also the multitude of career growth opportunities. 

With the growing field and job availability, it is the best time to invest in getting a masters in Healthcare Administration.

Educafic is the platform for you to get answers to all your queries and doubts. From career guidance to visa assistance, we will help you through every step of the way. 

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