What are the Benefits of Obtaining Master’s in Healthcare Administration?

Anyone who is considering advancing their degree needs to consider the benefits of Master’s in Healthcare Administration before making their final decision. While an undergraduate degree will open up opportunities for you in the healthcare sector, as the field grows and more individuals graduate for undergraduate programs, competition and demand also create somewhat of a Master’s degree requirement. If you want to compete in the ever-growing field of healthcare administration, and have interests in the healthcare, here are some of the benefits of attaining a Master’s degree that you should consider:

You Are Likely to Find Employment Quicker and Advance Quicker

The healthcare administration field is a large one with several different professionals who make up the structure. There are many different entry-level, mid level and management level team members who are needed to work behind the scenes in hospitals, medical facilities and physicians offices. While a Bachelor’s degree is the requirement to get hired in an entry-level role, if you want to compete for mid-level positions or you want to be seen as a stronger candidate in a market when the supply of graduates is high, having a Master’s degree will help. Preference is given to candidates with a Master’s over individuals who have a Bachelor’s, even if you have little to no experience. You will also enjoy fast advancement within the field of administration, and will be considered for a management or executive position over those who do not work for the organization and those with lower level degrees.

Learning New Advanced Skills in Healthcare

The field of healthcare is changing for a number of different reasons. For one, new healthcare reform laws have changed the way that claims are processed and filed. For two, this reform has created a greater demand for healthcare services which has sparked a greater demand for professionals who are experts in their craft. By enrolling in a Master’s degree program, you will attain new advanced skills that healthcare agencies and facilities are looking for. You can show that you are prepared to keep up with all of the changes in regulations, policies and demand, because you have taking upper level coursework that teaches you to do this. You can also show that you are motivated and committed to the field of healthcare administration.

Increase Your Lifetime Earning Potential

The health field pays well, but you must advance to higher level positions to earn a livable salary. If your primary motivation is to earn a high salary, like many people, then you will need a Master’s degree. Executives in healthcare administration earn much higher salaries than the average worker. In fact, the average executive salary reported in the nation is $129,432 for accountants alone. This does not take into account the salaries for other high ranking officials and managers.

A Master’s degree in Health Administration will take you about 24 months to complete if you are enrolled in class full-time. Make sure that you choose a respected program that will keep you engaged before you enroll. Now that you know the many benefits of Master’s in Healthcare Administration, you can make an educated decision and start comparing accredited programs.

Related Resource: Best Schools to Obtain a MHA